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TCS - How to build a Digital Insurance company

TCS - How to build a Digital Insurance company






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    TCS - How to build a Digital Insurance company TCS - How to build a Digital Insurance company Presentation Transcript

    • How to Build a Digital Insurance Company Copyright © 2013 Tata Consultancy Services Limited 1 TCS Confidential
    • Social Influencers Physical to Digital Footprint Realize Rapidly Extend Portfolio Reach Everyone Sense Demand Business Objectives as the Enterprise Evolves Yesterday Today & Tomorrow Traditional Enterprise Digital Enterprise 2 TCS Confidential
    • Social media Four generations coexisting Multi-channel experiences Global reach Evolving technology Customer centricity Next gen genomics, autonomous vehicles, internet of things & intelligent cities Market drivers forcing evolution Yesterday Today & Tomorrow Traditional Insurer Digital Insurer 3 TCS Confidential
    • Top executives Decision Support Systems of Engagement External Stakeholders Consumer technology Mobile face SOR Integration Middle of the Organization Context Public Cloud Systems of Record Transactional workers 4 TCS Confidential
    • Characteristics of the Digital Enterprise New Business Models Omni-Channel Experience Customer Centric Innovative Products & Services Insight Driven Next Gen Efficiency Simplified Processes Improved Effectiveness Digitization of Workplaces Growth Improved Compliance New Business Outcomes 5 TCS Confidential
    • Mobility & Pervasive Computing Channels Cloud AI & Robotics Business Processes Five Digital Forces Big Data Analytics Business Models Products & Services Customer Segments Social Media Workplaces 6 TCS Confidential
    • Myth Myth Buster Direct to consumers only • Omni-channel • Flexibility for customer to use preferred channel • Ability to switch between channels without losing context Customer segment of one • It will never be for “1” • Better customer insight for finer segmentation • Contextualized offers & next best action recommendation • Use both structured & un-structured data • Use externally available data wherever it makes sense • Use data from social to complement internal CRM data “It’s all about big data” 7 TCS Confidential
    • Unify: Ability to provide a consistent customer experience across brands, products, and channels • Omni channel customer experience • Matching & mapping of enterprise customer & social persona into SocialCRM Simplify: Ability to achieve operational excellence in both business and IT • Process simplification • Application portfolio simplification E R Engage: Ability to create and sustain customer engagement • • • • • • Improved stickiness Advocacy Collaboration Rewards Value added productivity tools Gamification Respond: Ability to sense and react to customers timely • Anytime anywhere • Real-time systems integration • Insight driven next best action recommendations Engage S U Respond Simplify Unify 8 TCS Confidential
    • Holistic Digital Strategy Integrated insurance digital experience platform vision Business prioritization Single executive sponsor / owner Small projects with continuous business value delivery • • • • Web / portal redesign & consolidation Web content migration & management Insurance forms modernization Multi-channel analytics & Voice of customer • • • • Social data leverage & big data analytics Backend service & data integration Incremental legacy modernization Infrastructure & availability optimization 9 TCS Confidential
    • Invention R&D, CoEs Internal Social Network External CoInnovation Network 1,000s of Ideas Innovation Derivative Innovations Platform Innovations Disruptive Innovations 10 TCS Confidential
    • Optimize Sustain Digitize Research Areas and Themes Analyze De-Risk 11 TCS Confidential
    • iAgent Virtual Assistant Insurance Quickpass Telematics CubuZZ Social CRM Quotation & Illustration Fraud Analytics & Data Mining Executive Dashboard GIS Integration Real Time Integrated Platform for Services & Analytics Knowledge Mgmt & Collaboration Platform 12 TCS Confidential
    • 1.45 Billion US$ Revenues* 21,700+ 2,500+ Employees India’s Most Valued Company by Market Capitalization* Domain consultants Leader in Enterprise Mobility Services - Forrester Research 110+ 28 Clients Countries Worlds Most Innovative IT Services Company** Click here to download Digital Insurance White Paper TCS Confidential • FY13 Revenues ** Source : 2013 Forbes’ List of Worlds Most Innovative Companies 13
    • Thank You