Mobile technology has changed the landcape of modern business. Consumers now look online for everything from mortgages to mattresses. At the 2014 Life Insurance Conference in Chicago, James Quade spoke to just that.
Quade, assistant vice president and managing director of strategic partnerships at Liberty Mutual, talked of how mobile technology continues to change the way consumers shop for insurance and what some companies are doing to reshape their distribution systems.
“The newest generations are ‘digital natives,’” Quade said. “My youngest nephew bought a mattress on Amazon by looking at reviews. If you don’t think life insurance can be sold over the Internet, you may want to reconsider.”
Quade then reminded the audience that almost 80 percent of all adults use the Internet every day and there are more than 4 billion users of mobile devices worldwide today.
Are you as avaialbe as potential consumers of your product want you to be? Are your online ads geared toward those who should see them?
“I use [mobile application] MapMyRun and went home and downloaded my run to my computer and was pushed an ad for running shoes. Why not for life insurance?,” Quade appropriately asks.