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Highlights

  • Insurance customers expect relevant, personalized engagement from their insurers, and those insurers who provide it are poised for success.
  • Many insurers, however, struggle to get the data-driven insights needed to address their customers changing needs.
  • CI&I for insurance provides access and analytics across siloed data, systems, and devices so insurers can deliver the hyper-personalized products and experiences their customers seek.

In this article

Challenge
Solution
Benefits
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Challenge

Insurers who have long depended on face-to-face meetings to engage and retain customers are struggling to accelerate their digital transformation initiatives to meet the expectations of today's digitally savvy customers. Many insurers cannot look across data silos to understand customer behaviors, sentiments, and preferences and deliver relevant protection and wellness experiences in real time.  ​

  • Marketers are unable to proactively target the right customers with the right insurance products and services via the right channels.​

  • Customer service representatives are not able to respond effectively to customer concerns and complaints​.

  • Agents cannot offer customized information and products focused on the changing life-stage needs of members because they are not empowered with real-time customer information.

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Solution

TCS Customer Intelligence & InsightsTM (CI&I) for insurance, AI-driven customer analytics and real-time customer data platform (CDP) software, provides insurers with pre-built customer experience (CX) use cases for faster time-to-value. 

CI&I provides unified analytics across siloed data systems and devices, so insurers can deliver highly personalized products and individualized customer journeys. Its unique AI-driven persona discovery enables more accurate and targeted segmentation, next-best actions, proactive nudges, and personalized engagements that reduce the cost of marketing campaigns while improving member engagement and driving better outcomes for customers and agents. 

With complete support of data privacy requirements, CI&I utilizes customer preferences, events, and life stage data to dynamically optimize propositions and conversions in real time. CI&I’s low-code platform supports and accelerates the creation of additional use cases ranging from customized claim segmentation to behavioral premium pricing to outcome-based assignment. From fraud and risk management to predictive product configuration, policy renewal, and persistency analysis, CI&I is a win-win for insurers, agents, and members.

 

Benefits

  • Faster time-to-value with purpose-built use cases for insurance​

  • Improved digital and physical interactions with integrated 360° customer views

  • Improved campaign success with AI-driven persona discovery and event-driven next-best actions 

  • Reduced churn for proactive engagement with identification of members likely to cancel coverage  

  • Increased agent book of business

     

Journey to hyper-personalization

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