SAS CI gives insurers the competitive edge

Putting customers’ needs at the heart of financial services.

Under new FCA Pricing Practices guidelines, consumers should receive communications they can understand, products and services that meet their needs and be offered fair value. These pressures to present more transparent options and a seamless, digital process, poses both challenges and opportunities for insurers.

Current economic headwinds mean it is more important than ever that consumers can make good financial decisions and the regulator is driving the financial service industry to give people the support and information they need.

With less churn, focus must be given to upselling and creating great customer experiences. Conversion rates need to improve and abandoned carts need to be diminished as the lifetime value of a customer becomes more important than ever.

Insurers must deliver a higher value exchange to their customers with every digital interaction by adopting a true omnichannel experience to delight and convert every individual.

Insurers across the world are getting closer to the customer  

In Topdanmark, Denmark’s second largest insurance company, our Nordic SAS colleagues helped integrate digital channels with data streams, breaking down functional silos and ensuring a uniform approach to customers across both online and offline touch points. “A quantum leap” and “a real wow experience” were some of the reactions from Topdanmark Omni-Channel Manager Sanne Thomns, when presented with the real-time decision-making and faster campaign time-to-market capabilities of SAS® CI 360.

Across the world, the State Bank of India General Insurance uses SAS® CI 360 to build one view of the customer across policy lifecycle, channels, products, and processes. The Customer Lifecycle Management team gained full control and visibility around Data, Analytics, Customer engagement, and impact measurement, all leading to enhanced customer experiences and an expected 400% faster time-to-market for campaigns.

“The unique ability of the platform to mesh the new age digital journeys and our traditional engagements through agents, call center, messages etc. in real-time will give us the ability to initiate a contextual engagement when the customer is at our channel”, said Sujatha Aroon, Head Business Transformation & Strategic Projects, SBI, General Insurance, about their SAS CI 360 Solution.

Our vision and product roadmap for CI360

The Intelligence needed about customers is evolving and our vision for SAS® CI 360 is focused on improvements to support marketing and customer support teams in addressing these challenges in a number of ways without ripping and replacing existing technology estates:

• Streamline campaign workflows to pro-actively communicate with customers with configurable templates and simplified workflows across functions.
• Plug-in to your data, with direct integration, remove the need for further data stores and cut-out any data latency, to deliver the customer experiences in real-time.
• Accelerate your time to value, drive conversion rates and customer experiences by bringing together offline and online data to target effectively and remove basket drop-out.
• Deliver long term value, increase the life-time value of the customers, by communicating relevant and transparent offerings and services.

In a saturated market the opportunity to capture a larger market share has never been more accessible. By layering intelligence to existing processes, insurers can differentiate and stand out from the crowd by working with SAS.

Put customers at the heart of what you do and remove inefficiencies in customer engagements by landing the right message, in the right channel at the right time.

If you are ready to continue our dialogue, please contact Emma Chester to arrange a meeting:

Emma Chester
Senior Insurance Engagement Lead
Tel: +44 (0) 1628 490427