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‘Insurance industry doesn’t measure up’ to others

By Kathryn Mayer, September 4, 2014

What does practically every other industry have that the insurance industry doesn’t?

A connection with its consumers.

That’s one reason Americans are, well, just not into insurance, argued Maria Ferrante-Schepis, managing principal, insurance and financial services at Maddock Douglas and co-author of the book “Flirting with the Uninterested: Innovation in a Sold Not Bought Category.”

“Insurance doesn’t measure up to some of the experiences consumers are having these days,” she said during a session Thursday at LIMRA’s 2014 Group and Worksite Benefits Conference in Baltimore, citing Google, Facebook, Amazon and Starbucks as examples of companies with stellar connections to consumers. “Most other industries know their consumer better than the insurance industry.”

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