When I ask my daughter how college is going, she says, “Check my Instagram.” My daughter, and her entire generation, will be Nationwide’s future customers in only a matter of years. How does an insurance company that has sold products through a network of agents engage with this new generation in an entirely new way? By rewriting major systems, adapting the company culture, and moving beyond business models that have provided over a century of growth. Terrance Williams and Jim Fowler, two senior executives chartered with driving this change, talked with me about the company’s digital transformation.
Martha Heller: How does Nationwide define “digital”?
Terrance Williams (TW): For Nationwide, digital is a means of creating new interactions, new efficiencies, and new business opportunities. It is an acknowledgement that consumer expectations are at a peak level, and Nationwide has to adapt to meet those expectations.