Capgemini case competition

1. Surajkumar Lal Abhishek Anand
Bikram Debnath
TEAM - K Warrior
IIM KOZHIKODE

2. What is the Impact of digitization on insurance value chain ?
- Product design(on the basis of data from IoT devices)
- Sales and distribution (fast quotation, simplified process
- Underwriting and pricing (Big data to build customer profile and behaviors)
- Post service assistance (AI based assistance)
- Claims management (Data help in preventing fraud mechanism)
How will IoT involvement in reshape insurance ?
- Anticipating risks (generating data by measuring customer
behavior)
- Better size risks (pricing on the basis of personalized needs,
health by – smart watch, fitness band, sensor)
- Prevention from accidents
Proposed healthcare insurance
distribution model
Cloud = unlimited processing power delivered to
everyone on any device
Analytics and consumption data can fuel new
customer experiences
Ubiquitous and ‘always-on’ social media are
changing the customer’s behaviors
Smart phones bring Internet and apps on-the-go to the
mass market
Critical success factor of a digital channel
Marketing
Traction of
Users
Platform Leads
Direct
Closing
SaleUser
Satisfied
WOM
• User Pays a
Premium to use
Advisory services
and Access
reports
• The charges are
one time and
subscription
charge
Leads if
Converted
bear a cost of
Lead gen to
the
offices/agencie
s assigned for
the task of
conversion
Revenue
= Sale-
Cost of
Subscrip-
-tion
• Cost of retention =
Offer discounts for
consumer delight
• Referral program
• Cost of
Marketing
across various
channels to
gain user
traction
• Cost of
Referral
programs
Cash Out
Cash in
Channel cost and revenue realized
Emerging model
•Omnichannel customer
experience
•Full digital direct
•Beyond insurance
partnership
•Small ticket and affinity
partnership
•Connected insurance
•Hyper personalization
• AR/VR bots
systems
• Vernacular
language
implementation
• VR Experience
concept Studios
Phase 3
• Getting community
of Experts on
platform
• Implementing
Certification
programs
• Social Media
integration
• Social listening
• Data analytics
Phase 2
• Implementing
the platform
• Game
Simulation
Development
• Health
Monitoring
Offering
• Basic Advisory
Process
• Blockchain
based Model
• User
Traction/Add
downloads
Phase 1
Implementation plan
HospitalHospital

3. THANK YOU