E-Business 2010: Opportunities abound

And while commoditisation in personal lines has helped e-business prosper, the more complex nature of commercial lines — even at a basic level of cover — has frequently been cited as a barrier to development.

All of these issues were analysed at Post's e-business conference last week, with the differences between some insurers' extranet quotations and their imarket equivalents sparking debate as to those insurers' motivations. Are some insurers hedging their bets, dragging their feet on imarket with an eye to going direct for small commercial? The debate raged in the coffee breaks.

The subject that prompted the most questions, however, was social networking — as insurers, brokers and suppliers wrestle with how to engage with the likes of Twitter, Linked In and Facebook — especially since advertising creation Aleksandr the Meerkat has amassed a major following through such media. It emerged during the interactive voting session that more than a third of delegates' companies still ban their staff from accessing all three social networking sites via their own networks — highlighting just how far the insurance profession has to go.

One clear message to emerge from the day was that e-business should not be seen as a bolt-on, or the ability to simply replicate existing processes online. It should be seen as a prime opportunity to build a new strategy around a new medium.

The opportunities, threats and challenges posed by the advance of new technology — with mobile wallets just around the corner — make e-business an exciting area to be working in. It is also more transparent and fast-moving.

We had an excellent programme on the day, with some great insights provided by expert speakers from outside the industry, including Barclays and Yahoo, as well as e-business masters from within.

Over the next few pages we report on some of the major points to emerge from the conference as well as recent related debates on topical issues. An audio recording of the main presentations, including all the slides, is available at www.postevents.co.uk/e-business.

Anthony Gould, group editor in chief, Post