Using the service encounter to facilitate regulatory change

Hackman, K

Using the service encounter to facilitate regulatory change

Hackman, K

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Publisher:: John Wiley & Sons Ltd.
Publication Type:: Journal Article
Citation:: Strategic Change, 2006, 15 (3), pp. 145 - 152
Issue Date:: 2006-01

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Field	Value	Language
dc.contributor.author	Hackman, K	en_US
dc.date.issued	2006-01	en_US
dc.identifier.citation	Strategic Change, 2006, 15 (3), pp. 145 - 152	en_US
dc.identifier.issn	1086-1718	en_US
dc.identifier.uri	http://hdl.handle.net/10453/15758
dc.description.abstract	The recent spate of corporate collapse and compliance transgressions has increased the amount of regulations that organizations must implement successfully. This paper examines the challenges of implementing regulatory change using the example of the introduction of Financial Services Reform (FSR) for general insurers in Australia specifically considering the impact on customers. FSR introduced a consistent framework of consumer protection across the general insurance industry. However, it also shifted responsibility for decision making about the purchase of insurance to customers in varying degrees. The question was how to engage customers positively when: first, they were required rather than invited to change; second, they had increased responsibility for decisions about purchasing insurance; and third, when regulatory change in general is considered by the customer not to add value. A case study is provided of how Insurance Australia Group (IAG) successfully used the service encounter as a vehicle to educate the customer about FSR, assist them with their new decision-making responsibilities and support the realization of the intended value.	en_US
dc.publisher	John Wiley & Sons Ltd.	en_US
dc.relation.ispartof	Strategic Change	en_US
dc.title	Using the service encounter to facilitate regulatory change	en_US
dc.type	Journal Article
utslib.citation.volume	3	en_US
utslib.citation.volume	15	en_US
utslib.for	1503 Business and Management	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Strength - CMOS - Centre for Management and Organisation Studies
utslib.copyright.status	closed_access
pubs.consider-herdc	false	en_US
pubs.issue	3	en_US
pubs.volume	15	en_US

Abstract:

The recent spate of corporate collapse and compliance transgressions has increased the amount of regulations that organizations must implement successfully. This paper examines the challenges of implementing regulatory change using the example of the introduction of Financial Services Reform (FSR) for general insurers in Australia specifically considering the impact on customers. FSR introduced a consistent framework of consumer protection across the general insurance industry. However, it also shifted responsibility for decision making about the purchase of insurance to customers in varying degrees. The question was how to engage customers positively when: first, they were required rather than invited to change; second, they had increased responsibility for decisions about purchasing insurance; and third, when regulatory change in general is considered by the customer not to add value. A case study is provided of how Insurance Australia Group (IAG) successfully used the service encounter as a vehicle to educate the customer about FSR, assist them with their new decision-making responsibilities and support the realization of the intended value.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/15758