Insurance and Technology recently published an article by Rod Brooks, VP and CMO of PEMCO, titled ‘With Customers in Control, CIOs and CMOs Must Team Up.’ In it, he highlights the growing need for marketing and IT departments to work closely together towards the goal of knowing their customers and engaging with them in relevant and timely ways.
The empowered customer is reaching for the real-time information they need whenever they shop – to compare quotes, research product features, and find out about other buyers’ experiences. Technology is empowering customers to access and share the communications that inform and influence their insurance purchase decisions – a function that was traditionally the marketing department’s responsibility.
Rod posed that marketing is essentially about communication, and in a hyper-connected world, communication is about technology. Isn’t it logical that the CMO and CIO take joint responsibility to ensure that there’s a clear line of communication and connection with the customer?
We entirely agree that insurers who want to make the customer experience their central focus need to consider creating more crossover and collaboration between their IT and Marketing departments – it creates unimaginable opportunities. Imagine the marketing insight insurers could collect if they could combine real-time transactional data with public and additional third party information?
We’d add that, from our experience, these two departments have much expertise to share with one another on how to optimize the processes involved in selling direct. What does the marketing department know about consumer behavior that could help the IT department design a better questionnaire for insurance customers’ seeking quotes? How can the IT department help the marketing department identify opportunities for new products or market existing products to specific customer segments /niches?
Are your marketing and IT departments working closely together? And if so, how has this resulted in a more satisfying shopping experience for your customers?