Engaging your customers with video interaction The SmartVideo solution from Accenture Life and Annuity Software

Accenture Life and Annuity Software offers an integrated solution for video-based interactions—SmartVideo. With this service, our clients have an advanced way to enhance customer communications while reducing contact center costs, increasing customer satisfaction and retention, and fostering brand loyalty.

Offered as a standalone service or combined with the Accenture Life Insurance & Annuity Platform (ALIP), SmartVideo gives carriers a way to communicate with their customers throughout the customer engagement lifecycle—from quotations and onboarding to payouts—using personalized client and policy data to generate one-to-one video communications, on demand (See Figure 1).

Designed as a Software-as-a-Service offering, SmartVideo can leverage existing communication channels anytime, anywhere and can be integrated seamlessly into a private or public cloud environment.

Accenture Life and Annuity Software offers SmartVideo integration accelerators out-of-the-box across legacy platforms, regardless of whether they are run on ALIP or through another vendor.

How does SmartVideo work? Real-time data is pushed to the SmartVideo platform, or pulled by it upon request, triggering the creation of a SmartVideo. Using a combination of data and logic, only the most relevant scenes are shown to viewers at each stage of the customer lifecycle.

Figure 1: Video interaction provides benefits throughout the customer lifecycle—from acquire to support to retain to expand

Boost Net Promoter Score and avoid churn through enhanced loyalty marketing initiatives

Increase online revenue while maximizing brand impact

Build confidence and trust while combatting churn and

reducing care costs

Drive up customer value and profitability

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Accenture works with eight of the top 10 and 24 of the top 30 life insurers. Accenture Life and Annuity Software has over 25 years delivering software solutions with an established track record in implementations. Our industry leading products are supported by over 300 knowledgeable, dedicated personnel who are responsible for the ongoing development and delivery of our assets.

Video interaction is an engaging and effective one-to-one experience companies can use at key touch points throughout the customer lifecycle. Yet establishing a video channel for customer interaction has challenged most companies—until now.

Benefits Deliver information through multiple channels SmartVideos are generated in real-time, the moment a viewer clicks “play.” Videos can be delivered via email, SMS, Web pages and mobile apps, helping to meet the need of today’s consumer for instant access to information via multiple channels and mediums.

Reduce contact center costs SmartVideo can reduce customer care expenses by 10 to 20 percent due to deflection and a lower duration of related calls.

Drive uptake of value-added services SmartVideos introduce relevant value-added services or products, such as paperless statements,

autopay and My Account creation, delivering a call-to-action click-through rate of up to 26 percent.

Other Digital Insurance offerings for the life and annuity industry Accenture Life and Annuity Software offers strategic, end-to-end solutions supporting mission-critical life and annuity products and processes. Our Digital Insurance offerings include SmartVideo, Web Recording and Replay, Portals and Mobility. Helping you get products to market faster and more efficiently, while lowering client acquisition costs and reducing Total Cost of Ownership.

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Welcome Video Education Video Upsell Video

Confirm new policy andpayment details, setexpectations for full policydocument arrival, introduceself-serve tools, providepersonalized policy tips

Highlight new policy tips,present new self-servetools, give overview ofbilling details, presentrelevant resources andmarketing offers

Welcome Policy Purchased UpsellEducation

Review existing policy andpresent recommendationsfor additional policies

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Figure 2: Video interaction complements traditional life and annuity communications, from welcoming to educating to upselling

Over time, SmartVideo viewers•Buy more: $8 to $20 in

incremental revenue for every dollar spent

•Cost less: 10% to 20% reduction in related costs

•Stay longer: 5% to 22% reduction in churn rate

•Tell their friends: 80% to 94% positive brand impact rating

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Accenture, its logo, and High Performance Delivered are trademarks of Accenture.

Contact us Nancy Bass Sales and Client Management Lead, Accenture Life and Annuity Software nancy.bass@accenture.com

Or, visit www.accenture.com/lifeandannuitysoftware

About AccentureAccenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions—underpinned by the world’s largest delivery network—Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With more than 358,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com

Accenture’s life and annuity software is part of Accenture Life Insurance Services, within Accenture Financial Services. By applying extensive industry knowledge to continuously enhance its software, Accenture helps insurers reduce operating costs, manage risk and drive growth through improved product development and distribution, enhanced policy administration and distribution, and technology platform consolidation and modernization. The homepage is www.accenture.com/lifeandannuitysoftware.