Complete Customer Engagement for Insurance

Decoding the digital customer of today

Once upon a time there was a very picky and choosy customer, H. Dunner who lives in Digiville. This new land is one of short sentences, many images, multiple opinions, countless reviews and much chatter focused on decision making. We would like to share an instance where an insurance company worked on creating an engagement with this prospect, by trying to learn about him from the numerous data located across a central repository, trying to find links of past engagement that can be leveraged to cross sell or upsell. But, somehow, that exercise was not very helpful as they were unable to gain any actionable insight due to the lack of a single view into Mr H. Dunner.

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What went wrong?

H. Dunner lives in the digital world, which is fast paced, dynamic and has a lot of information if only one knew how to make sense of it. He shops online, converses via social media, expresses across social channels and yes, considers it a friend in need always. H. Dunner has his expectations, desires and his take on various insurance brands online too. While he looks for a new policy or before he tries to extend his soon to lapse one, he connects, engages and converses with his digital comrades. This is where business is, and this is how one can tap into existing and potential customers like H. Dunner. Insurance needs a rethink and review. Brand building can only happen if a customer like H. Dunner can encounter it in his world - Digiville.

A complete, encompassing single-view is needed that helps in aligning the vast amount of structured and unstructured data lying around on H. Dunner, here.

How does the company generate any insights of a single customers like H. Dunner?

This is where the latest offering from Zensar comes to the rescue. Making complete sense of so much of structured and unstructured data is no mean feat. It requires advanced analytics capabilities which helps in creating actionable insights that leads the company to take, “next best action” within a shorter span of time. H. Dunner can be engaged once the company knows exactly what he is looking for through the data gathered across sources.

I wish I had some insight into how a customer feels or thinks

I would want to know who are my critical customers and who should be handled by senior experts

Is it possible to have some genie to tell me of hidden cross-sell/up-sell opportunities?

So what are the barriers stopping you from signinga customer? Let’s hear some actual thoughts:

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Zensar's complete customer engagement solution is a big data analytics solution that produces intelligence for consumption by various business functions to take 'next best action' at the point of decision.

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Zensar's Customer Engagement Solution is a Big Data analytics solution that produces intelligence for consumption by various business functions to take 'next best action' at the point of decision. It creates a 360° view of customer with regards to customer interactions and transactions.

The key areas addressed by this solution are

Deep Customer 360° insights

Improve Persistency

Better Net Promoter Score (NPS)

Zensar's big data analytics platform is a unified Big Data platform that is scalable and customisable and is ready to process 'Big Data' to deliver key business KPIs. This approach to solve Big Data analytics problems pictorially, add a holistic storyline to H. Dunner.

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What does it do?

Unique algorithms establish customer identity across multiple platforms

Data quality management - summarisation

Build correlation patterns

Text Analytics - sentiment analysis, email analytics using NLP techniques

Builds customer single view - Look at transaction, internal and external data, gathered through web and social channels

Provides predictive models in an easy to consume actionable dashboards and graphs

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Enterprise Data Call logs, Transcripts,

RDBMS, CRM etc

Social DataData Source

InternalExternal

StructuredUnstructured

DISCOVER

Data Management

COMPUTE THINK

AlgorithmsModelingStructure

and Prepare Visualisation

ACT

BusinessDecisions

ActionableInsights

at the Point of Decision

Modeling andExecution

PatternsSummariesCorrelations

Our Approach

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Zensar’s Customer Engagement Platform-Prediction, Retention and Promotion

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The SolutionTMThe Customer Engagement solution by Zensar is powered by Aureus Analytics platform that has multiple Products

based on industry specific problems optimised to run on technologies like R and Hadoop

Solution Overview:

Social Command Center which sources relevant social data

Big Data Pipeline framework readily gets deployed in your environment

Ready-to-use statistical modeling algorithms

Ability to offer the solution on cloud or on premise

10 KPIs pre-built and more can be added as per requirements

Optional EUEM (End User Experience Management) data source to track Customer Experience across your mobile engagement channels

Can be rolled out in a phased manner - either specific client set as focus; or channel; or product category

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What insights can it give us about H. Dunner?

Helps calculate lapse propensity

House holding for customer engagement

Correlation analysis

Persistency modeling and Policy level scoring

Identify network and gaps in distribution

Drive engagement with customers

Increased conversions

Improve Net Promoter Score (NPS)

Intelligent segmentation

Sentiment and Risk analytics

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Zensar’s Customer Engagement Platform

Social Command Centre

Operational Data Marts

Helpdesk Data

End User Experience Management

Segmentation

Net Promoter Score

Engagement

Profiling Householding

Promotion

Prediction

Retention

Persistency

Big data Pipeline

For more information please contact:

marcom@zensar.com | www.zensar.com

Corporate Headquarters: Pune, India

Global Offices: USA | UK | Europe | Africa |

Middle East | China | Singapore | Australia

Zensar Insurance

Zensar has established a mature Insurance practice with deep functional knowledge as well as superior technology competency to address the industry requirements. We are a trusted partner to world's fortune 1000 global Insurance companies. Our domain and business process knowledge is at the heart of our services through which we have continuously delivered business value to our customers and our long lasting relationships are a testimony to that.

In addition to the core industry services, Zensar's solutions for Insurers include SME led modernisation framework, predictive analytics for claims fraud detection, beyond social listening and reinsurance management.

Zensar Technologies

Zensar is a leading software and infrastructure services and solutions provider with industry expertise across Manufacturing, Retail, Insurance, Utilities, Banking, Financial Services and Government. The company delivers comprehensive services for mission-critical applications, enterprise applications, business intelligence and analytics, testing, business process management, e-commerce and digital enterprise services. Using its multi-shore capabilities, Zensar combines expert consulting, integration and support services with world-class customer service to help organisations attain significant business outcomes. Zensar has 8000+ associates with operations across US, Mexico, UK, Europe, Middle East, Africa, India and Asia Pacific.