There are several reasons your existing customers are your business’ most valuable asset.
Increased profits from sales
Increased profits from reduced operating costs
Increased profits from referrals
Not only is it 3-5 times cheaper to keep a customer than to engage a new one, but studies show that repeat customers pay more for purchases and purchase more often. Satisfied customers also help your business to grow through referrals to friends and family. Continue reading →
It seems more objects than not are connected to the internet in some way or another. Whether it’s traditional technology such as computers, laptops, tablets and smartphones, or the less expected items such as household appliances, toys, cars, and drones; with an internet connection comes the opportunity to save information to what is commonly referred to as ‘the cloud’. But with so many internet-connected-things, surely the cloud is going to run out of space at some point, right? Continue reading →
The uptake of CRM software is growing at a steady rate of approximately 13% each year over the last few years according to reports from Gartner (2014; 2015). And with good reason – CRM software enables companies to grow loyal relationships with their customers by allowing a better understanding, segmentation and tiering of their customer base, improved targeting of promotions and cross selling, and the implementation of alerts that signal a customer is about to depart. CRMs are a complex software that can deliver what many refer to as a ‘360 degree view’ of their customers. Continue reading →
For this month’s post we have taken a slightly different perspective. After an underwhelming firsthand experience with an insurance company that appeared to have missed the bigger picture, we decided that this edition we’d look at how not to implement digital technology. Continue reading →
What impact will Insurtech really have on the insurance industry?
The global insurance industry is valued at $8Trillion. According to San Fran based investment bank, Financial Technology Partners, just last year insurtech companies raised a whopping $2.6 billion. The development of new technologies and the Internet of Things have changed the way people do things, creating new opportunities in an already profitable market and leading to the rise of insurtech. As it sounds, insurtech is insurance transformed by technology and has been gaining attention as a resourceful investment for some time now. Half of incumbents believe they will lose 20% of their business to insurtech start-ups. While it is true that there have recently been significant investments in insurtech, we are yet to see any substantial presence in the market. Will 2017 be the year that insurtech starts making an impact? Continue reading →
You have spent months, maybe even years, researching, determining and introducing a new technology or software into your business. New technology and tools can increase productivity, boost sales, and help you make better, faster decisions for your organisation. While you are probably aware of the many benefits bringing a new technology into the company, you may not be aware of the challenge that often lies ahead: getting your employees on board.
Broking Systems are not developed overnight, they evolve.
Ebix Australia doesn’t release a completely new broking system very often, so it was essential that we celebrate another milestone in the history of Ebix – the launch of Ebix Evolution.
Ebix Evolution is the first native cloud broking system from us, so it isn’t just another broking system released, it is the broking system that will change the technology behind the insurance broking industry. Naturally, our presenters Leon d’Apice and Suzanne Connors, were excited to demonstrate it for our audience. Continue reading →
Almost a year ago we posted on how mobile apps can improve the workplace. Flexibility, communication, productivity, customer expectations, and job satisfaction made up the list of many benefits that apps can bring to a business environment. With these benefits in mind, apps can prove to give your business an edge on your competition. This post we wanted to explore in greater depth just how mobile apps can help your business stay ahead of the competition and help build your brand. Continue reading →
Now that 2016 is well and truly upon us, we can reflect on the year that was 2015. Looking back, it was another big year for technology. We saw the introduction of the driverless car, the Apple Watch, and motorised skateboards; as well as some not so great technological accomplishments, such as the Ashley Madison hack, Lenovo machines shipped with pre-installed adware, and the VW scandal. If the 2016 predictions circulating the internet are anything to go by, the technology evolution is showing no signs of slowing down any time soon.
The technology evolution is not only changing the consumer world as we know it, but the business world too, with more and more companies implementing digital strategies and introducing new technologies to their processes and customer experiences. While it can sometimes feel that technology is evolving at such as a pace it is impossible to keep up, there are a few simple ways for your business to reap the benefits of the digital age. Continue reading →