Transcript
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Pascal Spelier, July 16th 2014

Customers want an All Channel Experience

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Three drivers for change

Changing customer behaviour

New technology

Changing regulations &

legislation

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The customer wants change

 Lack of trust has changed the relationship between Insurers, banks and customer

The credit crisis changed the purchase drivers Traditional insurance customer is shifting to A new generation insurance customer

Customers demand transparency and simplicity Customers become more and more self-‐directed Social medial create a fundamental shift in the way we communicate

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Technology creates new opportunities

 25 years ago, introduction of internet

10 years ago, introduction of social media 5 years ago, introduction of smartphones

Big data Quantified self Internet of things

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Regulations limit opportunities

 Basel III

Solvency II Local regulations & legislation

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It is not the strongest of the species that survives,

nor the most intelligent that survives.

It is the one that is the most adaptable to

change.

- Darwin -

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Inside Out → Paradigma Shift → Outside In

Single Channel

Customers experience single touch point.

Insurers have a single type of

touch point.

Multi Channel

Customer sees multiple touch points independently

Channels are functional & technical silos).

Cross Channel

Customer sees multiple touch points as part of the same

brand.

Single view but insurers operate in functional silo’s.

All Channel experience

Customers experience a brand, not a channel within

a brand.

ACE is about engaging with customers at every stage of the journey in all their channels

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Do you have the right cards for an All Channel Experience (ACE)?

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Is the insurance industry ready for a digital transformation?

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Digirati: 9% more turnover, 26% more profit

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Customer understanding

Customer touch points

Top line growth

Worker enablement

Performance management

Process digitization

Digital globalization

New digital businesses

Digitally-‐modified businesses

Digital Capabilities

All Channel Experience Customer Experience Operational

Process Customer Experience Business Model

Your building blocks to a digital organization

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Customer understanding

Customer touch points

Top line growth

Worker enablement

Performance management

Process digitization

Digital globalization

New digital businesses

Digitally-‐modified businesses

Digital Capabilities

All Channel Experience Customer Experience Operational

Process Customer Experience Business Model

Your building blocks to a digital organization

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Customer understanding

Customer touch points

Top line growth

All Channel Experience Customer Experience

Your building blocks to a digital organization

Customer Insights & Customer Journey

(Digital) Marketing & Sales

(Digital) Channel Strategy

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Customer understanding

Customer touch points

Top line growth

All Channel Experience Customer Experience

Your building blocks to a digital organization

Customer Insights & Customer Journey

(Digital) Marketing & Sales

(Digital) Channel Strategy

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Product/service differentiation

Employee satisfaction

Process efficiency Process effectiveness

-‐ Customer satisfaction

-‐ NPS

-‐ Sales

-‐ Share of wallet

-‐ Retention

-‐ Referral

-‐ NPS

-‐  Growth revenue

-‐  Market share

-‐  Profitability

-‐ Share holder value

People

Product/service offering

Process

Customer Experience Customer Behaviour High level company KPI’s

Leading indicators Lagging indicators

Chan

ges

in re

gula

tions

and

tech

nolo

gy

deve

lopm

ents

Context

Source: based on Schmitt – Managing the Customer Experience

Determine your motivation for improving customer experience

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Price

Product

Service (Digital) Customer Experience

The road to loyal customers

‘Commodity’ Distinctive by ‘value added services’

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Customer Life Cycle

Awareness Orientate Purchase Receive Use Service Advise

Creating a seamless (Digital) Customer Experience by (re)designing the Customer Journey

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Customer Life Cycle

Awareness Orientate Purchase Receive Use Service

Each Customer Journey has a Customer- & organization side

   Processes

Midoffice

Customer Relationship

Management

Customer Financial

Management

Document Management

Communication Management

Business Process Management Security

Advise

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‘Beware of putting lipstick on a pig‘‘

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How to become really digital?

FRONTEND

hello customer

ISN’T THIS

ENOUGH?

self

directed

CAN I INSURE

MYSELF? the customer is

becoming part of

the processes!

only decoration?

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Customer Journey

Awareness Oriëntation & comparing Advice Insure Advice

prevention Damage

& claiming

Technology

Life events / Products / Services

Voice of the customer: I want..., I need...

Voice of the employee: I want..., I need...

Service Renew insurance

Car Insurance

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23  Credits:  Yvonne  Kroese  

To Measure is to know Quantified Self

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Pay As You Drive Insurance per mile

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Pay How You Drive Insurance

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Warning Smoke or CO2 detection

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The Sharing Economy: sharing is the new buying

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What if cars don’t clash anymore?

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This Mercedes S-‐klasse can drive by itself, well… almost

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For $ 10.000,- every car can drive by itself

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Customer understanding

Customer touch points

Top line growth

All Channel Experience Customer Experience

Your building blocks to a digital organization

Customer Insights & Customer Journey

(Digital) Marketing & Sales

(Digital) Channel Strategy

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Integrating and optimizing the

commercial-‐ and service

activities in channels

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Customer Experience

(Social) Behavior

(Big) Data

Intelligence

What Makes Homer Click?

Observations

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Cross-channel ‘Marketing’ Engine Observation

(data & information)

Trigger

(right message, right channel)

Interpretation (intelligence)

Reaction (call to action)

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Cross-channel ‘Marketing’ Engine Observation

(data & information)

Trigger

(right message, right channel)

Interpretation (intelligence)

Reaction (call to action)

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Our view of the customer should be a collection of observations

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Observations…

… in the de customer journey (also outside the borders of the organization!)

… in processes

… in transactions

… in the context

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The gap of untapped Big Data

23%  

Usef

ul if

Ta

gged

an

d An

alyze

d

3%  

Tagg

ed

0,5%  

Analy

zed

Source: IDC’s Digital Universe, sponsored by EMC, December 2012

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“Big data management is not viewed strategically at senior levels of the

organization.” 56%

“The issue for us is now not the growing volumes of data, but rather being able to analyze and act on data in real-‐time.” 84%

Source: Report ‘The Deciding Factor:Big Data & Decision Making’, Capgemini en Economist Intelligence Unit, June 2012

Three biggest impediments:  

1) Too many silo’s, data is not pooled 2) Lack of skilled people to analyze the data 3) Time taken to analyze large data sets

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Cross-channel ‘Marketing’ Engine Observation

(data & information)

Trigger

(right message, right channel)

Interpretation (intelligence)

Reaction (call to action)

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Age, income, location

Transactions Products/services bought Property,

unemployment Preferences regarding

products/services Preferred channels Sustainable

customer relation

Last product bought and

value

Engagement with different

media

‘Depth’ of product

categories

Behaviour regarding

recurring sales or switch

Use of services

Taking part in loyalty

program

Customer DNA

Traditionally

Use devices

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The future marketeer is a nerd with empathy

Privacy as a currency

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‘Feature’ Vector Customer X: (A,B,C,D,E,....K)

Share of wallet

Preferred channels

Churn

Life events

Next best sell

Et cetera

Customer DNA Derived from data

Bron: IBM

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More rocket science: clustering

Bron: IBM

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Data-driven persona’s

Rank Action Cluster % of Customers

% of Spend

1 Brand lovers 7% 35%

2 Regular customers 12% 15%

3 Online ‘socialites’ 8% 14%

4 ‘Poor’ customer 7% 6%

5 Promising customers 2% 7%

6 Make me an offer 11% 5%

7 Negotiators 2% 4%

8 Try and find me 5% 2%

9 Non loyalists 36% 8%

10 Spoiled customers 1% 2%

11 I’ll be back, maybe 3% 1%

12 Just looking, not buying 6% 1%

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Cross-channel ‘Marketing’ Engine Observation

(data & information)

Trigger

(right message, right channel)

Interpretation (intelligence)

Reaction (call to action)

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richness -‐ +

confidential -‐ +

urgent later now

relevant 1-‐n 1-‐1

intrusive -‐ +

archive -‐ +

richness -‐ +

confidential -‐ +

urgent later now

relevant 1-‐n 1-‐1

intrusive -‐ +

archive -‐ +

Message Channel

Match

Find the ideal match between message and channel

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Cross-channel ‘Marketing’ Engine Observation

(data & information)

Trigger

(right message, right channel)

Interpretation (intelligence)

Reaction (call to action)

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The future marketeer is a nerd with empathy

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Customer understanding

Customer touch points

Top line growth

All Channel Experience Customer Experience

Your building blocks to a digital organization

Customer Insights & Customer Journey

(Digital) Marketing & Sales

(Digital) Channel Strategy

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Channel Introduction Channel Optimization Channel Migration Channel Rationalization

Channel Integration

Focus on the right (digital) channel strategies

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Channel Introduction Channel Optimization Channel Migration Channel Rationalization

Channel Integration

Focus on the right (digital) channel strategies

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Leveraging mobile’

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We Never Looked up

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“Yes, they’ve got WiFi here”

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Isn’t it time for a mobile strategy?

Plateau  →  

Time  →  

1  “I  want  an  app  too”  

2  Mobile  1.0  ‘quick  &  dirty’  

3  Mobile  2.0  ‘neatly  integrated’  

4  Mobile,  leveraging  touch  points  

1  

2  

3  

4  

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Isn’t it time for a mobile strategy?

Plateau  →  

Time  →  

1  “I  want  an  app  too”  

2  Mobile  1.0  ‘quick  &  dirty’  

3  Mobile  2.0  ‘neatly  integrated’  

4  Mobile,  leveraging  touch  points  

1  

2  

3  

4  

Online

________

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Report car damage by using mobile

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‘Mobile first’ insurer

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Digital scanning of healthcare bills

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Your website Anytime, Everywhere?

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Customer understanding

Customer touch points

Top line growth

Worker enablement

Performance management

Process digitization

Digital globalization

New digital businesses

Digitally-‐modified businesses

Digital Capabilities

All Channel Experience Customer Experience Operational

Process Customer Experience Business Model

Your building blocks to a digital organization

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Customer understanding

Customer touch points

Top line growth

Worker enablement

Performance management

Process digitization

Digital globalization

New digital businesses

Digitally-‐modified businesses

Digital Capabilities

All Channel Experience Customer Experience Operational

Process Customer Experience Business Model

Your building blocks to a digital organization

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Customer understanding

Customer touch points

Top line growth

Worker enablement

Performance management

Process digitization

Digital globalization

New digital businesses

Digitally-‐modified businesses

Digital Capabilities

All Channel Experience Customer Experience Operational

Process Customer Experience Business Model

Your building blocks to a digital organization

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Customer understanding

Customer touch points

Top line growth

Worker enablement

Performance management

Process digitization

Digital globalization

New digital businesses

Digitally-‐modified businesses

Digital Capabilities

All Channel Experience Customer Experience Operational

Process Customer Experience Business Model

Your building blocks to a digital organization

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We can help insurers to become a Digirati

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What is your most important…

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Pascal  Spelier    

Managing  Consultant  All  Channel  Experience  Banking  &  Insurance  

 Reykjavikplein    1,  

Utrecht,    The  Netherlands    

Mobile:+31  (0)  6  53  29  90  17  [email protected]  

Thank you!

@spelier