IBM Commerce for the Insurance Industry

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C2BCustomer to BusinessThe Future of Commercefor Insurance

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What’s has changed in the world of

Commerce for InsuranceCustomers are more connected and empowered

Competition is coming from new and different areas

Operations and business models are being transformed

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of brands are satisfied with their ability to resolve conflicts with customers

of policyholders do not trust the insurance industry

Source: The Consumer Conversation – eConsultancy Report;

IBM IBV Study “Capturing Hearts, Minds & Market Share”

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A Satisfaction Gap exists

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of policyholders switched their insurer when their needs changed and their insurer couldn’t keep up

WHAT POLICYHOLDERS DO…

Source: IBM IBV Study “Capturing Hearts, Minds & Market Share”

WHAT POLICYHOLDERS FEEL…

Unsatisfied policyholders are 6x more likely to switch insurers

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Insurers need to compete with new entrantsPolicyholders would buy insurance from…

Source: IBM IBV Study “Capturing Hearts, Minds & Market Share”

Banks

Auto dealers (auto insurance only)

Online service providers(e.g Amazon/Google)

Home service providers

Retailers

None of the above

49%

26%

17%

16%

13%

30%

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By 2018, organizations who offer personalization will outsell companies who don’t by more than 30%

VoC initiatives that don't share data across the enterprise will compromise customer satisfaction and loyalty measures by 30%.

83% of consumers are more likely to do business with brands that allow them to control what, when and how they interact

The Customer-to-Business paradigm sets a higher bar

Source: Gartner Research, IBM IBV Study “Winning Over the Empowered Consumer”

Just 33% of insurers say they are collaborating extensively with their customers today

90% of insurance CEOs plan to focus on getting close to the customer in the next 5 years

Many insurers are just beginning to prepare

© 2015 IBM7 Source: IBM IBV C-Suite Study

Only 38% of insurance CEOs have an integrated physical and mobile strategy

Just 34% of insurance CEOs have a cohesive social strategy

Only 33% of insurance CEOs say their mobile strategy facilitates conducting business regardless of location

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Understand your customers’ needs, desires and context

Engage in real-time with your customers, partners and suppliers

Connect your customers to your ecosystem

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A C2B winning insurance strategy

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Winning in insurance means integrating customer engagement with insurers’ value chains

In the back office:

Manage risk

Reshape internal operations

Interconnect ecosystem partners

In the front office:

Gain customer insight

Personalize relationships

Provide a seamless Brand experience

350,000+ Global trading entities connected

IBM Commerce delivers nearly 15x ROI for every dollar spent

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100% of the Global

Fortune top 100 insurance companies have worked with IBM

15,000+ professionals are dedicated to serving the insurance industry

1 billion+ insurance transactions per day are processed on IBM platforms

IBM teams with

17 of the top 20

insurance companies in the US

$100 billioncommerce transactions analyzed Holiday Benchmark Reports

Sources: IBM and Nucleus Research provided for illustrative purposes and is not intended to be a guarantee of future growth rates or market opportunity; IBM analysis

Marketing

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Digital Marketing

Lead Management

CustomerExperienceAnalytics

JourneyDesign

Omni-ChannelMarketing

Real-TimePersonalization

IBM Marketing Cloud IBM Marketing Software

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A French InsurerA French insurance company uses IBM Marketing Solutions to eliminate the complexity from developing profitable email campaigns and aggregate disparate customer date into a single view while also enabling marketers to use analytics to segment customers down to the most specific marketing criteria.

50%

60%

email open rate

reduction in email costs 2x increase in

growth revenue

Sales and Customer Service

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B2CCommerce

B2BCommerce

Cloud and Software Solutions

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A Major U.S. InsurerA U.S. insurer of autos, homes, and small businesses implements a suite of IBM solutions to enhance customer experience and analytics on its eCommerce site.

EnhancedEnhanced customers’ online experience

Gained ability to proactively resolve issues before they occur

Improved overall operating efficiency

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Customer Analytics

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Digital Analytics

SocialAnalytics

PredictiveAnalytics

CustomerExperienceAnalytics

CustomerService

Optimization

Cloud and Software Solutions

Octagon InsuranceOctagon, an early-stage European insurance company used IBM Marketing Solutions to enable the online marketing team to review replays of specific user sessions and quickly uncover why customers were dropping out of the online application process.

22%

40%

increase in conversion rates

reduction in validation errors 330%

Overall ROI

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B2B Integration

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B2BIntegration

ManagedFile

Transfer

Cloud and Software Solutions

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A New York-Based InsurerAn insurer of commercial real estate and commercial businesses upgrades its IBM WebSphere software to enhance the performance of its messaging infrastructure

EnhancedEnabled automatic failover for disaster recovery

Enhanced data security

Increased operating flexibility

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Why choose IBM Commerce?

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Design & Analytics Integration

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Industry Expertise

Join the conversationBlog, YouTube, Twitter, LinkedIn and Facebook

The Future of Commerce is Now

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Additional Slides

HumanaHumana is using IBM Marketing solutions to engage their members with personalized, meaningful, timely and relevant communications.

180%

Increase in email open rates 12M

Members provided with relevant communications

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