A NEW WAY FORWARD

DIGITALINSURANCE

2 | CSC DIGITAL INSURANCE

Insurer

Indemnification

Term Based

Data Capture

Paper Based

Transaction

Sold by Agents

THE KEY TO YOUR DIGITAL FUTUREIn today’s digital age, consumer buying habits are changing rapidly. Consumers have come to expect ease, immediacy and certain levels of personalization and self-service in everything they do online, and insurers have to find smarter ways to engage them.

At the same time, technological innovations such as cloud, mobility, big data and analytics, and the Internet of Things (IoT) are transforming each step of creating, selling and servicing insurance products. These two elements — evolving consumer expectations and new technologies — are combining to usher in a bold new era for insurers, an era of big threats and even bigger opportunities.

Competing in the Digital Economy

As digital disruption reshapes every aspect of the insurance value chain, many carriers are shifting their focus to the front office and new systems of engagement. This shift will position them not only to better serve their customers, but also to fend off a new breed of competition.

Retailers, manufacturers and digital innovators, unburdened by legacy systems, are joining intermediaries such as agents, advisors and banks to offer insurance services — but they are taking things a step further by also providing customers with a completely different experience.

These new competitors are leveraging the customer relationships they already have and expanding their ecosystem of partners and services to address market segments that are not being well served by incumbent insurers. And with new digital technologies, these competitors can rapidly introduce products relevant to their customers, instantly market and scale those that gain traction, and quickly discard those that don’t.

Insurers who insist on clinging to traditional business models will find themselves marginalized in this new competitive environment.

Traditional insurers are not without their own strengths, however. These strengths just need to be leveraged and enhanced as part of a customer experience reimagined for today’s digital economy. For example, insurers already possess a well-honed ability to efficiently gather and analyze data — a crucial skill required for this increased focus on the customer. A 360° customer-centric view, powered by new forms of data, analytics and automation, will help insurers develop deeper relationships with their customers — relationships that will prove to be longer lasting and more valuable.

By taking advantage of new technologies, including omnichannel engagement platforms, mobility and IoT, big data and analytics, cloud services and simplified integration methods, insurers can make great strides in advancing their customer-facing initiatives.

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CONTINUOUS VALUE FOR CUSTOMERSAs the balance of power shifts from insurers and agents to consumers, the insurance industry is seeing the rapid commoditization of traditional insurance products. And with this commoditization, “share of mind” becomes the new battleground.

Typically, a policyholder gives no thought to insurers after a policy is written and until a claim is submitted or the policy renewed. But in today’s market, if you don’t score more relevance with policyholders in this white space, a competitor will.

Insurers are beginning to rethink their basic value proposition: from one of simple loss indemnification to one of education, prevention and continuous value — creating a lifelong customer relationship that begins with brand awareness and is nurtured through

an ongoing set of positive brand experiences and value-added services. Better data, from more sources, not only supports improved pricing but also can provide better analytical insights delivered back to customers to help them improve their health, increase their net worth, find repair services or prepare for an approaching storm.

New entrants to the field leverage their customer relationships. For traditional insurers to retain customers, they must stay relevant by delivering continuous value throughout the customer lifecycle.

By changing the core value proposition, and thereby changing the very nature of the insurer-policyholder relationship, delivering deep and meaningful customer engagement can become one of an insurer’s most compelling differentiators.

So, how can you move from your current state to a more agile, customer-centric future? CSC’s Digital Insurance Solutions, and our broad ecosystem of value-added partners, offer a new way forward.

ACROSS THE BOARD, MARKET LEADERS ARE TRANSFORMING

Insurer

Indemnification

Term Based

Data Capture

Paper Based

Transaction

Sold by Agents

Ecosystem

Bought by Customers

Customer Experience

Digital/Real Time

Data Analytics

Continuous Value

Usage Based

OUTSIDE-IN

INSIDE-OUT

DELIVERING A DIGITAL CUSTOMER EXPERIENCE FOR INSURANCE

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At CSC, we use the term “digital insur-ance” to describe the future insurance customer experience. Our interpretation is an end-to-end view — from front office to back office — that encompasses everything related to how customers and prospects interact with an insurer.

Digital insurance is largely centered around applications that facilitate engagement, perform business analytics, personalize the user experience, and drive brand differentiation for market share growth. It’s a holistic approach, taking into account the entire customer experience and allowing insurers to engage with customers in ways tailored to their needs and preferences.

As your strategic partner, CSC will guide your transformation into a digital insurer, helping you address the demands of the digitally savvy consumer, provide policyholders with innovative customer-centric products and processes, and move beyond simple indemnification to deliver continuous customer value.

TRANSFORMING EACH STAKEHOLDER’S EXPERIENCE

CSC can help you establish a seamless customer experience across distribution and engagement channels. You can create guided buying journeys tailored to roles, personas and lifecycle stages. Taking this omnichannel approach enables smart engagement, delivering the right message across the right channel at the right time. This benefits not only your organization, but also your brokers, agents and customers.

CSC can help you leverage both internal data and externally available data to drive greater insight and understanding. This means you can offer customers individual-ized content based on profile and activity, personalized pricing based on shared data, and customized value-added recommenda-tions. For customer service representatives and intermediaries, a 360° customer view of all history, with a dashboard recommending actions, can lead to improved sales, service and retention.

At the same time, your organization benefits from customized pricing models that better tie policy prices to risk expo-sure, improved broker tools that increase overall channel effectiveness, and custom-ized value-added communications that improve customer satisfaction.

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CUSTOMERJOURNEY

360°UNDERSTANDING

SMART ENGAGEMENT

AGENT DIRECT

PART

NER

BROKERADVISOR

BANK

Compliant

Proactive

Personalized Relevant

Actionable

Contextual

POLIC Y H O L DERSInte

grated

Behavioral

Unstructured Structured

Predictive

Real-TimePurchase

Consider

Refer Renew

Claim

Enhance

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CSC’S DIGITAL INSURANCE SOLUTIONS To succeed in the digital era, it’s time to reconsider everything — how you design and build new products, go to market, and interface with your agents and customers — while putting digital technologies at the heart of your business model.

CSC’s Digital Insurance Solutions are a comprehensive set of IT services that include: an OmniChannel portal that integrates with digital claims administration, big data platform and analytics services, and the application transformation services required to integrate and customize a customer- centric client engagement process. CSC also provides consulting services to help you with an enterprise-wide transformation of structures, processes and mindsets and provides cloud orchestration capabilities to enable your journey to next-generation infrastructure.

Components include:

BIG DATA PLATFORM AS A SERVICE

CSC’s Big Data Platform as a Service (BDPaaS) is a fully integrated and managed big data environment. Delivered as a subscription service, BDPaaS makes it faster, easier and far less costly to develop and deploy big data applications than other approaches would.

BIG DATA AND ANALYTICS

CSC’s comprehensive portfolio of Big Data and Analytics services supports the planning and execution of your digital insurance strategy. CSC’s Big Data and Analytics services provide a means for you to ingest and analyze data — both structured and unstructured — from new and existing sources, including sensors and telematics devices. We can handle any type of data, regardless of source, and apply the expertise to make the data useful.

FRAUD DETECTION

CSC takes a multifaceted approach to fraud detection, leveraging rules-based analyses, pattern analytics, identity search technology and predictive modeling to recognize potential trends and flag suspicious claims. Just as importantly, CSC helps insurance companies cut down on the number of “false positives” that are referred for further investigation — improving the quality of referrals to the SIU, not just the quantity. By embracing the non-linear, free-form analysis common to big data initiatives, CSC can help uncover fraudulent activity that more traditional, one-dimensional detection systems cannot, and do so with significantly increased efficiency.

UBI

CSC has partnered with leading telematics partners to create one of the top usage-based insurance (UBI) capabilities in the industry, allowing auto insurers to price based on actual driving behavior, streamline and auto-mate claims processes, and establish a foundation for both value-added services and participation in a broader partner ecosystem. CSC’s UBI offering features a strategic alliance with Scope Technologies that integrates Scope’s best-in-class telematics hardware and software with CSC’s industry-leading policy administration and claims management products.

CUSTOMER INTELLIGENCE

A business framework for continuously integrating, enhancing, managing and analyzing customer information, CSC’s Customer 360° offering allows insurance companies to embrace big data in an industry-specific way, helping to acquire new customers while retaining and maximizing value from current customers. Insurers can leverage this solution to aggregate, analyze and visualize data from a variety of sources both inside and outside the enterprise, deriving the kinds of insights that can improve internal decision-making and provide new, value-added services to the end customer.

OMNICHANNEL CUSTOMER ENGAGEMENT

CSC’s OmniChannel system of engagement allows you to deliver an integrated user experience across online, agent, call center personnel and policyholder. This unified digital platform puts your customer at the center of a seamless, consistent, user-directed insurance experience. A customized interface portal addresses the need for an integrated user interface across all channels. The OmniChannel system also enables integration with any digital services or back-end systems of record such as policy administration and claims processing, CRM platforms, analytics platforms, and a broad range of ecosystem partner services.

ACHIEVING GOALS IN THE DIGITAL ERA CSC’s systems of engagement, combined with our transformation services and rich partner ecosystems, lay the foundation to help you add value for your customers and achieve your goals in the digital era.

Our solutions enable:

• Innovative systems to sell and serve policyholders on any device

• Enriched interactions between customers, brokers and agents, and client-facing staff

• Incremental value with policy- driven insights

• New business models and innovative products

• Process transformation to improve operational efficiency and effectiveness

These capabilities benefit not just your enterprise, but also your policyholders. After all, digital insurance isn’t about dictating terms to customers: It’s about anticipating their needs. As you adopt and embrace enabling technologies, you will find a wealth of opportunities to connect with customers in new and meaningful ways.

Better Insights, Better Decisions

With rich new data sources from social media and the IoT, you can amass an unprecedented volume of digital information. And with effective analytics systems, you can improve decision making, increase speed of new product introduction and enhance fraud detection. You can also move from a policy-centric view to a 360° customer-centric view that enables a more personalized customer experience.

Assessing Risk Based on Behavior

Policyholders are willing to share data in exchange for perceived value. By leveraging information from telematics, you can create targeted UBI products as a way to increase customer satisfac-tion and manage profit margins more effectively. For example, property and casualty insurers can establish usage-based car insurance with a risk profile based on an individual’s behavior. And health carriers can leverage wearable devices to incentivize customers with wellness programs and discounted premiums based on lifestyle.

Reimagining the Claims Experience

Digital technologies also give you a truly significant way to transform claims processing, increasing customer satisfaction and delivering substantial bottom-line savings. CSC has partnered with 360Globalnet and has exclusive rights to resell all 360Globalnet offerings, including their advanced digital cloud-based solutions that let customers easily manage the end-to-end claims process via the Internet. Through innovative use of technology, including mobility, self service, video capture, big data and IoT, you can streamline the process and resolve claims faster — sometimes accelerating the payment process from weeks to days or even hours.

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CSC IN INSURANCE BY THE NUMBERS:

45+ YEARS in the insurance industry

1,500+ CLIENTS using CSC’s insurance software

$5B+ annual premiums processed in BPO

500M+ policies under CSC management

EVERY 8 DAYS on average since 1985, CSC has implemented a core insurance platform for an insurer somewhere in the world

MORE THAN 60% of the insurance companies in the Fortune Global 500 are CSC clients

58+ COUNTRIES have a CSC insurance presence

THE CSC ADVANTAGE CSC is focused on helping you optimize your insurance operations through the use of technology. Our rich insurance heritage gives us an unparalleled understanding of the insurance applications landscape. And our in- house breadth and depth of expertise across applications, consulting and industry software — integrated with big data, cloud, cybersecurity and partner relationships — gives us a firm foundation on which to build and manage your new digital business.

CSC has served the global insurance industry for more than 45 years, with expertise in all sectors: life insurance, pensions, annuities, health insurance, property and casualty (P&C) or general insurance, reinsurance and workers’ compensation. CSC’s client base numbers more than 1,500 insurers and self-insured firms around the globe.

We can help you transform into a new type of insurer — one that meets cus-tomer needs better and more profitably. One that sits at the center of an ecosys-tem advising on risks, managing behaviors and supported by rich data insights and operational flexibility.

CSC is ready to help you realize the potential of new opportunities created by change. Now is the time to embrace the concept of digital insurance and take action — adopting agile new operating models that will prepare you for whatever the future holds.

ìFor more information about CSC’s Digital Insurance Solutions, visit csc.com/insurance.

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Regional CSC Headquarters

The Americas1775 Tysons Boulevard Tysons, VA 22102 United States +1.703.876.1000

Asia, Middle East, AfricaLevel 9, UE BizHub East 6 Changi Business Park Avenue 1 Singapore 468017 Republic of Singapore +65.6809.9000

Australia26 Talavera Road Macquarie Park, NSW 2113 Australia +61(2)9034.3000

Central and Eastern EuropeAbraham-Lincoln-Park 1 65189 Wiesbaden Germany +49.611.1420

Nordic and Baltic RegionRetortvej 8 DK-2500 Valby Denmark +45.36.14.4000

South and West EuropeTour Carpe Diem 31 place des Corolles CS 40075 92098 Paris La Défense Cedex France +33.1.55.707070

UK, Ireland and NetherlandsFloor 4 One Pancras Square London N1C 4AG United Kingdom +44.020.3696.3000

About CSC in InsuranceCSC provides insurance companies with the technology and expertise necessary to compete in today’s more digital, more customer-centric environment. With more than 45 years of industry experience, CSC helps insurers orchestrate the journey to next-gen infrastructure, modernized applications, and better, more efficient insurance processes.

With an outside-in approach to insurance, we address specific business needs around digital growth, legacy transformation, efficiency gains and improved speed to market. Leveraging a deep roster of best-of-breed partners, we focus on delivering real business value by enabling clients to take advantage of the most effective technology solutions available.

CSC’s commitment to the insurance market is unmatched, with thousands of dedicated insurance professionals located around the world. Featuring the largest portfolio of insurance software and services in the industry, CSC currently works with more than 60 percent of the insurance companies listed in the Fortune Global 500.

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