In this episode of Insurance Unplugged, host Lisa Wardlaw speaks with Casey Kempton, President of Nationwide PNC Personal Lines, about the future of the insurance industry. They discuss the importance of revolutionizing personal lines through a focus on 'predict and prevent' strategies, enhancing consumer experience, and leveraging technology to create a seamless insurance journey. Casey shares insights from her background in anthropology and her passion for transforming the insurance experience into one that provides genuine peace of mind for consumers. In this conversation, Casey Kempton and Lisa Wardlaw explore the evolving landscape of the insurance industry, emphasizing the importance of understanding consumer perspectives, user-centered design, and the integration of predictive technologies. They discuss the need for insurance to transition from a necessity to a desired service, highlighting the role of curiosity and continuous improvement in driving innovation and enhancing customer experience.
Takeaways
Casey Kempton is the President of Nationwide PNC Personal Lines.
The insurance industry needs to focus on 'predict and prevent' strategies.
Consumers often feel disappointed with their insurance experience.
Insurance should provide peace of mind, not just be a financial contract.
Technology can enhance the consumer experience in insurance.
Preventing claims is more beneficial than just processing them.
Consumers want fewer interruptions in their lives, not fewer claims.
A singular operating system for technology in insurance is needed.
Understanding customer experiences is crucial for innovation.
The insurance industry has a responsibility to make homes and roads safer. We can imagine what everyone is experiencing, but we must check in on that.
User-centered design is critical in building effective insurance solutions.
Understanding the job customers are trying to get done is essential.
Simplicity in design helps in user adoption and satisfaction.
Insurance must adapt to changing consumer needs and preferences.
Predictive technologies can enhance customer experience and retention.
The insurance industry must focus on value beyond just pricing.
Curiosity about technology can lead to innovative solutions.
The future of insurance lies in understanding consumer wants, not just needs.
Continuous improvement is necessary to keep pace with change.
Chapters
00:00 Introduction to Casey Kempton and Nationwide
02:22 Revolutionizing Personal Lines: Predict and Prevent
07:15 Understanding Consumer Experience in Insurance
12:33 The Role of Technology in Prevention
17:03 Navigating Complexity in Insurance Technology
19:33 Understanding Consumer Perspectives
22:11 User-Centered Design in Insurance
24:03 Balancing Cost and Value in Insurance
26:50 Adapting to Changing Consumer Needs
30:26 The Role of Predictive Technologies
35:04 Curiosity and Continuous Improvement in Insurance