The Future of Insurance

The Future of Insurance – Mark Seich, Chief Customer Experience Officer, Berkley Fire & Marine


Listen Later

Mark Seich has many years of experience with major national and super regional P&C carriers in the industry. Starting in early field management roles, then operational roles leading to leadership responsibilities. Prior to joining Berkley Fire & Marine in January 2020 as Vice President of Marketing, Sales & Distribution, he served as regional vice president overseeing distribution responsibility for a 5 state, over $250 million book of personal and commercial lines business. In his current role as Chief Customer Experience Officer, Mark leads the digital transformation of our products, systems, distribution, and overall experience of our agent and broker partners and policy holders. He also leads all marketing and sales driving initiatives through the field teams and our online distribution channel.

Mark received his Bachelor’s Degree from Indiana University of Pennsylvania, an M.B.A. focused on executive management from Ashland University, and holds the CIC designation.

Highlights from the Show

  • Berkley Fire & Marine is the specialty niche market for Inland Marine within W.R. Berkley, including Builders Risk, Truch-based Cargo - basically anything that's property, moving around, in a short-term fashion
  • Mark joined to focus on their digital distribution efforts, but the company realized that the customer experience was a critical success factor in digital, so his role broadened
  • Specialty Commercial hasn't had much of a CX focus so far, especially as compared to Commercial Lines more broadly or especially in Personal Lines
  • That means Specialty can take lessons learned from Personal lines to see where to focus efforts to catch up
  • Unlike Personal or much Small Commercial, Specialty Lines like what Berkley Fire & Marine write is even more distant from the customer or the end user
  • Claims is an area where experience really matters and can ensure an account doesn't get marketed because of the expertise a specialist within Claims brings
  • Not only are the product specialized, the customers for each product are highly specific, making it hard to find scalability in approaches or solutions, and it complicates the persona work for someone focused on customer experience like Mark and his team
  • That means working for find what can be consistent, while also looking for flexibility in any solution to speak to the highly specific needs of each product and segment
  • Looking ahead, there's a need for Specialty to get a push on having more of a CX focus
  • More broadly, what customer buying patterns are, expectations are permeating from personal experiences to commercial and complex experiences, and for most insurers in any line of business, the post-bind experience generally falls off a digital, seamlessness cliff
  • The flexibility in Inland Marine to manuscript and adjust the form for each risk also creates complexities for automation and scalability to make things easier and smoother for customers, brokers and internal resources because each policy may be different and highly-manual

This episode is brought to you by The Future of Insurance thought leadership series (future-of-insurance.com) from Bryan Falchuk.

Follow the podcast at future-of-insurance.com/podcast for more details and other episodes.

Music courtesy of UPbeat Music, available to stream on Spotify, Apple Music, Amazon Music and Google Play. Just search for "UPbeat Music"

...more
View all episodesView all episodes
Download on the App Store

The Future of InsuranceBy Bryan Falchuk

  • 4.7
  • 4.7
  • 4.7
  • 4.7
  • 4.7

4.7

7 ratings


More shows like The Future of Insurance

View all
Planet Money by NPR

Planet Money

30,650 Listeners

Marketplace by Marketplace

Marketplace

8,755 Listeners

Motley Fool Money by The Motley Fool

Motley Fool Money

3,220 Listeners

WSJ Your Money Briefing by The Wall Street Journal

WSJ Your Money Briefing

1,721 Listeners

EconTalk by Russ Roberts

EconTalk

4,270 Listeners

WSJ Tech News Briefing by The Wall Street Journal

WSJ Tech News Briefing

1,635 Listeners

HBR IdeaCast by Harvard Business Review

HBR IdeaCast

1,825 Listeners

Podcasts - Insurance Journal by Insurance Journal

Podcasts - Insurance Journal

24 Listeners

Up First from NPR by NPR

Up First from NPR

56,419 Listeners

InsTech - insurance & innovation with Matthew Grant & Robin Merttens by InsTech

InsTech - insurance & innovation with Matthew Grant & Robin Merttens

9 Listeners

The Game with Alex Hormozi by Alex Hormozi

The Game with Alex Hormozi

4,434 Listeners

The Insurance Podcast by Pete Tessier & Curt Wyatt

The Insurance Podcast

2 Listeners

The Peter Attia Drive by Peter Attia, MD

The Peter Attia Drive

8,995 Listeners

The Insurance Guys Podcast by Scott Howell & Bradley Flowers

The Insurance Guys Podcast

205 Listeners

The Journal. by The Wall Street Journal & Spotify Studios

The Journal.

6,079 Listeners