ROI Omnichannel Presentation in Chicago

Jonathan Kalman

President of Insurance Solutions

Enabling Next Generation Customer

Engagement for Insurance Providers

BCG Analysis and Case Experience

Source: McKinsey

Source: McKinsey

Source: McKinsey

Customer Centricity

NEW RULES. NEW GAME.

“We see our customers as invited guests to a party, and we are the hosts. It’s our job every day to make every important aspect of the customer experience a little bit better.”Jeff Bezos“We see our customers as invited guests to a party, and we are the hosts. It’s our job to make every aspect of the customer experience better.” Jeff Bezos

ONLINE GROWING SHARPLY

ONLINE QUOTES HAVE

DOUBLED

ONLINE SALES HAVE

QUADRUPLED

2004 - 2010

PEOPLE ARE SMARTER

22% Online

Shopping

Increase

32% Decrease In Blind Renewals

75% Shop Their

Renewal

37.5% Increase In Agency

Customers Moving

Online

ALWAYS ON, RICHLY INFORMED, HIGH EXPECTATIONS.

Source: ThinkFinance

Research to Win

Source: ThinkFinance

Purchasing an insurance plan is a ver

y considered decision

Length of Purchase Cycle

Distribution Focused

Distribution Today is OmniChannel

70% of Interaction is Digital

Source: BCG

Distribution Means More Than Sales

Source: BCG

BCG Analysis and Case Experience

AXA Sees Results

OmniChannel Customer

Engagement

Technology Innovations

Digital Strategy?Mobile Strategy ? OmniChannel Strategy ?Mobility? Customer Experience?Customer Engagement? Digital Insurer ? OmniCommerce ?

THE TERMINOLOGY IS MUDDY

Customer Centric

Distribution Centric

OmniChannel Customer Engagement

Distribution Today is OmniChannel

Source: BCG

Implications Across The Value Chain

Source: Secondary Research BCG Analysis

Implications Across The Value Chain Insurance Examples (Patchwork Quilt)

OmniChannelCOMMERCE PLATFORM#1

Fastest growing, most advanced and agile commerce platform -enabling next generation customer engagement

ENTERPRISESOFTWARE

40 years of business software leadership and

solutions expertise

#1

SAP Sees The Future

© 2013 SAP AG. All rights reserved. 24

HYBRIS HAS SEEN THIS MOVIE BEFORE…

A Decade of Experience

RETAIL CONSUMER PRODUCTS

WHOLESALE IM&C

HIGH TECH TELCO MEDIA & ENTERTAINMENT

INSURANCE

2 New Marketing Imperatives

3 Unique Journeys

1 The Brand

4 All Touchpoints

5 New and Dynamic Processes

Best Practices

6 One View of Customer

7 Supports Tomorrow

Support Brands not Channels


PROFILE

IMP

LIC

IT

EX

PLIC

IT

RELEVANCE

NORMALIZATION

ENGAGEMENT

LISTENING

BROWSE

CLICK

OPEN

CLOSE

IGNORE

WALK-BY

HOVER

BUY

REGISTER

SUBSCRIBE

CLAIM

COMPLETE

SEND

SHARE

EVENTS FROM

TRIGGERS TO

Support New Marketing Imperatives


DISCOVER

NEED

RESEARCH

RECEIVE

OFFER

USE

SERVICE

PURCHASERECEIVE

INFORMATION

MISSING

ITEM

POST

REVIEW

HELP &

SUPPORT

BILLING

ISSUE

MAKE

PAYMENT

REPAIR

REPLACE

JOIN

GROUPS

CLAIMS

INCIDENT

CHANGE

ADDRESS

ADDITIONAL

PURCHASE

RECEIVE

OFFER

REFER

FRIENDS

WEB

PRINT

DIGITAL ADS

WORD OFMOUTH

SOCIAL

TV

AGENT

WEBSITE

REVIEWS

SEARCHKW/ADS

CONTACTCENTER

WEBSITE

EMAIL

SOCIAL

AGENTWEBSITE

CONTACTCENTER

CONTACTCENTER

AGENT

CONTACTCENTER

CONTACTCENTERSOCIAL

WORD OFMOUTH

SOCIAL

EMAIL

SUPPORTPORTAL

?

SUPPORTPORTAL

?

BRANDEDCOMMUNITY

?

WHY? BECAUSEEACH CUSTOMERSCRIPTS THEIR OWN JOURNEY

Support Unique Customer Journeys


REFER

FRIENDS

POST

REVIEW

JOIN

GROUPS

TRACK

ORDER

RECEIVE

PACKAGE

MISSING

ITEM

SETUP

PHONE

BILLING

ISSUE

MAKE

PAYMENT

PHONE

DAMAGE

TERMINATE

SERVICE

NETWORK

ISSUE

CHANGE

ADDRESS

RECEIVE

OFFER

DISCOVER

NEED

RESEARCH

RECEIVE

OFFER

USE

SERVICE

RESTART

SERVICE

SHOP &

BUYPURCHASE

RECEIVE

INFORMATION

MISSING

ITEM

POST

REVIEW

HELP &

SUPPORT

BILLING

ISSUE

MAKE

PAYMENT

REPAIR

REPLACE

JOIN

GROUPS

CLAIMS

INCIDENT

CHANGE

ADDRESS

ADDITIONAL

PURCHASE

RECEIVE

OFFER

REFER

FRIENDS

WEB

PRINT

DIGITAL ADS

WORD OFMOUTH

SOCIAL

TV

AGENT

WEBSITE

REVIEWS

SEARCHKW/ADS

CONTACTCENTER

WEBSITE

EMAIL

SOCIAL

AGENTWEBSITE

CONTACTCENTER

CONTACTCENTER

AGENT

CONTACTCENTER

CONTACTCENTERSOCIAL

WORD OFMOUTH

SOCIAL

EMAIL

SUPPORTPORTAL

?

SUPPORTPORTAL

?

BRANDEDCOMMUNITY

?

AWARENESS

INTEREST

DECISION

ACTION

USE

ACTION

ADVOCACY

ADVOCACY

DECISION

USE

WHY? BECAUSEEACH CUSTOMERSCRIPTS THEIR OWN JOURNEY


EVERY JOURNEY IS UNIQUEAND EVERY POINT OF ENGAGEMENT MATTERS

OmniChannel Portal

Supports All Touch Points

CONTENTCOMPLEXITY

PROCESS COMPLEXITY

TOUCHPOINT COMPLEXITY

CHANNEL COMPLEXITY

Supports New and Dynamic Processes

Channels (Channel Optimized Customer Experience)

Sales & Service Processes (Info, Application Management, Quote, Bind & Issue, …)

Content (Web Content, Products, Forms)

Online BranchMobile Call Center Social Print

Front End

Back End

AnalyticsClaim CRM CCMPolicy …

Supports One View of Customer

Supports Tomorrow

Takeaways

Portal:

Mobile

Drive Traffic & Conversion

Sales & Service Processes

OmniChannel

Portal is just the starting point

Benefit from Best Practices and Functional Fit

Insurance Industry Solution based on leading customer experience platform

Fast time to valueRapid implementation due to best practices templates

Top line growth

Leverage online channels to attract business via best-in-class SEO & OmniChannel

Mitigate Channel ConflictsInclude Agents & Brokers in the cross channel purchase process

Achieve higher Customer Engage-ment and Premiums

Targeted Customer Experience optimizing conversion

Reduce Claims & Service Cost

Online Self Service with native Call Center Integration

Business Flexibility in a rapidly changing environment

Agile Architecture – The last customer experience platform you‘llever need

Consolidate & GrowShield end user experience from backend complexity across LoBsand M&A transactions

Benefits are significant

Source: Celent

Investment in OmniChannel is Accelerating

75% Insurance Sales Online by 2020

Source: Google

2 Place Multiple Digital Bets and Reward Risk Taking

3 Do Things Differently, Then Do Different Things

1 Know their Customers and Personalize Interactions

4 Digital Talent, Digital Experience, Digital Trainin g

5 Test and Learn Grounded In Analytics

OmniChannel Leaders:

Return on IntelligenceJonathan [email protected](610) 585-0285

Thank you

© 2014. Return on Intelligence. All Rights Reserved.

ROI Omnichannel Presentation in Chicago

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