Social Media, Social Good & Good Business Can they fit together?
-
Upload
philippe-danielski -
Category
Business
-
view
25 -
download
4
Transcript of Social Media, Social Good & Good Business Can they fit together?
Social Media, Social Good & Good Business Can they fit together?
Philippe Danielski
24th January 2016
Why Are We Here?
2
To be the most professional financial services organization in the world,
providing strong, reliable, trustworthy and forward-thinking solutions for our clients’
most significant financial decisions To bring peace of mind and build prosperity to millions of Indonesians
To be the preeminent specialty global property and casualty
insurer by providing coverage and service that exceed our
customers’ expectations
Help Customers Understand and Protect Themselves From Risk
To help customers live their lives with more peace of mind by protecting them, their relatives and their
property against risks, and by managing their savings
and assets
3
Indonesia
DemographicDividend
Wealth Creation
PopulationExplosion
Infrastructure Spend
Why Are We Here?
© Z
uric
h In
sura
nce
Com
pany
Ltd
Source: Lloyd’s Global Underinsurance Report, 2012
Huge Insurance Gap & Opportunity
High Protection Needs
Low Insurance Understanding
Why Are We Here?
GI Underinsurance as a % of GDP and in US$ billions
5
Banda Aceh, Dec 2004
Why Are We Here?
<$0.5B of $4.4B reported damages insured
167,540 Indonesian dead or missing. 99% had no life insurance
Source: RMS Special Report, 2005 & NOAA publication, 2004
After Tsunami
Why Are We Here?
"Innovation in ASEAN Insurance - Exploring practical strategies to ensure
success in a changing technological landscape"
Image source: http://www.marriott.com/hotels/travel/jktjw-jw-marriott-hotel-jakarta/
Why Explore Innovation?
7
Without innovation margins fall, commoditization occurs, efficiency gains stop,
Entropy is reached.
Innovation moves the curves up and right
New demand, Increased margins,
New markets and segments.
supply
demand
price
quantity
new demand
Innovation and the Customer Journey
Digital Innovation & TransformationDigital
Insurance
Technological Advances
Online Claims
Data Analytics Mobile Technology Advocacy
Loyalty
Satisfaction
Selection
Consideration
Awareness
Knowledge
* Source: Financial Literacy Survey by OJK in 2013
OJK says* only 18% know what insurance is.
A private survey of upper middle class to mass affluent shows <1/2 the market knows what General Insurance is and >1/2 of them
are WRONG
To fill the enormous gap in insurance we need first to
build awareness of risk and knowledge of insurance.
Over 100 Million Internet Users
Indonesia: Social Media Mania
82 Million Users
Source: APJII, 2016, TechinAsia, 2015, www.consumerbarometer.com
308 Million Mobile Connections
People spend 27 hours/week on their smartphones
50 MillionUsers
Indonesia: Social Media Mania
Until it rains.. From Social Media to Social Good
12
People get much more concerned about risk.
The feeds change.
On the last two truly big flood days in Jakarta (9-10 Feb ‘15) there were
872,905 tweets mentioning flood events reported by @petajkt
© Z
urich
Insu
ranc
e Co
mpa
ny L
td
From Uninsured to Insurable
Zurich decided to harness this Zurich Insurance Group was already committed
>USD 5 million 5 year (2014 – 2019)
Flood Resilience Program
13
• Increasing community flood resilience
• Enhancing effectiveness of disaster risk reduction solutions
• Informing policy makers and donors on disaster risk reduction
• Flood Resilience Measurement Tool
A Mobile application free to all 10+ million residents of Greater Jakarta
An early warning system to increase risk awareness,
inform and mitigate the effect of disasters/incidents.
Z-Alert: Social Media for Social Good
© Z
uric
h In
sura
nce
Com
pany
Ltd
Z-Alert: Building Awareness & Knowledge
15
Jakarta per annum averages: >6k serious traffic accidents>1,300 reported fires>1,000 floods
Lloyds City Risk Index ranks Jakarta #20
16
1. Customer: Incident alerts increasing protection Proactive service in claims
2. Partner & Distributor: Innovation and differentiation
3. General Public: Increase risk awarenessBuild understanding of insurance need
4. Government Agencies & NGO’sTool to help manage and communicate
5. Insurer: Big dataReduced lossesIncrease brand awareness
One application: many beneficiaries
Awareness – recognize risk and need to face it
Knowledge – what is insurance and why is it important
Technology
New Devices
Innovation
New Invention
Social Media
Digital
Mobile
18
Let's innovate to raise awareness and knowledge of insurance
Earthquake, Aceh 2016
Social Media, Social Good & Good Business Can fit together!
>11,668 buildings & houses damaged and destroyedOnly 1,324 insured
Thank you