CX & Cyber: How They Improve & Impact Your Agency

1. CX & Cyber: How They Improve & Impact Your Agency March 6, 2019

2. Discussion Topics • ACT – Quick Overview • CX – It’s everywhereeverything • Cyber and our IA World

3. ACT – Quick Background It’s not about this guy Ron Berg – Executive Director

4. WHAT are we? • Big “I” Program that has brought IA stakeholders together since 1999 • Advancing effective: • Technology workflows, business processes • Our Goal: Consensus on best workflows, advocacy using Work Groups FREEfor Big ‘I’ agents & brokers!

5. WHO are we? • Volunteer-driven program • Guided by: • Carriers, • Vendors, • Agents & Brokers • User Groups & Associations • Over 60 financially supporting ACT Members

6. Current ACT Work Groups • Strategic Future Issues • Changing Nature of Risk • Customer Experience • Security Issues • eSignature • Small Commercial Rating • Communications

7. You don’t have be a ‘techie’ to join ACT!

8. Are You Subscribed? Visit www.independentagent.com/actand subscribe to our monthly eNewsletter.

9. Big “I” Agent Development Programs

10. The ‘CX’Journey

11. The Customer Experience Journey Customer Expectations are CHANGING Forces at Work: • New Behaviors • New Technologies • Competitive Pressure • New Buying Journey

12. Customer Experience as the Driver • Fundamentally everything we do is related to our desire to deliver an exceptional experience to our customers • Customer experience must drive how we apply the technology and processes vs. be a result of how we apply them

13. First; MOBILE • 86%of insurance shopping now starts on mobile * • 66%depart if not optimized * • Google now ranks “mobile-usability” higher • 87% of smartphone time is spent with apps. * Source: comScore 2017 Online Insurance Shopping Report

14. X

15. Mobile FIRST (Everywhere) • 71% Sleep with phones nearby • 35% reach for phones before coffee or other morning “functions” • 44% can’t go 24 hours without their device • 52% check their device every 5-10 minutes FASTEST-GROWING AGE GROUP: 55-64

16. Lemonade https://www.youtube.com/watch?v=flSLI2JmWVE

17. The Customer Experience Customer Expectations are CHANGING Forces at Work: • New Behaviors • New Technologies • Competitive Pressure • New Buying Journey

18. What are agents doing now? Source: 2018 Insurance Digital Revolution Survey – 1,970 respondents

19. What are agents doing now? Source: 2018 Insurance Digital Revolution Survey – 1,970 respondents

20. What are agents doing now? Source: 2018 Insurance Digital Revolution Survey – 1,970 respondents

21. The Customer Experience Lifecycle Six phases, critical touchpoints

22. CX Journey - Phases

23. CX Journey - Phases 1) Discover – Create awareness Examples: Mobile-adaptable websites, SEO, Find-an-Agent 2) Evaluate - Generate favorable consideration Examples: Solid website, compare rates, use testimonials 3) Purchase – Make it easy, show the experience agency will deliver Examples: Online chat, eSignature, EFT or CC pay

24. CX Journey - Phases 4) Experience – Establish a bond, deliver noticeable value Examples: Mobile acct mgmt, website education, proactive 5) Renew or Leave – Reinforce affiliation via proactive engagement Examples: Online rate check, positive claims experience 6) Refer – Leverage the fan base you’ve established Examples: Website review, video testimonial, blog

25. The Customer Experience Resources: • ACT CX Journey Recommendations document • New: Free interactive online CX planning tool https://www.independentagent.com/ACTCX

26. The Customer Experience Review online tool: https://www.independentagent.com/ACTCX

27. The Customer Experience Coming next: Adding Agency CX assessment/ Project Planning tool https://www.independentagent.com/ACTCX

28. Cyber & the IA

29. Cyber & the IA • Cyber trends • Financial Services • The IA distribution • Emerging Cyber Regs • Resources for YOU

30. Cyber & the IA Poll: How do YOU feel about your Cyber security status? Recipient: 22333 Message: ACT4Agents_A, etc.

36. Breaches – By Business Type Source: http://breachlevelindex.com/

37. Breaches – By Business Type Source: http://breachlevelindex.com/

39. Independent Agents 5,893,117records exposed Source: Risk-Based Security • On track for >8,400,000

40. WHAT WE NEED TO DO: • Understand details NY DFS, Gramm-Leach-Bliley, NAIC Laws • Clear action needed on each Regulation • Understand resources to comply • IIABSC – SC Data Security Act • ACT ‘Cyber Guide 2.0’ ADDED: Vendor Matrix Includes ACT ‘Agency Cybersecurity Policy’ Template https://www.independentagent.com/ACTCyberGuide2 http://www.independentagent.com/ACTCyberPolicy

42. WHAT WE NEED TO DO: • Understand details NY DFS, Gramm-Leach-Bliley, NAIC Laws • Clear action needed on each Regulation • Understand resources to comply • ADDED: Vendor Matrix • ACT ‘Cyber Guide 2.0’ Includes ACT ‘Agency Cybersecurity Policy’ Template https://www.independentagent.com/ACTCyberGuide2 http://www.independentagent.com/ACTCyberPolicy

43. Next: ‘Security Issues’ work group • Multi-Factor Authentication (MFA) • Third-Party security regulations (NY DFS/NAIC), • GDPR – What should ACT & the Big ‘I’ put together? • ADA Website Compliance – What does it mean for agents & our distribution? https://www.independentagent.com/ACTSecurityAndPrivacy

44. IIABSC https://www.iiabsc.com/Resources/Pages/CyberS/

45. Wrap-up – Resources for YOU

46. ACT – Free Big ‘I’ Resources • CX Online Planning Tool • Agency Cyber Guide 2.0 • Agency Website Privacy Policy • Risk Advisories • Texting & eDelivery agreements • Disaster Planning • Agency/Carrier Agreements …and much more

47. QUESTIONS? • Ron.Berg@iiaba.net • http:/www.iiaba.com/ACT Thank you! Contact: