Podcast: How to Become a Digital Marketplace Like Amazon Using Omnichannel Strategy

The insurance industry is one of the top 5-10 industries to be disrupted in the next 10 years through autonomous vehicles, internet of things and changing consumer demands.

Insurance Australia Group (IAG), the largest general insurer in Australia and New Zealand, has ambitious plans to lead the digital transformation of the insurance industry by becoming the “Amazon of insurance.” The company plans to do this by going from selling insurance products to becoming an “ecosystem” or marketplace for insurance and safety. 

In this podcast, we hear from Brent Burgess, a digital technology executive at IAG, on how the company plans to achieve its ambitions.

“Amazon started out selling books, but selling books wasn’t the experience. They were building a platform that would enable them to sell other Amazon products, and eventually anybody’s products,” says Burgess. “As we build out these platforms which deliver highly personalized and frictionless experiences, it’s going to enable us to start selling products and services related to or outside of insurance.”

For instance, a home insurance policy might come bundled with home maintenance service, or car insurance might come with roadside service assistance provided by a third party.