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Marc Bender, Accenture
10th November 2016
Customer Experience –
The Digital Edge
Finity Niche Insurance Conference
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80%Of customers ‘being
promised one thing and
delivered something else’
58%Have switched at least
one service provider in the
past year
83%Of ‘switchers’ believe
companies could have
retained them with better
experiences and
accurate expectations
Source: Accenture Global Consumer Pulse Research 2016; Data for Australia
73%Of customers want more
digital touchpoints when
interacting with businesses
13%Of customers find digital-
physical channels well
aligned
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What does this mean for companies?
Customer Experience –
The Digital Edge
4Copyright © 2016 Accenture All rights reserved.
Today’s agenda
Meet the new Customer – Me2B
CX – The Digital Edge
Implications & Recommendations
5Copyright © 2016 Accenture All rights reserved.
Meet the new
Customer – Me2B
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The customer of today
is vastly different to
the customer of yesterday
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Customers are continuously raising the bar of everything
and their expectations transcend expected boundaries
Today’s Insurance Customer
More empowered More social Higher
expectationsSignificantly different
buying habits
What is driving this change?
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Digital is transforming what customers expect, and how
businesses operate and compete
Accenture Customer Vision 2016
Intelligent
Automation
Liquid
Workforce
Platform
Economy
Predictable
Disruption
Digital
Trust
Extraordinary results
at the intersection of
humans and
machines
Looking to digital
ecosystems for the
next waves of growth
from the Internet of
Every…Things
Technology-driven
business model
innovation from the
outside in
The new value
exchange in
today’s digital
economy
Fundamental change
of operation,
business, and
individuals
Source: Accenture Technology Vision 2016 & Accenture Customer Vision 2016
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Disruptive combinatorial technology evolutions are both
fuelling customers’ expectations and business disruption
Technology S-Curves
Combinatorial
Effect
Key CX Implications
Customisation of
experience in B2C shapes
B2B expectations of ease
of doing business
Platforms provide end to
end basis for new business
models and value
propositions
Machines and software for
greater automation, self
service and lower costs
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Customers are now owning the relationship to
businesses and dictate the ways of interaction
The Me2B Customer
From … Seven Customer Needs for Me2B
1. You know me, you remember me
2. You give me choices
3. You make it easy for me
4. You value me
5. You trust me
6. You surprise me with stuff I can’t imagine
7. You help me to do better and more
Source: Your Customer Rules!: Delivering the Me2B Experiences That Today's Customers Demand; by Bill Price and David Jaffe
B2C
B2B2C
Me2B
To …
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Customer experience is the sum of
impressions formed by a series of
interactions – real and virtual – with
organisations across all phases of the
customer lifecycle
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The path to purchase has changed dramatically, creating
the nonstop customer with liquid expectations
Nonstop Customer Experience
The path to purchase
used to be linear
DISCOVER
CONSIDER
EVALUATE
PURCHASE
USE
Now, enabled by technology, customers are
constantly evaluating, based on all their experiences
Accessible
Continuous
Dynamic
Discover
Consider
Purchase
Use
Expectation Reality
Promise DeliveryEvaluate
X-Industry
&
Open content & channels
Branded content & channelsFor more information: https://www.accenture.com/us-en/insight-nonstop-customer-model.aspx
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In the era of digital and liquid customer
expectations, where we can make
anything we can imagine, focusing on
‘what matters’ is paramount
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Customer
Experience –
The Digital Edge
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In the coming years, everything that can
be digitised will be digitised.
But there’s one thing that can‘t be
digitised…
That’s the customer.
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Companies are beginning to recognise their over-reliance
on digital has come at a high price
The digital disconnect
Too much reliance on digital technologies has
given rise to ‘human-less’ customer services
Human interaction is a vital component of value
creation, even in the ‘digital age’
73%of consumers prefer dealing with
human beings over digital channels
to solve customer service issues
81%of consumers prefer dealing with
human beings over digital channels
to get advice
2xConsumers are more than twice as
likely to be upsold (45 percent vs. 18
percent) through a human interaction
than through a digital channel
48%of consumers say they are willing to pay
a higher price for goods and services if
it ensures a better level of services
Source: Accenture Global Consumer Pulse Research 2016
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Every Customer is a Digital Customer – but different!
This requires a ‘multispeed’ customer organisation
Digital Customer ≠ Digital Customer
Digital Savvy
They make digital
technology part of all
dimensions in their life.
Mobile access is key.
Experimental
They strive to leverage
digital more broadly but
may not always be able
to do so.
Traditional
They mostly rely on
traditional channels &
interactions. Even then,
they leave digital traces.
Transitional
They selectively engage in
digital for utility value &
discovering how the
experience improves.
Increased Speed / Higher Digital Intensity
For more information: https://www.accenture.com/id-en/insight-create-true-customer-centricity-understanding-customers
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Don’t fall in love with COOL,
fall in love with MONEY
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Example: Increasing digital intensity has a direct impact
on driving customer value AND business value
Digital Intensity is about Money
Digital SavvyExperimentalTraditional Transitional
18% 27% 41% 14%
$1,200 $1,700 $1,400
$410 $850 $370
$1,600 $2,100 $1,950
Banking
Wireless
Retail
5%
Shift$2.4B
$1.5B
$750M
Case Study
Incremental
Revenue p.a.
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Not a single technology but the combinatorial effect of
digital drives huge value at stake
Value at Stake
Analytics Cyber-
Security
Cognitive
Agents
Social CloudMobility IoT/
Sensors
Wearable, Implant & Interface
Virtual
reality
RoboticsDigital
Platforms
Mature Improving / Emerging
EXPERIENCE:CX drives
1.7x ROI
EXECUTION:Up to 30%
cost efficiency
DIGITAL:$1B+ ‘capital-
free’ growth
PLATFORM:First mover to
10x market reach
IIOT:2-3x
Profitability
Combinatorial
Technologies
Value
Multiplier
Intelligent
Automation
Liquid
Workforce
Platform
Economy
Predictable
Disruption
Digital
Trust
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It’s time to …
… Stop admiring the opportunity
… Be digital instead of ‘looking Digital’
… Drive multispeed customer growth
22Copyright © 2016 Accenture All rights reserved.
Implications &
Recommendations
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Playing to win:
Take specific actions on Customer
Experience and build no-regret
capabilities for the digital edge
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Changing behaviours & expectations continue to impact
customer experience and how insurers need to respond
Call to Action
1
Re-think physical channels – they still have their edge
Because of digital focus, get selected human interactions right
Not compromise product quality & service for price
Crack the code of data exchange based on Trust and Value
Solve yesterday’s frustrations to prevent switching today
Be more proactive in retaining and to win back customers
Optimise balance between own and indirect channels
Focus on customer experience to take on disruptors
Expect
Experience
‘Brilliant Basics’
Combine Digital/
Physical Experience
Plug into Disruptive
Experiences
Customers… Companies should…
2
3
4
5
6
7
8
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To succeed, insurers require a clear set of capabilities
around data, innovation, security… AND people
Succeeding in the Digital Era
Built for
Change
Data
Driven
Embrace
Disruption
Digitally
Risk-aware
Changing the basis for
decisions at every level
of the organisation
Moving from data to
insights to action
Using technology to
inspire new visions of
how things can be done
differently
Driving innovation
and value exchange
Integrating security,
privacy and digital
ethics into all new
initiatives
Earning the right to
use and share data
Agile methodologies,
new skills, processes &
ways of working
Creating a culture
that accepts change
26Copyright © 2016 Accenture All rights reserved.
In an age where the focus is locked on
technology, the true leaders will place
people first
THANK YOU !
27Copyright © 2016 Accenture All rights reserved.
Your Contact
Marc Christian Bender
Senior Manager | Accenture Strategy
Advanced Customer Strategy,
Australia & New Zealand Lead
Mobile: +61 428 119 838
E-mail: marc.c.bender@accenture.com
About AccentureAccenture is a global management consulting, technology services and outsourcing
company, with approximately 375,000 people serving clients in more than 120 countries.
Combining unparalleled experience, comprehensive capabilities across all industries and
business functions, and extensive research on the world’s most successful companies,
Accenture collaborates with clients to help them become high-performance businesses and
governments. The company generated net revenues of US$32.0 billion for the fiscal year
ended Aug. 31, 2016. Its home page is www.accenture.com.
About Accenture StrategyAccenture Strategy operates at the intersection of business and technology. We bring
together our capabilities in business, technology, operations and function strategy to help
our clients envision and execute industry-specific strategies that support enterprise wide
transformation. Our focus on issues related to digital disruption, competitiveness, global
operating models, talent and leadership help drive both efficiencies and growth.
For more information, visit www.accenture.com/strategy.
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