21 July 2011<br />Private & Confidential | Copyright  2011 @ 121advisor<br />INSURANCE 2.0The Way Forward<br />Insurance 2...
Insurance 2.0 : The Way Forward<br />21 July 2011<br />Private & Confidential | Copyright  2011 @ 121advisor<br />Page 2<b...
WHY Insurance 2.0 :The rationale<br />Private & Confidential | Copyright  2011 @ 121advisor<br />21 July 2011<br />
Web 2.0Evolving Role of Internet & World Wide Web<br /><ul><li>Mass Authoring
User = Power</li></ul>Web 2.0<br />Social<br />Personal<br />e.g. Microblogging  -  Facebook  -  Tweets  … …<br />Transact...
Owner = Power</li></ul>21 July 2011<br />Private & Confidential | Copyright  2011 @ 121advisor<br />Page 4<br />
INSURANCE  2.0<br />Insurance 2.0Evolving Role of Internet / Web for Insurance & Takaful<br />Web 2.0<br />Social<br />Per...
WHY Insurance 2.0WHY Insurers should embark on Insurance 2.0<br />Consumers<br /><ul><li>Internet-savvy generation’s Prefe...
Gen-Y fancy on Internet, Social Network & Mobility
Trend & Choice of Communication / Information channel</li></ul>21 July 2011<br />Private & Confidential | Copyright  2011 ...
WHY Insurance 2.0Where Consumers Are : Social Web !<br />21 July 2011<br />Private & Confidential | Copyright  2011 @ 121a...
WHY Insurance 2.0How Consumers prefer to Interact : Where They Are !<br />If insurers are serious about getting closer to ...
WHY Insurance 2.0How Consumers Evaluate Your Brand : Social Web !<br />21 July 2011<br />Private & Confidential | Copyrigh...
WHY Insurance 2.0What Consumers Expect to have : Rich Experience and Fun !<br />Games<br />Simulator<br />Advisors<br />Ch...
WHY Insurance 2.0Where Consumers Prefer to Shop Next : Online !<br />21 July 2011<br />Private & Confidential | Copyright ...
WHY Insurance 2.0How Consumers Talks about You : You can’t Control !<br />21 July 2011<br />Private & Confidential | Copyr...
WHY Insurance 2.0WHY Insurers should embark on Insurance 2.0<br />Consumers <br />Channels<br /><ul><li>Internet-savvy gen...
Gen-Y fancy on Internet, Social Network & Mobility
Trend & Choice of Communication / Information channel
Lower Distribution Cost, More Competitive Pricing
Lower Cost for Marketing, Larger Pool of Leads / Market
Lead generation of younger prospects for Agency force</li></ul>21 July 2011<br />Private & Confidential | Copyright  2011 ...
WHY Insurance 2.0Web Channel : More Competitive Pricing<br />21 July 2011<br />Private & Confidential | Copyright  2011 @ ...
WHY Insurance 2.0Marketing 2.0 : Social Network Marketing<br />21 July 2011<br />Private & Confidential | Copyright  2011 ...
Brand Experience
Brand Campaign
Family
Friends
Network</li></ul>8095 survey 2010<br />Millennials taking action on behalf of Brands<br /><ul><li>57% Millennials would vo...
68% have recommended their products to friends & family and 44 % have friended/followed that brand on their social network...
WHY Insurance 2.0WHY Insurers should embark on Insurance 2.0<br />Consumers<br />Channels<br />Competitions<br /><ul><li>I...
Gen-Y fancy on Internet, Social Network & Mobility
Trend & Choice of Communication / Information channel
Lower Distribution Cost, More Competitive Pricing
Lower Cost for Marketing, Larger Pool of Leads / Market
Lead generation of younger prospects for Agency force
Competitor’s entry to the Insurance 2.0 space
Customer retention against Competitors and New Players
Stay Relevant and position in Market place</li></ul>21 July 2011<br />Private & Confidential | Copyright  2011 @ 121adviso...
WHY Insurance 2.0Taking Lead and Stay Ahead !<br />5<br />6k<br />2<br />167k<br />59k<br />4<br />1<br />157k<br />3<br /...
WHY Insurance 2.0Taking Lead and Stay Ahead !<br />21 July 2011<br />Private & Confidential | Copyright  2011 @ 121advisor...
WHAT TO Insurance 2.0 :the strategy<br />Trends<br />Private & Confidential | Copyright  2011 @ 121advisor<br />21 July 20...
Insurance 2.0Evolving Role of Internet / Web for Insurance & Takaful<br />INSURANCE 2.0<br />Feedback Management<br />Soci...
Insurance 2.0 StrategyCommon Dilemma of Insurance Companies<br />21 July 2011<br />Private & Confidential | Copyright  201...
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Insurance 2.0 : The Way Forward - Rationale, Strategy, Methodology

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What's Insurance 2.0? Why Insurers need to embark on it? What to do and how to implement Insurance 2.0? These are the common questions with Insurers these days.

In this presentation, Don shared the rationale, the strategy and the methodology on why, what and how Insurers are to move forward with Insurance 2.0.

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  • Insurance 2.0 : The Way Forward - Rationale, Strategy, Methodology

    1. 1. 21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />INSURANCE 2.0The Way Forward<br />Insurance 2.0 :<br />The Rationale and The Strategy<br />By Don Tan, Senior VP<br />Business Consultancy<br />
    2. 2. Insurance 2.0 : The Way Forward<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 2<br />
    3. 3. WHY Insurance 2.0 :The rationale<br />Private & Confidential | Copyright 2011 @ 121advisor<br />21 July 2011<br />
    4. 4. Web 2.0Evolving Role of Internet & World Wide Web<br /><ul><li>Mass Authoring
    5. 5. User = Power</li></ul>Web 2.0<br />Social<br />Personal<br />e.g. Microblogging - Facebook - Tweets … …<br />Transactional<br />e.g. Personalized Sites - Feeds - Blogs … …<br />INTERNET<br />Interactive<br />e.g. E-Commerce - Online Shopping - E-payment … …<br />e.g. Chat - Messaging - Forms - Games - Flash … …<br />Informational<br />e.g. Corporate Websites, Product Info Downloads, Banners … …<br />Web 1.0<br /><ul><li>One Way
    6. 6. Owner = Power</li></ul>21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 4<br />
    7. 7. INSURANCE 2.0<br />Insurance 2.0Evolving Role of Internet / Web for Insurance & Takaful<br />Web 2.0<br />Social<br />Personal<br />e.g. Social Network Marketing<br />Friend’s Review & Feedback, <br />Expert / Blogger’s Advice … …<br />Transactional<br />e.g. Simulators - Need Analysis - Product Advisory - Self-Service Process … …<br />INTERNET<br />Interactive<br />e.g. E-Cover Note - E-Proposal - Online Sales … …<br />e.g. Online Quotes - Games - Contests - Request Submission … …<br />Informational<br />e.g. Corporate Websites - Product Catalogue - Downloads … …<br />Web 1.0<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 5<br />
    8. 8. WHY Insurance 2.0WHY Insurers should embark on Insurance 2.0<br />Consumers<br /><ul><li>Internet-savvy generation’s Preference for Self Serviceability
    9. 9. Gen-Y fancy on Internet, Social Network & Mobility
    10. 10. Trend & Choice of Communication / Information channel</li></ul>21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 6<br />Watch “Social Media in Plain English” Video at<br />http://vimeo.com/groups/23930/videos/11551721<br />
    11. 11. WHY Insurance 2.0Where Consumers Are : Social Web !<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 7<br />11.3 mil Malaysians<br />Members<br />> 3 billion views per day<br />(average person spent<br /> 15 min a day on YouTube)<br />726 million<br />200 million<br />> 200 million Blogs<br />119 million<br />3.7 million articles<br />15 million Wikipedians<br />24.5 million pages<br />
    12. 12. WHY Insurance 2.0How Consumers prefer to Interact : Where They Are !<br />If insurers are serious about getting closer to their customers, they should forego conventional “channel” strategy development and instead focus on quality interactions.Based on input from more than 21,000 consumers in 20 countries, we believe insurers need to create an interaction mix that appeals to their particular target audiences. To find out what matters, insurers need to take a different approach to segmenting their customers – one based on psychographicsnot demographics.<br />December 2010<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 8<br />IBM Institute of Business Value<br />
    13. 13. WHY Insurance 2.0How Consumers Evaluate Your Brand : Social Web !<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 9<br />the most credible spokesperson a company can have is a "person like me”… the share of people who trust “a person like me” more than they trust brands or organizations is increasing globally…<br />Brand?<br />Product?<br />Service?<br />global survey 2010<br /><br />agent<br />bank<br />
    14. 14. WHY Insurance 2.0What Consumers Expect to have : Rich Experience and Fun !<br />Games<br />Simulator<br />Advisors<br />Characters<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 10<br />
    15. 15. WHY Insurance 2.0Where Consumers Prefer to Shop Next : Online !<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 11<br />Growing Trends<br />
    16. 16. WHY Insurance 2.0How Consumers Talks about You : You can’t Control !<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 12<br />If you worry about losing control in the age of social media, stop. It has already happened — you no longer control the majority of the information that people hear or trust about your brand.<br />
    17. 17. WHY Insurance 2.0WHY Insurers should embark on Insurance 2.0<br />Consumers <br />Channels<br /><ul><li>Internet-savvy generation’s Preference for Self Serviceability
    18. 18. Gen-Y fancy on Internet, Social Network & Mobility
    19. 19. Trend & Choice of Communication / Information channel
    20. 20. Lower Distribution Cost, More Competitive Pricing
    21. 21. Lower Cost for Marketing, Larger Pool of Leads / Market
    22. 22. Lead generation of younger prospects for Agency force</li></ul>21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 13<br />
    23. 23. WHY Insurance 2.0Web Channel : More Competitive Pricing<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 14<br />Australia: Online Aggregators Threaten Insurers’ Premium Revenue<br />An estimated A$1.8 billion (US$1.97 billion) of commercial and personal insurance premiums are at risk for Australia’s largest insurers from so-called “contestable platforms”, technology that allows brokers and customers to compare prices of products online<br />
    24. 24. WHY Insurance 2.0Marketing 2.0 : Social Network Marketing<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 15<br />Watch “Social Media in Plain English” Video at<br />www.youtube.com/watch?v=MpIOClX1jPE<br /><ul><li>Brand Message
    25. 25. Brand Experience
    26. 26. Brand Campaign
    27. 27. Family
    28. 28. Friends
    29. 29. Network</li></ul>8095 survey 2010<br />Millennials taking action on behalf of Brands<br /><ul><li>57% Millennials would volunteer to try new products from a preferred brand and most would post an online review of the experience
    30. 30. 68% have recommended their products to friends & family and 44 % have friended/followed that brand on their social network</li></li></ul><li>WHY Insurance 2.0Recruitment 2.0 : Hiring via Social Media<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 16<br />In a recent survey of 500 companies, the University of Massachusetts Dartmouth found that 53 percent of them use social media in their hiring processes. These connections start when a candidate mentions a brand or expresses desire in working for a company. In addition to be tech-savvy, these candidates tend to have done their homework: they know more about the company, and are more engaged with the company brand than candidates sourced through more traditional channels.<br />
    31. 31. WHY Insurance 2.0WHY Insurers should embark on Insurance 2.0<br />Consumers<br />Channels<br />Competitions<br /><ul><li>Internet-savvy generation’s Preference for Self Serviceability
    32. 32. Gen-Y fancy on Internet, Social Network & Mobility
    33. 33. Trend & Choice of Communication / Information channel
    34. 34. Lower Distribution Cost, More Competitive Pricing
    35. 35. Lower Cost for Marketing, Larger Pool of Leads / Market
    36. 36. Lead generation of younger prospects for Agency force
    37. 37. Competitor’s entry to the Insurance 2.0 space
    38. 38. Customer retention against Competitors and New Players
    39. 39. Stay Relevant and position in Market place</li></ul>21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 17<br />
    40. 40. WHY Insurance 2.0Taking Lead and Stay Ahead !<br />5<br />6k<br />2<br />167k<br />59k<br />4<br />1<br />157k<br />3<br />3.0m<br />Updated May.2011<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 18<br />
    41. 41. WHY Insurance 2.0Taking Lead and Stay Ahead !<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 19<br />3 millions listeners!<br />
    42. 42. WHAT TO Insurance 2.0 :the strategy<br />Trends<br />Private & Confidential | Copyright 2011 @ 121advisor<br />21 July 2011<br />
    43. 43. Insurance 2.0Evolving Role of Internet / Web for Insurance & Takaful<br />INSURANCE 2.0<br />Feedback Management<br />Social<br />Personal<br />e.g. Social Network Marketing - Feedback / Reviews - Online Advisor … …<br />Customer Service & Retention<br />Transactional<br />e.g. Simulators - Need Analysis - Product Advisory - Self-Service Process … …<br />Commodity Sales<br />(also Complex Products later)<br />INTERNET<br />Interactive<br />e.g. E-Cover Note - E-Proposal - Online Sales … …<br />Marketing &<br />Lead Generation<br />e.g. Online Quotes - Games - Contests - Request Submission … …<br />Informational<br />Information Delivery<br />e.g. Corporate Websites - Product Catalogue - Downloads … …<br />Web 1.0<br />Source : Evolving Insurance Channel Roles – 2009 & Beyond, GARTNER<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 21<br />
    44. 44. Insurance 2.0 StrategyCommon Dilemma of Insurance Companies<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 22<br />
    45. 45. Online Consumer Life CycleManaging Consumer Experience Effectively with CEM 2.0<br />targets / leads<br />aggressors<br />advocates<br />ATTRACT<br />USE<br />e-commerce<br /> suspects<br />internet sales<br />online sales<br />customers<br />e-business<br />EXPERIENCE<br />OWN<br />opportunities<br />prospects<br />INVOLVE<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 23<br />
    46. 46. Consumer Experience Management 2.0Connecting Conversation to Conversion<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 24<br />
    47. 47. Consumer Experience Management 2.0Applying the Right Web 2.0 Value to the Right Audience<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 25<br />Contest<br />Microsite<br />Games<br />Reminders<br />Point-of-Sales<br />Simulators<br />
    48. 48. Insurance 2.0 : A Webassurance ChannelComplementary and Supplementary to all Channels<br />AGENCIES<br />WEBASSURANCE<br />BANCA<br />TELEMKTG<br />CYBER AGENTS<br />PARTNERS<br />BRANCHES<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 26<br />
    49. 49. Insurance 2.0 : A Webassurance ChannelWhat Can be Done ?<br /><ul><li>Social Network Marketing
    50. 50. Internet Campaigns
    51. 51. Online Advertisements
    52. 52. Self Services
    53. 53. Online Support
    54. 54. Feedback Management
    55. 55. Web 2.0 Presence
    56. 56. Social Community
    57. 57. Information Delivery</li></ul>Contact<br />Connect<br />Contain<br />Converse<br />Convert<br /><ul><li>Lead Generation
    58. 58. Qualify Leads/Prospects
    59. 59. Virtual Advisory
    60. 60. Internet Sales
    61. 61. Online Underwriting
    62. 62. E-Policy</li></ul>21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 27<br />
    63. 63. HOW TO INSURANCE 2.0THE METHODOLOGY<br />Private & Confidential | Copyright 2011 @ 121advisor<br />21 July 2011<br />
    64. 64. Insurance 2.0 StrategyKey Success Factors<br />Marketing & Attractions<br />Online Experience<br />Self Serviceability<br />Integrated Process<br />Multi-Channel Integration<br />Strategic Business Plans<br />Value & Unique Propositions<br />Agile & Creative<br /><ul><li>Easy, Fast & Stable
    65. 65. Attractive Presentation
    66. 66. Concise & Updated Content
    67. 67. Personalized
    68. 68. Clear Strategy
    69. 69. S.M.A.R.T Objectives
    70. 70. Feasible Model
    71. 71. Pricing & Rewards
    72. 72. Relevant Values
    73. 73. Unique & Special Features / Fun
    74. 74. Effective Attractions
    75. 75. Efficient Communication
    76. 76. Unique Branding
    77. 77. Simple & Minimal Steps
    78. 78. Guided & Online Help / Response
    79. 79. Private & Secured
    80. 80. Connected End-to-End Process
    81. 81. Straight Through & Seamless Flow
    82. 82. Authentication & Security
    83. 83. Channel Conflict Managed
    84. 84. Cross-Channel Collaboration
    85. 85. Tracking & Monitoring
    86. 86. Agile Development
    87. 87. Experience-focus Design
    88. 88. Customer-oriented Support</li></ul>21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 29<br />
    89. 89. Webassurance Strategy ConsultancyOperationalize Webassurance as Your Insurance 2.0 Channel<br />Strategize<br />To analyze and assess Insurer’s Go-To-Market conditions, Sales and Offerings positions, and Implementation capabilities for Webassurance<br />Analyze<br />To define Market Strategy and Offerings Strategy, perform Impact Analysis, prioritize and propose an effective, realistic and long term Webassurance Strategy Plan for Insurer<br />Organize<br />To plan and propose the Detailed Implementation Action Plan in phases, and mobilize the Resources for the Implementation of Webassurance for Insurer upon approval<br />Realize<br />To execute the Detailed Implementation Action Plan to bring Webassurance live for Insurer<br />Improvise<br />To perform Post Implementation Reviews at the end of each phase or key milestones, assess the achievements, recommend, and fine tune the Implementation Strategy and/or Action Plan where required, continuously<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 30<br />
    90. 90. Webassurance Strategy ConsultancyOperationalize Webassurance as Your Insurance 2.0 Channel<br />Strategize<br />To analyze and assess Insurer’s Go-To-Market conditions, Sales and Offerings positions, and Implementation capabilities for Webassurance<br />To define Market Strategy and Offerings Strategy, perform Impact Analysis, prioritize and propose an effective, realistic and long term Webassurance Strategy Plan for Insurer<br />Analyze<br />To define Market Strategy and Offerings Strategy, perform Impact Analysis, prioritize and propose an effective, realistic and long term Webassurance Strategy Plan for Insurer<br />To assess the Strategy defined, perform Impact Analysis, prioritize and propose an effective, realistic and long term Webassurance roadmap<br />Organize<br />To plan and propose the Detailed Implementation Action Plan in phases, and mobilize the Resources for the Implementation of Webassurance for Insurer upon approval<br />To plan and propose the Detailed Implementation Action Plan in phases, and mobilize the Resources for the Implementation of Webassurance for Insurer upon approval<br />Realize<br />To execute the Detailed Implementation Action Plan to bring Webassurance live for Insurer<br />To execute the Detailed Implementation Action Plan to bring Webassurance live for Insurer<br />Improvise<br />To perform Post Implementation Reviews at the end of each phase or key milestones, assess the achievements, recommend, and fine tune the Implementation Strategy and/or Action Plan where required, continuously<br />To perform Post Implementation Reviews at the end of each phase or key milestones, assess the achievements, recommend, and fine tune the Implementation Strategy and/or Action Plan where required, continuously<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 31<br />
    91. 91. Webassurance Strategy ConsultancyHOW to implement Insurance 2.0 effectively<br />Strategize<br />To brainstorm, validate and define strategy on Business model, Channel and Marketing, and Product and Service Offerings for Webassurance<br />Analyze<br />Includes:<br /><ul><li>Business Objectives
    92. 92. Business Models
    93. 93. Approaches / Tactics</li></ul>Business Strategy<br />Organize<br />Realize<br />Marketing Strategy<br />OfferingsStrategy<br />Improvise<br />Includes:<br /><ul><li>Marketing Strategy
    94. 94. Web Channel Framework
    95. 95. Operational Plan</li></ul>Includes:<br /><ul><li>Product Strategy
    96. 96. Online Product Framework
    97. 97. Services / Product Tools</li></ul>21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 32<br />
    98. 98. Webassurance Strategy ConsultancyHOW to implement Insurance 2.0 effectively<br />Strategize<br />Analyze<br />To assess the Strategy defined, perform Impact Analysis, prioritize and propose an effective, realistic and long term Webassurance roadmap<br />Organize<br />Assess<br />Prioritize<br />Propose<br />Decide<br />Realize<br />Costs-Values-Analysis<br />Improvise<br />GO<br />Values / Returns<br />No-GO<br />Costs / Risks<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 33<br />
    99. 99. Webassurance Strategy ConsultancyHOW to implement Insurance 2.0 effectively<br />Strategize<br />Analyze<br />Organize<br />To plan and propose the Detailed Implementation Action Plan in phases, and mobilize the Resources for the Implementation of Webassurance for Insurer upon approval<br />Realize<br />Improvise<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 34<br />
    100. 100. Webassurance Strategy ConsultancyHOW to implement Insurance 2.0 effectively<br />Strategize<br />Analyze<br />Organize<br />Realize<br />To execute the Detailed Implementation Action Plan to bring Webassurance live for Insurer<br />Improvise<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 35<br />
    101. 101. Webassurance Strategy ConsultancyHOW to implement Insurance 2.0 effectively<br />Strategize<br />Analyze<br />Monitor<br />Manage<br />Organize<br />OPERATIONAL<br />Realize<br />Revise<br />Review<br />Improvise<br />To perform Post Implementation Reviews at the end of each phase or key milestones, assess the achievements, recommend, and fine tune the Implementation Strategy and/or Action Plan where required, continuously<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 36<br />
    102. 102. Use CEM 2.0Applying the Right Web 2.0 Value to the Right Audience<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 37<br />Contest<br />Microsite<br />Games<br />Reminders<br />Point-of-Sales<br />Simulators<br />
    103. 103. Use CEM 2.0Internet Web 2.0 Tool Effectiveness Matrix<br />Example<br /> Very Useful<br /> Useful<br /> May be Useful<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 38<br />
    104. 104. Example<br /><ul><li>Good simulators (especially those with very sound branding, known to be fun and provide value add advisory) may attract visitors to the simulators through word of mouth, popular search results, and recommended links (e.g. on Facebooks)</li></ul>Definition<br /><ul><li>Simulators are Application Tools which simulate conditions, events or outcomes based on input provided by the Users with the objective to generate results that are close to reality.
    105. 105. For Insurance purposes, they are usually used to trigger awareness and attention to the Users on their needs for protection, investment, and/or savings so that they will purchase Insurance policies.
    106. 106. Example of Simulators are:</li></ul>Retirement Planner (What’s Your Number by Prudential)<br />Health Planner (Health Planner by ICICI Prudential – already removed from official website)<br />Education Planner<br /><ul><li>Well-design simulators (e.g. easy, fancy, fun, fast) gives visitors good hands-on experience hence visitors will stay on to the website / simulator to try and complete the simulation process</li></ul>SimulatorDefinition & Effectiveness<br /><ul><li>Users usually willing to input some personal data to simulate results / output as relevant and as close to the reality as possible, e.g. DOB, gender, marital status. These are useful information to understand the prospect and approach appropriately. It’s also good opportunity to capture their contact information.
    107. 107. Simulators usually do not transact any sales of policies, but will lead to Point-of-Sales engine/webpage when prospect intended to purchase.
    108. 108. As life progress and statuses change, users may return to the simulators to perform simulation based on their latest statuses.</li></ul>21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 39<br />
    109. 109. 121advisorfor INSURANCE 2.0<br />Private & Confidential | Copyright 2011 @ 121advisor<br />21 July 2011<br />
    110. 110. 121advisor for Insurance 2.0Solution & Services<br />Insurance 2.0<br />Strategy<br />Consultancy<br />Solution & Services<br />Insurance 2.0 Solution & Campaign<br /><ul><li> Design & Development
    111. 111. Solution Implementation
    112. 112. Outsourcing & Managed Services
    113. 113. Campaign Execution
    114. 114. Web Business Strategy
    115. 115. IT Strategy Planning
    116. 116. Requirement Elicitation
    117. 117. Business Process Innovation</li></ul>21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 41<br />Webassurance Channel Implementation<br />
    118. 118. Web 2.0<br />Portal Management<br />Webassurance<br />for Life & General<br />Channel Management Solution<br />S.a.a.S<br />Solutions<br />Webassurance Strategy Consultancy<br />Cyberagency Strategy Consultancy<br />Web Application Hosting & Management<br />Social Media Outsourcing<br />Services<br />Social Media<br />Management<br />Application Processing – <br />Chat Agents – Site Mgmt<br />Artwork – Blog – Content – Design – E-Learning – Games<br />121advisor : Complete Solution & ServicesInsurance & Takaful 2.0 Enablement<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 42<br />Setup – Monitor – Report – Engage - Manage<br />
    119. 119. More Ideas? Follow Webassurance.org!www.Webassurance.org or Facebook.com/Webassurance.org<br />21 July 2011<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Page 43<br />
    120. 120. THANK YOU<br />Private & Confidential | Copyright 2011 @ 121advisor<br />Web : www.121advisor.com | Email : mail@121advisor.com<br />Tel: +60-3-7498-5212 | Fax: +60-3-7955-6363<br />Follow Us : Facebook | Twitter | LinkedIn | YouTube | Webassurance.org Blog<br />Address : Suite 1208, Level 12 Amcorp Tower, Amcorp Trade Centre, No. 18, Persiaran Barat, 46050 Petaling Jaya, Selangor<br />21 July 2011<br />
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