S4E6: Denise Garth on Insurtech and the Shift to Digital Insurance 2.0
Bridging the digital divide created by changing consumer expectations.
Denise Garth, senior vice president of strategic marketing, industry relations and innovation at Majesco, is back on Denim Rivet. She’s a top 50 Insurtech Influencer – and on today’s episode, she shares her thoughts on the shift to digital insurance 2.0. Our conversation covers the digital divide and how it’s changed since she was last on the show a year ago. Denise also shares what she sees happening in the insurtech ecosystem and marketing trends for 2019 and beyond.
Denim Summit 2018
Denise was at Denim Summit 2018, and we couldn’t be happier to have the continued support from Majesco as one of our sponsors for the event. Denise was happy to see Denim continue its focus on the shifting customer expectations and how to meet those expectations. It is customers that are putting pressure on insurers to change how they approach engagement and what channels they use, which means products need to shift as well to meet those changing needs.
Majesco Convergence 2019
Majesco Convergence is an annual customer conference being held in Savannah, Georgia April 14 – 17, 2019. It brings together some of the best analysts, influencers, and thought leaders the industry has to offer. You can find out more details and information convergence.majesco.com.
Digital insurance 2.0
On Denise’s initial appearance on Denim Rivet, she talked about the digital divide created by the transition from insurance 1.0 to 2.0 — a shift she likened to the splitting of the continents, where some systems and companies would survive and some would go extinct. When we asked her how that divide has fared in the last year, she shared how Majesco’s research has highlighted generational gaps in engaging digitally. Gen Z and Millennials all have much higher expectations for digital engagement. However, Gen X and the Baby Boomers are keeping pace, showing they are acclimating to digital 2.0 —they are using Uber, Netflix, and Airbnb. The more they use these other services, the more their expectations grow as well.
Denim & Majesco Thought Leadership Report
We were thrilled to have partnered with Majesco on a recent thought leadership report: Distribution in the Age of Insurance 2.0: Expanding Reach and Options to Shift Insurance from Being ‘Sold’ to ‘Bought.’ The report dives into why and how distribution needs to shift along with changing customer values and expectations. The report is available for free online at https://www.majesco.com/resources/distribution-digital-insurance/.