Current Situation
Legacy systems of incumbents do not support the integration of internal and external data to present customer behavior and buying patterns in a way that is actionable for meaningful and relevant engagement. Siloed approach restricted to line-of-business, local, or even department level exists that hinder the delivery of consistent marketing messages. There is also a lack of customer touch points as many organizations still rely on traditional channels. Country-/region-specific regulations around data and communication also pose challenges.
Goals and Objectives
Harness data obtained for quote, underwriting, pricing, and claims for personalized and event-based targeted marketing and customer communications. Harness data from various external sources (such as public databases, weather or property data, and sensor-generated data) and apply analytics to deliver contextual, predictive communication for individual customers through multiple channels. Leverage partnerships with other industries such as banking or retail to expand the customer outreach. Enable cross-selling and upselling by effective management of content and processes across different departments.
Technology Deployed
Omni-channel architecture, 24 x 7 customer connect, Data lake that supports internal and external structured as well as unstructured data sources, Single data management architecture that includes data integration, data quality management, master data management, and data security, Advanced analytics to drive segmentation, targeted marketing and social media campaigns, Cognitive technologies, Feedback mechanism to monitor and measure marketing performance (e.g., Net Promoter Score or NPS), Digital marketing platforms
Use Case Summary
Streamline and optimize the planning, creation, and delivery of content. Implement an omni-channel marketing and customer communications strategy to ensure contextual, personalized, and meaningful interactions across the customer journey beyond traditional touch points (quote, sales, renewal, or claims) to build long lasting relationships and brand loyalty. Enable every customer interaction to enhance every other interaction in the most economical way possible.