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- 1. Insurance
and the“New”
Consumer
CONFIDENTIAL
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution. 90153_V2
- 2. 1
SeCtion i
About Agency Solutions Group
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
- 3. 2
Who are these guys?
Agency Solutions Group is a company
formed by Walker digital, focused
exclusively on the insurance marketplace.
Walker Digital is a high-tech growth
lab that is dedicated to creating innovative
business systems that use the tools of the
digital age to unlock extraordinary value.
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
- 4. 3
Walker Digital’s chairman and
founder is Jay Walker
He is one of America’s best-known
entrepreneurs. tiMe magazine calls him
“one of America’s most 50 influential
business leaders in the digital age”…
…and BusinessWeek named Jay Walker
one of the 25 internet pioneers most
responsible for “changing the competitive
landscape of almost every industry in
the world.”
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
- 5. 4
Walker Digital invents business
solutions that sit on top of
large-scale customer networks.
in addition to his role as chief inventor,
Jay is responsible for developing
the company’s strategic relationships
with some of the world’s largest
companies…including time Warner
and international Game technology.
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
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What has Walker Digital accomplished?
• 300 + U.S. business – related patents
issued to date
• 1,000 + U.S. patent applications filed
for us, patents represent a launchpad
for exciting new businesses and real-world
solutions…a way to maximize value
(and protect margins) on the path to
commercialization.
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
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Periodic Table of Lottery Emotions and Behaviors
FEELING DETERMIN- TERRITOR- SENSE OF CELEBRATE
HOPE GUILT FEAR MISTRUST GREED
IMPORTANT ATION IALITY ENTITLEMENT FRUSTRATION DESPERATION FATALISM VICTORY
Ik 10 Dt 75 Wm 70 Wn 2
10 Tl 15 Ms 55 Do 10 Fa 10 Tt 5 Fl 85 Fa 55 Pn 10 Cs 80
I’ve Been at I Lost I’m Going to I Don’t Trust the I Want More
I Know the Someone Has I’m Wasting I’ve Chosen This is My I’m Due I Have to Win It’s Fate Chances to
“Right” Games to Win Money the Wrong this Too Long Store or Overdue Again This Time That I’ll Lose Be Famous Way They Pick
to Give Up Numbers Win
M H H Numbers M M M L H L H M H M
Sy 20 Ro 50 Ex 10 Bl 10 Nl 50 Mn 50 Ao 15 Kp 45 Ms 20 Me 35 Mw 90 Tr 5 Lj 25
I Have I Shouldn’t I Know These I Knew I I Need to My Memories I’m Not Playing
It’s My Turn/ I Will Buy These are My The State People Like of Winning I Don’t Trust
A System I’m Due Buy Expensive Too Many Numbers are Numbers Shouldn’t Escape My Me Don’t Win My Office Pool Until the Jackpot
Tickets Lucky Owes Me Have Played Situation Always Stay
Tickets with Me H Gets Big
H M M L M H L H H H M M
Vt 20 Sc 85 Is 25 Nh 5 It 90 Bs 15 Oo 20 Un 5 Ti 35 Ua 75 Kn 15 Jo 40 Jp 65
I Spend I’ll Miss a Jackpot This is
My Life Can You’ve Got Winners are The Store My Numbers The Jackpot is I Knew Those The Advertised I Want Larger
I’m a Too Much Drawing and My Only Numbers Jackpot is Jackpots for
Veteran Suddenly My Numbers to Be in it to Always from Owes Me are Unlucky Unattainable
Change Win it Way Out Would Hit Overstated My Dollar
L H M Will Hit H M a Big State L L M M H M M
H
Sg 55 Pr 90 Ta 10 Np 10 Pb 50 Fg 60 Dw 90 Ns 15 Lb 55 Fs 65 Sw 20 Dr 35 Ma 40
All My I Haven’t I’ve Chosen The More You I Have a I Need a New I Have I Want More
I’m a Smart Problems Would I Deserve I Always Lose My System The Thing
Player Told Anyone the Wrong Play, the Better Favorite System a Large Bill Worked is Rigged Fun, More
Go Away That I Play Your Chances Game to Win to Pay Action
Game
M H L L M H H M M M M M M
Pd 5 Td 75 Ps 65 Lt 5 Bm 25 Bw 10 Ng 25 Wc 20 Gp 60 Rc 10 Iw 75
I’ve Played People Would What If People I Bought I’m Going I Want a
the Same What if I Lose One Day it’s It’s Not Even I Don’t Trust
Treat Me See Me? My Ticket? Enough Tickets I’m Never to Have a Whole New
Numbers Going to be Me Going to Win Worth Checking the Retail
Differently to Win Great Party Clerk Life
for Years H M M L M L H L M M H
Bp 25 Ei 90 Lr 65 Np 5 Fo 20 Cc 20 Wl 75 Ww 15 Tm 5 At 15
I’ll Be Teased I’m Happy
I Only Play I Could Have Lotteries I’m Starting Some People to Know I Don't Trust I Like to Be in
for the Big Everything Really are If I’m Not to Figure I Didn’t Even are Inherent the Sales Action All the
In the Pool Come Close Someone Else Terminal
Prizes I Want Gambling This Out Winner/Losers Who Won Time
H H M M L M M L L H
Wc 15 Nw 20 Mf 60
Universal Percentage (upper right corner): Percentage of players who experience I Was It’s Not I Want to
the emotion at some time while playing a lottery game (or deciding to play) So Close Possible Win More
to Win Frequently
Intensity (lower right corner): An indication of how powerfully the M M L
emotion affects the player (H=High, M=Medium, and L=Low) Ed 35
Financial Impact (lower left corner): How the emotion impacts the bottom line of the lottery, ranging I Want
from negative impact of 1 to 3 units (red coins) to a positive impact of 1 to 3 units (green coins) an Edge
M
Od 85 Ch 60 Gw 70 Cg 80 Nr 50 Ri 30 Vc 20 Pw 10 Hl 50 Nk 75 On 25
It’s Just My I’d Be Generous Money Goes It’s Not Some Vices I’m Playing One Ticket
RATIONAL- It’s Only Gambling, It’s Part of I Haven’t Lost You Never
Spare Change with the to Something/ My Routine are Worse with My that Much is Not Enough
IZATION a Dollar Common Good Really Winnings Know
Winnings
L L M M M M L H L H H
Kr 45 Pa 10 Sn 10 Nd 20 Sk 5 Hs 10 Fc 10 Bd 15 Re 5 Th 40 Go 20
SPIRITUALITY My Prayers Numbers From
AND I Sense I Always Play My Numbers Numbers Run I Follow My I Use Fortune I Use My Kids’ My Thoughts I Saw a
Good/Bad Will Be the Same Cookie Recent Events Influence the
SUPERSTITION are Due in Streaks Horoscope Birthdays are Drawn Good Omen
Karma Answered Numbers Numbers Outcomes
Frequently L M M
M M L M L M M M
Ml 90 Qj 45 Sp 99 Pf 60 Hm 95 Rw 75 Fv 85 Im 50 Ls 75 Mc 65 Mt 85 Tw 75
What Would I How Would I What Do I Where do I What’s My What’s Really Would I Would I Give I Just Like the
FANTASY How Would I It Could Who Would I
Do with the Spend It? Want to Play Happen to Me Really Want Fantasy Important Take the Money to Give Money to? Thought of
Rest of My Life? Quit My Job? Charities?
For? to Live? Vacation? to Me? Lump Sum? Being a Winner
H M H M H H M L L L L M
Walker Digital Lottery Confidential
How we innovate is an important part of who we are.
We are marketers first, not technologists. First, we study human behavior
and emotion and these insights guide our efforts to develop new models.
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
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Second, we find a solution or adapt a technology.
We focus on inventing new network applications…which can become very large
and profitable, overnight.
Air
Light Conditioner Blender Fast Food
Mail Order Restaurant Shopping
Business Malls
Television Microwave Interstate
Mail Suburbs
Sewing
Toaster Machine Gas
Farming Stations
INTERSTATE
HIGHWAYS
Refrigerator Copier
Railroads
USA Trucking
Vacuum
Cleaner Radio
Office Parks Big Box
/Factories Stores
Clothes
Dryer Computer
Bus Travel RV’s
Electric Clothes
Iron Washer National GPS
Dish
Washer Parks Vacation Navigation
Trips
Electrical Network Applications Highway Network Applications
(1900) (1950)
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
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What kind of relationships does
Walker Digital have?
We’re not vendors, consultants or
technologists.
We are marketers and “solutions suppliers”
to strategic allies and business partners.
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
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We use a broad array of tools and models
to bring our patented ideas and business
solutions into the marketplace.
• partnerships with established companies
• licensing arrangements to other
operating companies
• Creating business prototypes and finding
operating partners
• Strategic financial investors in our
patent portfolio
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
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Multi-billion-dollar industries have experienced
Walker Digital’s market-changing impact.
• Priceline.com, a Walker digital innovation, serves
25 million customers annually by matching buyers
with time-sensitive inventory for profitable bargains.
• Synapse processes tens of millions of magazine
subscriptions with automatic renewals each year,
using a system patented by Walker.
• Retail DNA is testing a “spare change up-sell”
program in quick-serve restaurants as part of an
intelligent poS technology to optimize revenues.
• VendMore Systems is revolutionizing the vending
industry with QuickStore 24, a networked machine
for intelligent, multi-service automated retail.
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
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Case Study #1
Priceline
travel business service suppliers hate losing money on empty
airplane seats, vacant hotel rooms, and idle rental cars. Unfortunately,
offering last-minute, deep discounts on such “perishable commodities”
could significantly harm standard retail price structures.
GREAT LOW Walker digital’s radical insight was that suppliers can offer deep
FARES! discounts on these “soon to expire” services and goods – while
Hurry, sale ends 8/29/08.
preserving standard prices -- by masking brand names and asking
consumers to be slightly flexible on timing.
Priceline offered deep
discounts on “soon to this led to the priceline solution: a powerful use of the internet
expire” services and
goods while preserving to achieve an unprecedented intersection of “partial-knowledge”
standard pricing. supply and demand.
priceline.com has revolutionized the travel industry. this year, priceline
expects to generate nearly $8 billion in gross travel bookings worldwide.
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
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Case Study #2
Federal Express
for many decades, each Christmas U.S. consumers had to choose between
competing desires for instant gratification and for the ability to make catalog
purchases, which UpS insisted required a 7-10 day delivery window.
til
Jay Walker realized this conundrum provided the perfect opening
Deliver y un!
Dec. 23rd r
When you plac
e your orde
by dec. 22nd.
for a potential UpS competitor. federal express could expand beyond its
traditional 1980s niche (premium-priced urgent document delivery for
business customers only) and into residential parcel deliveries…a vastly
more lucrative market.
Federal Express was able to help catalogers
expand their “holiday selling season.” By offering the key insight: consumers would buy more from catalogs with greater
their customers last-minute shipping options,
catalogers increased their revenues and FedEx confidence in on-time delivery – especially at Christmas-time.
increased its bottom line.
By showing catalog firms how to use fedex to keep selling until december 23,
Walker added -- in effect -- a “second Christmas” selling season for catalog
sales every year. Without dropping its prices, fedex became competitive with
UpS, acquiring a giant new market: home deliveries.
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
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Case Study #3
Synapse Group, Inc. (A wholly-owned subsidiary of time inc.)
the $35 billion magazine publishing industry has -- for 250 years --
been stuck with an antiquated, money-losing, and inefficient sales
model: one year at a time subscriptions and direct-mail renewals
that generated only 30% renewals from first-year subscribers.
Walker digital saw that providers of renewable services like
cable tV and telephone had solved this problem with open-ended
subscriptions with automatic rollover.
Walker’s creation of a new, patented “continuous service” model
Synapse’s patented for magazines is far more than a credit card payment option. it
“continuous service”
model for magazines leverages the credibility of every major bank and financial services
eliminated costly and
bothersome renewal provider (including partners Citibank, Chase, and American
packages. express), plus several other industries.
We created an operating company – Synapse – which transformed
the publishing business, becoming the leading third-party provider
of subscribers. time Warner purchased Synapse in 2001 to
strengthen circulation and embrace this emerging new standard.
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
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What does all this mean for the
Insurance Marketplace?
Agency Solutions Group’s mission is to
apply its broad experience in transforming
other consumer industries to the insurance
sector, this enables us to create insurance-
specific inventions to generate growth.
each invention is a versatile tool that
provides the basis for multiple, new,
market-changing solutions for insurance
operations, promotion, sales and profitability.
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
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Why does Walker Digital devote so
much time, attention and resources
to the insurance industry?
Because we see opportunity in the
insurance marketplace.
• opportunity in agent’s ability to adapt
and innovate.
• opportunity in carrier’s potential to
generate sustainable, long-term
revenue growth.
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
- 17. 16
SeCtion ii
Delivering Substantial Long-Term
Growth to Agents and Carriers
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
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Agents and Carriers are not alone in
many of the challenges they face.
from banks to broadcast tV networks,
every consumer market and consumer
industry is asking the same question:
“How can we serve the ‘new consumer’
who is armed with a whole new set of
habits, requirements and technologies?”
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
- 19. 18
We’re all familiar with the macro trends
that are reshaping today’s economy.
For example:
• rapidly advancing technology
• An increasingly mobile society
• the rise of “social commerce”
• the growth of consumer-controlled
content and commerce
But the combined impact of these trends
is still evolving and unfolding.
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
- 20. 19
Just when banks had become used to customers who never saw a teller
but did all their business with ATMs…
now all kinds of credit and debit instruments threaten to eliminate cash completely
from the U.S. economy…and to eliminate banks entirely from the payments
business, as companies like Google and Apple plan for mobile transactions.
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
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A generation ago…
…gas stations successfully transitioned from
“auto service only.” they added C-stores that
sell sodas, hot dogs, and snacks.
now they’re losing those incremental sales
because today’s “pay at the pump” generation
just wants to gas and go.
tomorrow, gas stations may lose half their fuel
sales to the new generation of hybrid electric
vehicles.
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
- 22. 21
Newspapers are in danger of extinction from the Internet…
…as they themselves report. the publisher of the New York Times says in five
years, they may not print a paper edition.
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
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Books are next.
in a generation or less, printed books will
be replaced by electronic media, according
to today’s most successful bookseller:
Amazon.
Will physical books still exist? Amazon’s
Jeff Bezos says:“Sure, just like horses are
still around…even though we all drive cars.”
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
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Obviously, individual examples
of “industries in transition” could be
multiplied case after case.
But the bigger picture is what happens when
you combine all these trends together.
this scale and magnitude of change is a wave
of transformation that is continually redefining
the entire consumer economy… across
America, and worldwide.
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
- 25. PLEASE PULL DOWN
In the past ten years there are many examples
of industries in transition.
See inside.
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THEN… NOW…
U.S. airline industry
will save $3B this
Paper year by going 100% Paperless
(airline tickets) paperless (e-tickets)
Fixed Location/ 95% of all Mobile /
Americans between
Hardwired ages 15-65 own Wireless
(landline) cell phones (Cell phone)
Generation “C”:
Top-Down Design Blogs, YouTube, Bottom-Up Design
& Programming Wikipedia, Linux, & Programming
(aBC, nBC, CBS) Desktop (Blue M&M’s)
Publishing
Redbox
Full Service passed 100 Self-Service
million rentals
(Blockbuster) in February, (redBox)
2008
80 million
One-Way Experience GPS-able units Interactive Experience
(rand Mcnally paper map) will ship in (GpS)
2010 alone
Automatic renewals
Single Transactions save the average Ongoing Relationships
American family
(toll booth) 475 hours a year (e-Zpass®card)
Google lists
1.4 million
Publisher Reviews websites featuring Peer Reviews
(Consumer Reports consumer ratings (Myriads of
magazine) internet reviews)
55,000 possible
Few Possibilities combinations to Abundant Possibilities
(Generic choose from (limitless varieties
coffee-to-go) at Starbucks of coffee flavors)
©2009 agency Solutions Group. all rights reserved. Confidential and proprietary. not for distribution.
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Fundamental changes…
the combined impact of all these forces
means that all consumer-based industries
are experiencing a fundamental change…
not just a short-term dip in revenues due
to a soft economy, or product fatigue.
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
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Adapt and innovate.
Successful industries know that to thrive
in this new environment, they must adapt
and innovate on a broader scale than
ever before.
this applies to the insurance industry,
as well.
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
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Agents and Carriers must look beyond…
that means the traditional set of growth and
retention tools – will not be enough to attract
the “new consumer” .
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
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Important questions arise.
What is the most promising approach
for agents and carriers to attract new
customers? to generate more business
from current customers? And to open up
new markets?
Agents and Carriers need an entirely
new generation of solutions, for the new
generation of consumers.
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
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Innovation is the key.
Agents and Carriers must choose the right kinds of innovation. And, must be
highly selective about choosing innovation partners.
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
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What we offer…
Priceline revolutionized the hospitality
industry. Synapse reinvented the magazine
subscriptions sector.
Agency Solutions Group is prepared to offer
equally bold, market- changing solutions to
the insurance marketplace.
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
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How does an established industry
meet the demands of an ongoing
consumer revolution?
one small step at a time!
Agency Solutions Group has come up with
a carefully conceived roadmap that will help
the insurance industry make this journey in
easy stages.
We’re ready to learn more about your
priorities and explore ways that Agency
Solutions Group can help you accomplish
the things that are most critical to you.
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.
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Thank you.
©2009 Agency Solutions Group. All rights reserved. ConfidentiAl And proprietAry. not for distribution.