The premise was simple. Given the hype around digital you might be excused for thinking that you need to re-platform everything, rip out what you currently have – and start again – to remain relevant in the modern insurance market.
Especially given the threat from fleet-of-feet start-ups operating with a clean piece of paper and no legacy technology.
But it should not be forgotten that as a legacy organisation you have a number of things that start-ups would love to have. Including data and customers, and that is just for starters.
The latest Ofcom media report has been released, and here are some of the highlights:
On the BBC revenue: 20% of people don’t know how BBC TV is funded, over a third of people don’t know how the BBC website is funded, and almost half don’t know how BBC iPlayer is funded.
Almost a half of people don’t know how search engines make money, and 56% of people don’t know how YouTube is funded. (Answer: it’s owned by Google and has lots of video ads).
Incredibly, 31% of people don’t know how commercial TV is funded. (Answer: Adverts and sometimes subscriptions)
The social network unknowns: In socio-economic terms, why do 74% of the AB group have a social media profile, and for DE it’s only 56%? Yet C1 has the highest percentage of social media profiles. Also, “One in seven adults of working age in DE households do not use the internet, and when they do, one in five only go online via a smartphone.“
In the UK, 5.5 million homes (around 20% of all homes) now possess a voice activated assistant.
20 per cent of 3-5-year-olds now own their own iPad.
Google and Facebook have more than a fifth of the world’s advertising spending (they have 50-60 per cent of digital advertising spend).
The terms and conditions for Amazon’s Kindle are 73,198 words long and would take around 9 hours to read. I checked this out (link) and the terms are made up from 20 documents, plus the privacy notice.
Compared to the 400 deaths per year from terrorism, more Europeans drown in their own bathtubs, and ten times more die from falling down the stairs.
On Bank Holiday Monday my family and I visited our local Amazon fulfilment centre for a factory tour. It was an eye into the future of robotic automation, and an opportunity to see how something as traditional warehouse stock picking can be reinvented from the ground up.
We visited LTN4, which is in Dunstable (near Luton, Hertfordshire) in the UK. Amazon fulfilment centres are named after their nearest airport codes (Luton airport is less than 10 miles away), and we visited the 4th building on the industrial estate.
From the moment you arrive at the car park, safety is a priority. There are signs every few metres instructing drivers to reverse into spaces.
Inside the warehouse, there are safety signs everywhere. The second priority is security. Employees and visitors need to leave everything except keys, wallet and phone in a locker. There are hundreds of lockers for the 1,200 permanent staff. And there’s even an Amazon locker in the reception area. There are airport-style metal detectors which all staff need to pass through on the way in and out of the warehouse.
Once on the tour, we watched the stock fillers, stock pickers, and two sets of packing teams – for customers who ordered a single item, and on the opposite side of the warehouse, pickers for customers with multiple items. We weren’t allowed to take any photos during the tour, except in the room below. Continue reading Inside an Amazon Fulfilment Centre→
Please share this post with your contacts because it makes me feel better.
It’s time for my annual blog/ RSS feed clean up, and to share my preferred thought-provoking digital news feeds:
1. Chris Matts (The IT Risk Manager). Chris regularly updates his blog with practical advice for technology teams and senior managers such as “executives and transparency”, and he focusses his agile transformation articles on business managers rather than technology teams. That said, there are also a fair number of more technical articles about automated testing and development. https://theitriskmanager.wordpress.com
2. Doc Searls. Doc has several interests, mainly in privacy, photography and technology. Whilst I don’t agree with his extreme views on privacy and anti-advertising, his blogs and other feeds are very interesting to read occasionally. http://blogs.harvard.edu/doc/
Tesla stock was $312 on New Years Day 2018 and finished the year at $333, so on the face of it, the prediction was incorrect.
However, on 7 August, Elon Musk made the headlines by tweeting that “funding secured” at $420. The share price jumped 10% to $379. He was personally fined $20 million, and the company was fined the same amount.
Two months later, the stock was $250. The stock has been relatively volatile since then, climbing back to $376 and back down to $333.