CEO Wayne Peacock: USAA’s Covid-Driven Customer Experience Innovation In Insurance And FinTech

  • “The pandemic’s onset accelerated our innovation efforts, as members sought ways to stay healthy and save money while relying more on digital interaction with their financial institutions.
  • We recently piloted augmented reality-enabled glasses with field adjusters. Wearing them, the adjusters’ manager can see the damage without physically being present. The pilot eliminated 160 hours of travel time for four adjusters over the course of three months
  • We are now using machine learning to digitize paper medical records and build summaries for applicable life insurance underwriting. This results in a significant reduction in time. Manual summaries took up to five days, but machine learning has reduced the time to one day and improved accuracy.
  • SafePilot enables more members to save up to 30% on their auto insurance policies through safe driving. Last year enrollments increased by 200%.
  • Our mobile interactions increased by roughly 17% shortly after the pandemic was declared, and use of mobile spread significantly to older demographics; Boomers have become a significant mobile audience”

Amazon Vs. Brick And Mortar: Why The Future Of Retail Is Omnichannel

Photo by Daria Nipot/iStock Editorial via Getty Images
  • “Over 8,400 retail stores across the United States closed in 2020.
  • ‘There’s a sort of misconception that e-commerce growth means the end of the store, that e-commerce essentially eliminates the need for the store, both for retailers and for customers…And the reality is, it doesn’t.’
  • But customer preferences are evolving, and COVID-19 sped up that process. If retailers want to survive in the world of tomorrow, they will need to embrace the innovations of an omnichannel strategy.”

New Study: Twice as Many People Plan to Watch the Super Bowl Alone This Year

– “8 percent of people plan to attend a virtual party while twice as many people plan to watch alone this year compared to past years.

– 21 percent of people plan to wear loungewear/pajamas, the same percentage as fans who will still wear fan gear. 6 percent of people plan to wear underwear/nothing at all.

– People expect to spend less on the Super Bowl this year with those spending between $100 and $500 falling 7 percent from last year.

– While the Super Bowl won’t have the same fanfare, COVID-19 hasn’t tamped down excitement with people just as excited for this year’s game as previous years.

– The Super Bowl ranks as Americans’ third most popular holiday. The December holidays and Thanksgiving are the two most popular holidays for Americans.”

New Study: Twice as Many People Plan to Watch the Super Bowl Alone This Year

Why A Robust Ecommerce Strategy Is A Must Today

“By 2020, in fact, the India internet economy is projected to grow to $250 Bn, backed mostly by ecommerce which is set to clock a record growth rate of 51%. And, IBEF predicts that India is likely to overtake the US to become the second-largest ecommerce market (behind China) by 2034.”

Outsell Your Biggest Competitors With These eCommerce Trends [2021]

“In fact, one recent Shopify study that looked at this expedited growth found that during the height of the COVID-19 pandemic, 10 years’-worth of eCommerce growth happened in just 90 days. Yes, you read correctly: in just 90 days.”