The document discusses how to build a digital insurance company. It outlines that insurers are evolving from traditional to digital enterprises to adapt to changing market drivers and customer expectations. This requires developing new digital business models, providing an omni-channel customer experience, becoming more customer-centric, innovating products/services, being insight-driven, and improving efficiency. The document provides strategies for unifying the customer experience, simplifying operations, engaging customers, and responding to customers in a timely manner. It also discusses developing a holistic digital strategy through small, continuous projects that deliver business value.
2. 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
4. 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
5. 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
6. 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
7. 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
8. 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
9. 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
13. 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