CLM - Deploy analytics to get a better understanding of your customers

The Customer Lifecycle Deploy analytics to get a better understanding of your customers

What is If Customer Analytics department trying to do?

6th October 2014 – Analytics for Insurance Europe - The Customer Lifecycle Marion Løken – Head of CA, If P&C Norway

Challenges in Customer Analytics

Attract, Retain and Maximize profit

6th October 2014 – Analytics for Insurance Europe - The Customer Lifecycle Marion Løken – Head of CA, If P&C Norway

How can you succeed?

Know your customers!

6th October 2014 – Analytics for Insurance Europe - The Customer Lifecycle Marion Løken – Head of CA, If P&C Norway

Risk Potential Profitability Next move

How do you know what your customer most likely next move?

Defining typical customer journeys

6th October 2014 – Analytics for Insurance Europe - The Customer Lifecycle Marion Løken – Head of CA, If P&C Norway

Consideration phase Purshase

Which type of customer is it? What did he/she buy? How did he/she buy? WHAT’S HIS/HER NEXT STEP?

Beyond the Customer Life Cycle model - Events

event

6th October 2014 – Analytics for Insurance Europe - The Customer Lifecycle Marion Løken – Head of CA, If P&C Norway

Consideration phase Purshase

Crosssell

?

How do you affect the behaviour of your customers?

6th October 2014 – Analytics for Insurance Europe - The Customer Lifecycle Marion Løken – Head of CA, If P&C Norway

Personalized client dialog

The omni-channel challenge

Same message across ALL channels

6th October 2014 – Analytics for Insurance Europe - The Customer Lifecycle Marion Løken – Head of CA, If P&C Norway

How do analytics support that?

It is all about data

6th October 2014 – Analytics for Insurance Europe - The Customer Lifecycle Marion Løken – Head of CA, If P&C Norway

and smart analysts creating insights…

6th October 2014 – Analytics for Insurance Europe - The Customer Lifecycle Marion Løken – Head of CA, If P&C Norway

Which insights?

What is the next move of this customer? How does it match what we would like him to do?

When is this going to happen? Can we push this? Can we avoid it? How?

Can we influence a customer in doing something he did not think about doing?

Measure the results of the actions.

6th October 2014 – Analytics for Insurance Europe - The Customer Lifecycle Marion Løken – Head of CA, If P&C Norway

What matters

CRM

Legal Distribution

Marketing

6th October 2014 – Analytics for Insurance Europe - The Customer Lifecycle Marion Løken – Head of CA, If P&C Norway

Technology

Real-time decisioning

6th October 2014 – Analytics for Insurance Europe - The Customer Lifecycle Marion Løken – Head of CA, If P&C Norway

… and the process

Small wins – testing concepts

Trial and error

Daring environment

6th October 2014 – Analytics for Insurance Europe - The Customer Lifecycle Marion Løken – Head of CA, If P&C Norway

But all in all…

6th October 2014 – Analytics for Insurance Europe - The Customer Lifecycle Marion Løken – Head of CA, If P&C Norway

It is about creating great customer experience

6th October 2014 – Analytics for Insurance Europe - The Customer Lifecycle Marion Løken – Head of CA, If P&C Norway

@: Marion.Loken@if.no