Social Business Sandy

BIZTECHBUZZ in the world of social, cognitive, IoT and startups

Category: insurance

Talking Social Business with Airlines in Prague with a new Social Study for Airlines

 The GLOBAL AIrline Summit. 

On September 9, I’ll be talking with senior airline executives from around the world at the IBM Airline Summit in Prague, Czech Republic. The theme of the summit is “Smarter travelers expect smarter airlines: Delivering an exceptional customer experience while optimizing operations.”

Today’s travelers really do expect more from airlines than ever before. Yes, we expect smooth operations, a pleasant flight and good value.

But more and more we expect personalized customer service while we are shopping for a trip and during each step of the journey, delivered consistently through all the devices we use.

The NEW Socially Connected Airlines. 

Today, meeting those expectations depends on using the latest social business tools to help the airline workforce keep the planes on schedule and to create exceptional customer experiences.

I recently read a related article in Business Travel News that might interest you by Paul Campion, an IBM colleague in the UK.

The SUMMIT.  A Breakthrough Event!

 At the summit, airline executives will share their own experiences and hear speakers from other airlines, industry analysts, a leading international airport, Coca-Cola marketing, Netflix, and from IBM. 

We’ll be launching some exciting new social business research sponsored by IBM with PhoCusWright – “Social media in travel: mayhem, myths, mobile and money.” The study will provide clear quantitative insights around what travel companies need to manage, mobilize, and monetize their social strategy.

Of course, the Summit won’t be all work and no play. I hear that we’ll take a tram ride and walking tour through Prague’s beautiful old town. Then we’ll share a meal in one of the city’s great restaurants. I’m looking forward to it. Watch this space for my blog post after the event.

3 Cool Social Products!

I discovered these interesting products on social.

I’d love ones that you’ve seen!

  1. Higi –It like a Klout score that combines your  eating and activity habits, all the while ranking your score, scoring pictures of food for calories and protein , etc.   They have ‘stations’ set up in drugstores so that you can weigh in, test your blood pressure, etc while combining your “community”  or friends into your overall score.  VERY cool!
  2. Virtual Receptionist / Concierge  — So you are a smaller or medium company and you cannot afford an assistant, see this video that allows you to have a virtual and smart assistant.   Very furturist — I just landed at an airport and I was directed by an virtual concierge!
  3. Cuelight Pool Table – Yes, gaming!  Cuelight allows you to transform any pool table into a digitally-enhanced video experience. High-definition imagery responds in real-time to every shot. User-selectable themes yield infinite possibilities.   It is real and is already in the Paradise Tower Penthouse, Hard Rock Hotel & CasinoTM, Las Vegas and the Esquire SoHo apartment.  Check it out!

Social in Insurance — Overhyped or unused?

With over 66% of top financially performing companies leverage social in their processes and over 80% positive impact on trust for CEOs who openly communicate on social,  social can mean power to some and hype to others.

In the next 3-5 years the use of social media by Insurers will increase from 4% to 51% as one of the most important mechanisms to engage customers according to IBM CEO study.

Is this because of hype?   I don’t think so.   Financial Services has always been a “social” industry – we are now just shifting from F2F and phone to more online interaction; mirroring the shift of our customers and employees.  The leading FSS companies are using social to explain changes to the financial environment and to provide increased clarity around specific products – partially due to changing regulatory requirements, but also to build trust.

Financial Services as a sector suffers from a major trust gap – social is a powerful capability for building trust

Financial Advisors are using social to engage clients and prospects – using social compliance capabilities to provide support for suitability and records retention.  Many financial companies have embraced external social media for brand promotion, engagement, and marketing. Leading financial companies have also brought social capabilities inside the firewall.  Regulatory requirements necessitate active social compliance monitoring and reporting

Complex, expert-oriented activities (e.g. commercial or specialty underwriting) can be faster (social collaboration) and more accurate (engaging the right people).  Networking social capabilities into traditional core insurance and financial services business processes and legacy systems can create dramatic value while leveraging investments you have already made.

Today I am at Prudential for their Technology Leadership Conference and we will discuss these topics and more!  I’d love your thoughts – especially if you are in the industry!