20140716 presentation all channel experience insurance slideshare v1.0
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Pascal Spelier, July 16th 2014
Customers want an All Channel Experience
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3
Three drivers for change
Changing customer behaviour
New technology
Changing regulations &
legislation
4
The customer wants change
Lack of trust has changed the relationship between Insurers, banks and customer
The credit crisis changed the purchase drivers Traditional insurance customer is shifting to A new generation insurance customer
Customers demand transparency and simplicity Customers become more and more self-‐directed Social medial create a fundamental shift in the way we communicate
5
Technology creates new opportunities
25 years ago, introduction of internet
10 years ago, introduction of social media 5 years ago, introduction of smartphones
Big data Quantified self Internet of things
6
Regulations limit opportunities
Basel III
Solvency II Local regulations & legislation
7
It is not the strongest of the species that survives,
nor the most intelligent that survives.
It is the one that is the most adaptable to
change.
- Darwin -
8
Inside Out → Paradigma Shift → Outside In
Single Channel
Customers experience single touch point.
Insurers have a single type of
touch point.
Multi Channel
Customer sees multiple touch points independently
Channels are functional & technical silos).
Cross Channel
Customer sees multiple touch points as part of the same
brand.
Single view but insurers operate in functional silo’s.
All Channel experience
Customers experience a brand, not a channel within
a brand.
ACE is about engaging with customers at every stage of the journey in all their channels
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Do you have the right cards for an All Channel Experience (ACE)?
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Is the insurance industry ready for a digital transformation?
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Digirati: 9% more turnover, 26% more profit
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Customer understanding
Customer touch points
Top line growth
Worker enablement
Performance management
Process digitization
Digital globalization
New digital businesses
Digitally-‐modified businesses
Digital Capabilities
All Channel Experience Customer Experience Operational
Process Customer Experience Business Model
Your building blocks to a digital organization
13
Customer understanding
Customer touch points
Top line growth
Worker enablement
Performance management
Process digitization
Digital globalization
New digital businesses
Digitally-‐modified businesses
Digital Capabilities
All Channel Experience Customer Experience Operational
Process Customer Experience Business Model
Your building blocks to a digital organization
14
Customer understanding
Customer touch points
Top line growth
All Channel Experience Customer Experience
Your building blocks to a digital organization
Customer Insights & Customer Journey
(Digital) Marketing & Sales
(Digital) Channel Strategy
15
Customer understanding
Customer touch points
Top line growth
All Channel Experience Customer Experience
Your building blocks to a digital organization
Customer Insights & Customer Journey
(Digital) Marketing & Sales
(Digital) Channel Strategy
16
Product/service differentiation
Employee satisfaction
Process efficiency Process effectiveness
-‐ Customer satisfaction
-‐ NPS
-‐ Sales
-‐ Share of wallet
-‐ Retention
-‐ Referral
-‐ NPS
-‐ Growth revenue
-‐ Market share
-‐ Profitability
-‐ Share holder value
People
Product/service offering
Process
Customer Experience Customer Behaviour High level company KPI’s
Leading indicators Lagging indicators
Chan
ges
in re
gula
tions
and
tech
nolo
gy
deve
lopm
ents
Context
Source: based on Schmitt – Managing the Customer Experience
Determine your motivation for improving customer experience
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Price
Product
Service (Digital) Customer Experience
The road to loyal customers
‘Commodity’ Distinctive by ‘value added services’
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Customer Life Cycle
Awareness Orientate Purchase Receive Use Service Advise
Creating a seamless (Digital) Customer Experience by (re)designing the Customer Journey
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Customer Life Cycle
Awareness Orientate Purchase Receive Use Service
Each Customer Journey has a Customer- & organization side
Processes
Midoffice
Customer Relationship
Management
Customer Financial
Management
Document Management
Communication Management
Business Process Management Security
Advise
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‘Beware of putting lipstick on a pig‘‘
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How to become really digital?
FRONTEND
hello customer
ISN’T THIS
ENOUGH?
self
directed
CAN I INSURE
MYSELF? the customer is
becoming part of
the processes!
only decoration?
22
Customer Journey
Awareness Oriëntation & comparing Advice Insure Advice
prevention Damage
& claiming
Technology
Life events / Products / Services
Voice of the customer: I want..., I need...
Voice of the employee: I want..., I need...
Service Renew insurance
Car Insurance
23 Credits: Yvonne Kroese
To Measure is to know Quantified Self
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Pay As You Drive Insurance per mile
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Pay How You Drive Insurance
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Warning Smoke or CO2 detection
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The Sharing Economy: sharing is the new buying
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What if cars don’t clash anymore?
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This Mercedes S-‐klasse can drive by itself, well… almost
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For $ 10.000,- every car can drive by itself
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Customer understanding
Customer touch points
Top line growth
All Channel Experience Customer Experience
Your building blocks to a digital organization
Customer Insights & Customer Journey
(Digital) Marketing & Sales
(Digital) Channel Strategy
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Integrating and optimizing the
commercial-‐ and service
activities in channels
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Customer Experience
(Social) Behavior
(Big) Data
Intelligence
What Makes Homer Click?
Observations
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Cross-channel ‘Marketing’ Engine Observation
(data & information)
Trigger
(right message, right channel)
Interpretation (intelligence)
Reaction (call to action)
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Cross-channel ‘Marketing’ Engine Observation
(data & information)
Trigger
(right message, right channel)
Interpretation (intelligence)
Reaction (call to action)
44
Our view of the customer should be a collection of observations
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Observations…
… in the de customer journey (also outside the borders of the organization!)
… in processes
… in transactions
… in the context
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The gap of untapped Big Data
23%
Usef
ul if
Ta
gged
an
d An
alyze
d
3%
Tagg
ed
0,5%
Analy
zed
Source: IDC’s Digital Universe, sponsored by EMC, December 2012
47
“Big data management is not viewed strategically at senior levels of the
organization.” 56%
“The issue for us is now not the growing volumes of data, but rather being able to analyze and act on data in real-‐time.” 84%
Source: Report ‘The Deciding Factor:Big Data & Decision Making’, Capgemini en Economist Intelligence Unit, June 2012
Three biggest impediments:
1) Too many silo’s, data is not pooled 2) Lack of skilled people to analyze the data 3) Time taken to analyze large data sets
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Cross-channel ‘Marketing’ Engine Observation
(data & information)
Trigger
(right message, right channel)
Interpretation (intelligence)
Reaction (call to action)
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Age, income, location
Transactions Products/services bought Property,
unemployment Preferences regarding
products/services Preferred channels Sustainable
customer relation
Last product bought and
value
Engagement with different
media
‘Depth’ of product
categories
Behaviour regarding
recurring sales or switch
Use of services
Taking part in loyalty
program
Customer DNA
Traditionally
Use devices
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The future marketeer is a nerd with empathy
Privacy as a currency
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‘Feature’ Vector Customer X: (A,B,C,D,E,....K)
Share of wallet
Preferred channels
Churn
Life events
Next best sell
Et cetera
Customer DNA Derived from data
Bron: IBM
52
More rocket science: clustering
Bron: IBM
53
Data-driven persona’s
Rank Action Cluster % of Customers
% of Spend
1 Brand lovers 7% 35%
2 Regular customers 12% 15%
3 Online ‘socialites’ 8% 14%
4 ‘Poor’ customer 7% 6%
5 Promising customers 2% 7%
6 Make me an offer 11% 5%
7 Negotiators 2% 4%
8 Try and find me 5% 2%
9 Non loyalists 36% 8%
10 Spoiled customers 1% 2%
11 I’ll be back, maybe 3% 1%
12 Just looking, not buying 6% 1%
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Cross-channel ‘Marketing’ Engine Observation
(data & information)
Trigger
(right message, right channel)
Interpretation (intelligence)
Reaction (call to action)
55
richness -‐ +
confidential -‐ +
urgent later now
relevant 1-‐n 1-‐1
intrusive -‐ +
archive -‐ +
richness -‐ +
confidential -‐ +
urgent later now
relevant 1-‐n 1-‐1
intrusive -‐ +
archive -‐ +
Message Channel
Match
Find the ideal match between message and channel
56
Cross-channel ‘Marketing’ Engine Observation
(data & information)
Trigger
(right message, right channel)
Interpretation (intelligence)
Reaction (call to action)
57
The future marketeer is a nerd with empathy
58
Customer understanding
Customer touch points
Top line growth
All Channel Experience Customer Experience
Your building blocks to a digital organization
Customer Insights & Customer Journey
(Digital) Marketing & Sales
(Digital) Channel Strategy
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Channel Introduction Channel Optimization Channel Migration Channel Rationalization
Channel Integration
Focus on the right (digital) channel strategies
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Channel Introduction Channel Optimization Channel Migration Channel Rationalization
Channel Integration
Focus on the right (digital) channel strategies
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Leveraging mobile’
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We Never Looked up
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“Yes, they’ve got WiFi here”
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Isn’t it time for a mobile strategy?
Plateau →
Time →
1 “I want an app too”
2 Mobile 1.0 ‘quick & dirty’
3 Mobile 2.0 ‘neatly integrated’
4 Mobile, leveraging touch points
1
2
3
4
65
Isn’t it time for a mobile strategy?
Plateau →
Time →
1 “I want an app too”
2 Mobile 1.0 ‘quick & dirty’
3 Mobile 2.0 ‘neatly integrated’
4 Mobile, leveraging touch points
1
2
3
4
Online
________
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Report car damage by using mobile
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‘Mobile first’ insurer
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Digital scanning of healthcare bills
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Your website Anytime, Everywhere?
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Customer understanding
Customer touch points
Top line growth
Worker enablement
Performance management
Process digitization
Digital globalization
New digital businesses
Digitally-‐modified businesses
Digital Capabilities
All Channel Experience Customer Experience Operational
Process Customer Experience Business Model
Your building blocks to a digital organization
71
Customer understanding
Customer touch points
Top line growth
Worker enablement
Performance management
Process digitization
Digital globalization
New digital businesses
Digitally-‐modified businesses
Digital Capabilities
All Channel Experience Customer Experience Operational
Process Customer Experience Business Model
Your building blocks to a digital organization
72
Customer understanding
Customer touch points
Top line growth
Worker enablement
Performance management
Process digitization
Digital globalization
New digital businesses
Digitally-‐modified businesses
Digital Capabilities
All Channel Experience Customer Experience Operational
Process Customer Experience Business Model
Your building blocks to a digital organization
73
Customer understanding
Customer touch points
Top line growth
Worker enablement
Performance management
Process digitization
Digital globalization
New digital businesses
Digitally-‐modified businesses
Digital Capabilities
All Channel Experience Customer Experience Operational
Process Customer Experience Business Model
Your building blocks to a digital organization
74
We can help insurers to become a Digirati
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What is your most important…
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Pascal Spelier
Managing Consultant All Channel Experience Banking & Insurance
Reykjavikplein 1,
Utrecht, The Netherlands
Mobile:+31 (0) 6 53 29 90 17 pascal.spelier@capgemini.com
Thank you!
@spelier
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