Reinvent and Reimagine your CX strategy: Forget personalization, it’s passe…we need to hyper personalize to stay relevant in this business of insurance
Tuesday, 13 July 2021 | 11:00 AM – 12:00 PM PHT/SGT/MYT
Hyper-personalisation has taken centre stage as policyholders expect customized offerings/services from insurers through the channel of their choice and at an appropriate time.
World Insurance Report 2020 survey identified a significant gap in customer expectations and insurer offerings. Businesses need to accelerate their efforts from personalization to hyper-personalization to keep up with consumers’ head-spinning adoption of everything digital.
With the surge of customer touchpoints, such as social media, smart devices as well as interactions between insurance specialists and customers allows the aggregation of all the information into valuable and individualized customer insights. As part of that transformation, insurers are able to get more value from new data sources by applying analytics. This will drive better decisions along the insurance value chain – from policyholder insight to underwriting to claims and compliance.
The benefits of hyper-personalisation for insurers are multi fold such as:
- Helps identify potential markets, customers demographics and characteristics to tailor their marketing efforts towards the right direction.
- Gain a holistic, 360 view of individual customers through aggregating data from multiple customer touchpoints - enables engagement with customers at the moments of truth.
- Help identify customers at risk of cancellation, or who require more specialized attention, allowing providers time to remedy issues.
- Identifies and reduces risk of fraud before it happens, by implementing corrective measures in real time.
- Increased brand loyalty from customers.
In this webinar, we are going to share case studies of insurers that have embarked on such a transformation strategy and the benefits gained. Additionally, we will touch on how insurers can get started on this hyper personalisation journey and identify some of the quick wins they can achieve to build brand and customer loyalty.
Country Manager, Philippines
Head of Industry Consulting, APJ
Senior Business Solutions Manager, Asia pacific – CI presales
Customer Intelligence Practice lead