Cigna Indonesia: Analyzing 'big data' to support sales
As a life and health insurer, Cigna focuses on its affinity business, where it collaborates with its partners to serve the customer's need for the right insurance product and services. Cigna regularly updates the customer database to improve services for existing customers.
It is important to analyze data accurately to select the right target. That is the main reason Cigna created a Customer Value Management (CVM) Department. The CVM uses SAS to help Cigna sustain the business. Powerful SAS software enables faster, better decision making by improving analysis of vast and growing amounts of data.
“As one of the most rapidly growing insurance companies, we are currently serving 1.3 million customers with asset growth of 39.6 percent at the end of 2011 over the same period in 2010. We realized that we needed to analyze our big data, and we needed a powerful analytical tool in order to identify the right marketing strategy. That’s the reason why we chose SAS,” says Th. Wiryawan, Chief Marketing Officer of Cigna Indonesia.
The CVM department uses SAS to design effective campaigns that improve response rates, determine the precise profile based on personal data, design a contact strategy with tailor-made offers, and optimize results.
Using SAS, the CVM department analyzes data faster and more accurately than before, providing customer insights that telemarketing agents rely on to extend the right offers to the right customers at the right time. SAS has contributed to significant improvements that have increased satisfaction with CVM team performance.
"SAS's ability to handle a large volume of data with reliability has simplified the data-processing activities of our analytical team. After analyzing the customer data, the analytical team makes recommendations to the sales and marketing departments. They work collaboratively to understand the customers," Wiryawan says.
Most business decisions are based on analytical results generated with SAS. By helping Telemarketing target the right customers with the right offers, Cigna Indonesia has won the Infobank Golden Trophy Award for Best Life Insurance Company with Excellent Notation for nine consecutive years, the Call Center Award for Service Excellence for three consecutive years from Marketing Magazine and Carre CCSL (Center for Customer Satisfaction and Loyalty), and the Golden Trophy for Service Quality Award for two consecutive years from Marketing Magazine and Carre CCSL.
To remain competitive going forward, insurance companies must understand how customer needs and behavior change over time. To support business growth, Cigna will use SAS to gain greater customer insights that will result in offers that are even more relevant – and profitable.
About PT Asuransi Cigna
PT Asuransi CIGNA offers insurance products with affordable premiums, easy to get, and marketed through cooperation with business partners, both in the financial institutional sector as well as non-financial institutions. By end of 2011, PT Asuransi CIGNA had cooperated with 24 partners. As the end of 2011, Cigna recorded the solvability ratio level, or called RBC (Risk Based Capital) by 562% far above the government's regulation of 120%.
Along with its growth, PT Asuransi CIGNA has received many awards from respected institutions & business magazines in Indonesia:special award "Golden Trophy Award" as Best Life Insurance Company for 9 consecutive years from Infobank Magazine for year 2003-2011, Best Life Insurance 2010 in category of Insurance with asset of Rp 100 billion – 1 trillion from Investor Magazine, Best Life Insurance 2010 in category of Insurance with asset of more than Rp 250 billion from Media Asuransi Magazine, Call Center Award for 3 consecutive years from CARRE CCSL (Center for Customer Satisfaction & Loyalty) year 2010-2012. And Service Quality Gold Award from CARRE CCSL(Center for Customer Satisfaction & Loyalty) year 2011-2012.
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Th. Wiryawan, Chief Marketing Officer
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“SAS's ability to handle a large volume of data with reliability has simplified the data-processing activities of our analytical team.”
Chief Marketing Officer