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Zurich Insurance at Sitecore Symposium 2018


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Zurich Insurance's way of enhancing the customer experience in the digital world presented at the Sitecore Symposium 2018.

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Zurich Insurance at Sitecore Symposium 2018

  1. 1. INTERNAL USE ONLY Customer Experience, Digital Transformation and Innovation October 9th, 2018 Sitecore Symposium 2018, Orlando, FL Zurich Insurance Group Powered by
  2. 2. ©ZurichInsurance Agenda for today 2 Introduction Insurance Industry Customer Experience Technology Landscape Sitecore
  3. 3. ©ZurichInsurance 3 Zurich Insurance Group is one of the world’s largest financial services companies with a presence in over 200 countries Revenues: $70 billion+ We are the largest financial services company in Switzerland 54,000 employees worldwide We insure individuals, SMEs and large corporations Based in Zurich, Switzerland Products and services sold in 200+ countries and territories Some of our global brands We are a leading multi-line global insurer. In short, we insure anything and everything.
  4. 4. ©ZurichInsurance We are we? 4 Deepak Mathews Senior Manager, Digital Experience Group Strategy & Innovation Borja Prado Global Sitecore Architect Enterprise Transformation Not just some (boring) insurance guys, we actively trying to push the boundaries of digital experience and technology – as you will see  Don’t let those suits fool you!
  5. 5. ©ZurichInsurance Our Industry is going through major changes 5 Introduction Insurance Industry Customer Experience Technology Landscape Sitecore
  6. 6. ©ZurichInsurance The insurance industry business model has barely changed since the days of the horse drawn carriage US$ 4 trillion global market There are three major categories Property & Casualty Life Insurance Health Insurance
  7. 7. ©ZurichInsurance Some of our IT systems still look like this – not a joke
  8. 8. ©ZurichInsurance 1965 1970 1980 1990 2000 2010 20201975 1985 1995 2005 2015 VCR Cable DBS Satellite Broadband HDTV VOD Smartphone TV Skinny Bundles DVR HD DVD Blu-Ray Satellite Radio Time-shifted Viewing 7th Gen Game Console Smart TV Tablet Streaming Radio 8th Gen Game Console The pace of technological change has been momentous and this is altering the core of the insurance business BlockchainSelf-driving carsDronesShared economyAIChatbots Smart homes WHATS NEXT?
  9. 9. ©ZurichInsurance Insurance start-ups are disrupting the industry value chain… MARKETING & SALES CUSTOMER RETENTIONCLAIMS MANAGEMENTCUSTOMER SERVICINGUNDERWRITING & RISK RATING …with innovations and new technology
  10. 10. ©ZurichInsurance While competition between the incumbents is also heating up and we may get backed into the corner LOCAL CHAMPIONS BIG MULTINATIONALS OUTLIEAR HYBRIDS Chinese companies are looking to expand beyond the mainland Big incumbent insurance carriers are all investing heavily in technology Local players are targeting the market share of big traditional companies
  11. 11. ©ZurichInsurance EMPOWERMENTHYPER-CONVENIENCE TRANSPARENCY Customer expectations for insurance companies are getting shaped by experiences in other industries
  12. 12. ©ZurichInsurance They want instant gratification and everything on-demand
  13. 13. ©ZurichInsurance 13 The customer journey was a linear path with marketing simply making ads and buying media – this is not the case anymore! RENEWALPURCHASE SERVICE CLAIMSCONSIDERATIONAWARENESS PAST PRESENT
  14. 14. ©ZurichInsurance There seems to be a perfect storm brewing for the insurance industry and we are not planning to get caught in the middle! INTENSE REGULATION GEOPOLITICAL UNCERTAINTY, LOW GROWTH AND YIELDS CUSTOMER REVOLUTION NEW AND GROWING RISK POOLS EVOLVING DISTRIBUTION INNOVATION AND TECHNOLOGY INSURANCE INDUSTRY
  15. 15. ©ZurichInsurance 15 We are moving from an operational efficiency to a “customer focused” transformationReturns Time Current strategy “Make the firm lean” (Operational efficiency) New Strategy “Build the firm” (Digital transformation) New S curve Zurich is well on track to achieve its financial targets in 2019 Operational efficiency has brought Zurich a lot of short-term benefits, but now major focus on customer experience is needed in order to stay competitive in the long run
  16. 16. ©ZurichInsurance Customer Experience is now front and center for Zurich 16 Introduction Insurance Industry Customer Experience Technology Landscape Sitecore
  17. 17. ©ZurichInsurance 17 In fact, our new strategy is to FOCUS ON THE CUSTOMER SIMPLIFY INNOVATE More agile & responsive organization Better products, services & customer care
  18. 18. ©ZurichInsurance RENEWALPURCHASE SERVICE CLAIMSCONSIDERATIONAWARENESS Our vision is to create a seamless customer experience across all touch points of the insurance journey Product page Newsletter Campaign page Knowledge hub Fast quote Agent finder Agent page Call agent Email agent Agent visit View policy Compare products Search Ad Quote & buy Robo advice App download Premium payment Add coverage Change address File claim Check claim status Portal login Push notification Renewal Email Video assessment Claims payment Agent call Live chat 18
  19. 19. ©ZurichInsurance Understanding customer expectations starts from analyzing their end- to-end journey and going into the details 19
  20. 20. ©ZurichInsurance Personas 20 WorkshopsToolKit Customer Research Cross-functional Creation Design Our methodology enables local teams to quickly understand customers and their pain points Concept cards InsightsBlueprints
  21. 21. ©ZurichInsurance 21 Global VisionDesign Drivers Insurance Lifecycle RENEWALPURCHASE SERVICE CLAIMSCONSIDERATIONAWARENESS Connected Ecosystem Leading concepts SERVICES ECOSYSTEM DIGITAL TOOLS CONTEXTUAL COVERAGE CUSTOMER LISTENING PROACTIVE BEST IN CLASS HUMAN TRUSTWORTHY The global customer experience framework allows us to this information to create new and enhanced experiences
  22. 22. ©ZurichInsurance The Net Promoter Score (NPS) system is our foundation to measure customer experience 22 How likely would you be to recommend Zurich to family, friends or colleagues? The NPS question is very simple and quantifiable Zurich NPS survey your opinion is important! … and why? 0 1 2 3 4 5 6 7 8 9 10
  23. 23. ©ZurichInsurance We use the NPS results to segment customers, understand their frustrations and then improve the overall experience 23 DETRACTORS PASSIVES PROM OTERS Extremely unlikely Extremely likely Net Promoter Score = % Promoters - %Detractors 0 1 2 3 4 5 6 7 8 109 Likelihood to recommend NPS segments customers in 3 groups and allows to understand possible triggers for churn Closing the Loop allows to reduce churn and constantly improve our customer experience More promoters create more sustainable financial value, as they . . . Stay longer (higher retention) Buy more Are less price sensitive Are less likely to shop online Refer others
  24. 24. ©ZurichInsurance We need to enable customer experience with technology 24 Introduction Insurance Industry Customer Experience Technology Landscape Sitecore
  25. 25. ©ZurichInsurance Naturally, one of the biggest challenges is to bridge the gap between Customer Experience and Technology 25 Group Strategy Group Operations Technology should always follow customer experience (not vice versa!) Customer Experience Framework developed by Customer & Digital Office with extensive input from local business teams Zurich Technology Stack developed by Enterprise transformation maps existing digital capabilities and defines target IT architecture
  26. 26. ©ZurichInsurance E-Commerce in insurance is different because information has to be captured first and prices dynamically generated afterwards 26 One E-Commerce system (Shopping cart) System 1 System 2 System 3 System 4 Shopping cart Dynamic forms
  27. 27. ©ZurichInsurance 27 We have to swiftly access information stored in systems built decades ago, long before the dawn of APIs and cloud computing Life insurance polices expire after 30 years, it’s impossible to upgrade every 3 years
  28. 28. ©ZurichInsurance 28 There are tens of thousands technologies available and new ones are added every day
  29. 29. ©ZurichInsurance We have developed a modern technology stack in order to accelerate the digital transformation across the company 29 Identity & Access Mgmt 21 Actors Individual / Retail Customer Corporate / Commercial Customer Broker Agent Sales / Sales Ops CSR Management Team Underwriter Fulfillment Partners Claims Handler Back office Administrator 1 Core Systems17 Enterprise Service Bus / ETL / APIs / Microservices12 Master Data Management Centralized Data Repository (Data Lake) Enterprise Analytics13 14 15 Optional Workflow Management & Robotics 16 Enterprise Service Bus / ETL / APIs / MicroServices12 Mobile4 Customer Relationship Management Web- Analytics Marketing AutomationWeb Experience Management E-Commerce Self-Service Portal Zurich Presentation Framework Social3 10 6 7 8 9 5 11 Zurich Digital Target State Architecture Contact Channels Social SMS Phone Video Chat Co-Browsing / Emulation Web Chat Instant Messaging, e.g. Whatsapp Chat Bot Telemetic Device Health / Fit Tracking Device Mobile Apps Health / Fit. Tracking Device WebsiteWeb Apps API 2 E-Mail CustomerCommunication Management DigitalMedia Intake&Routing APIManagement 18 19 20 Digital Media Archive 22
  30. 30. ©ZurichInsurance The new architecture is both decoupled and componentized in order to provide maximum flexibility and fast time-to-market 30 Dynamic Components CMS Restful APIs RESTful Service API Gateway Enterprise Service Bus / ETL / APIs / MicroServices CRM Data Lake SORs Presentation Framework Systems of Record Systems of Engagement • Microservices Architecture • CRM and CMS systems can work independently via APIs (similar to headless) • Dynamic JavaScript components enabled (React, Angular, Viu, etc)
  31. 31. ©ZurichInsurance RENEWALSERVICE CLAIMSCONSIDERATIONAWARENESS ExistingPartnerships Tools&Technologies AI based tool that generates insurance proposals based on image recognition Offers variety of digital solutions including roboadvise, quote & buy and portals Mobility and telematics solutions that facilitate better value propositions and new services Fully digital end-to-end insurance platform CMS solution that offers a highly personalized web experience All-in-one solution for email campaigns and marketing automation E-commerce platform for SMEs and individuals Tailored digital ads on the Google’s vast network Live chat integration with web and mobile platforms Build highly localized portals, web apps and loyalty programs Solution for product configuration, calculators and e-commerce Technology solutions are mapped to the journey, so they can be quickly leveraged to address key customer pain points Zurich strategic asset for policy management, portal and claims On-demand coverage on mobile devices PURCHASE Video calling for claims assessments Personalized videos for renewal emails and SMS
  32. 32. ©ZurichInsurance To support our new customer strategy, Zurich’s front-end technologies are designed to be on the bleeding edge 32 Front-end Back-end Presentation layer Content layer Fully Independent JavaScript frameworks (SPAs, PWAS, etc) Crowding sourcing platform headless enables full flexibility Front-end Software Development Kit (Zurich SDK) APIs
  33. 33. ©ZurichInsurance We have fully embraced the power of cloud hosting, especially platform as a Service model (PaaS) for websites and apps 33 DXC Managed Dynamic Cloud Azure / AWS IaaS Azure / AWS PaaS Systems of engagement Systems of Record e.g. • IBA • Acturis • InsuranceNow • Salesforce • Dynamics • …… e.g. • Sitecore CMS • Mobile apps • ….. PAAS Platform as service (PaaS) is like using Uber for IT Infrastructure Cloud has greatly reduced costs and time to market for Zurich
  34. 34. ©ZurichInsurance To fulfil our customer experience vision, we need a full digital experience platform (DXP) not just a simple CMS 34 Customer Care Other services Contextual marketing Third party integrations Transactional experiences Self service customer portal Digital asset management Claims management Broker and agent portal Contextual delivery across all touch points Quotation tools Analytics and insights
  35. 35. ©ZurichInsurance Therefore we use Sitecore at Zurich Insurance 35 Introduction Insurance Industry Customer Experience Technology Landscape Sitecore
  36. 36. ©ZurichInsurance Sitecore is our strategic asset for digital experience and we put it at the center of our technology stack 36 Calculators & E-commerce Self-service customer portals Policy management systems Web analytics & tag management Native Integration Live chat/Chat bots Dynamics CRM Connect (Native) Native CRM & marketing automationSearch Engine Optimization Social Listening, Publishing & Engagement Native Integration
  37. 37. ©ZurichInsurance 37 Sitecore is used at Zurich on global scale in almost every one of our markets Sitecore Shared Platform Sitecore Dedicated Instances Non-Sitecore Platforms
  38. 38. ©ZurichInsurance Countries can choose from five different models for Sitecore Customization possible HighLow DE JPUE UK IT AT MX BR AR MY HK SG Shared Instance (Multi-tenant) Basic requirements (e.g. product page) Individual Instances (Single tenant) Advanced capabilities (e.g. agent portal) Cost per market Designed for Time-to-market Coordination required BetterGood Coordination not required HigherLower Limited economies of scaleEconomies of scale Shared platform Individual platform 38 USPT Small Local platformMedium Large Extra Large Model GRUKBRMY Part of Zurich Web Platform (ZWP) – global offering Individual Instances 1 2 3 4 5
  39. 39. ©ZurichInsurance 39 Using a wide range of implementation partners worldwide Specialist Strategic In-house We are currently building our internal Sitecore capabilities
  40. 40. ©ZurichInsurance We have an internal Sitecore practice to oversee our global operations and ensure the technology is used to full potential 40 Sitecore Asset Management (SITA) Zurich Digital Community Technology and Architecture focused Customer Experience focused Vendor A Country A Vendor B Country B Vendor C Country C Vendor D Country D Vendor E … Vendor F Global Platform (ZWP) … Monthly Webinars Tutorials & training Cloud hosting Reference Architecture Customer Journeys Sitecore Marketplace Front-end SDK User Experience Best practice sharing Sitecore Licences Brand GuidelinesDevOps Stack
  41. 41. ©ZurichInsurance 41 Digital Reference Architecture Helix Guidelines Experience Accelerator - SXA Zurich’s Sitecore strategy in a nutshell Feature StoreSitecore 9 Microsoft Azure PaaS
  42. 42. ©ZurichInsurance Switzerland has cleverly connected Sitecore and E-commerce 42 • Responsive design • Full flexibility for developers • Leverages full Sitecore functionalities Skye JSON API
  43. 43. ©ZurichInsurance The United Kingdom has integrated different technologies for transactional experiences with their Sitecore front-end 43 1 Sitecore Static Server (or CDN) API server 3 4 8 5 6 2 9 7 10
  44. 44. ©ZurichInsurance Austria is using Sitecore SXA with react components for premium calculators and E-commerce 44 Modern UI design Built for touch devices Use native features
  45. 45. ©ZurichInsurance Ireland has made a blog using SXA for the Zurich Marketplace
  46. 46. ©ZurichInsurance Klinc - On-demand coverage 46 The website is built using Sitecore 9, SXA components and hosted in MS Azure PaaS Klinc, launched a few months ago, is sub-brand of Zurich that offers on-demand insurance coverage
  47. 47. ©ZurichInsurance Our global solution, Zurich Web Platform (ZWP), hosts 30+ corporate websites and offers great flexibility of markets 47 User Stories UX/UI Wireframes Prototype Front-end Back-end Deployment IT Support Requirements Global Team Local Team Local or Global Team Takes care of the complex IT part Can focus on creating the best the user experiences Full flexibility to use local supplier or a global one
  48. 48. ©ZurichInsurance Germany’s agent finder module and E-commerce tools both make clever use of headless CMS in Sitecore 48 Agent finder module (React) Quote and buy tool (Angular) Agent data (Name, location, contact, photo, etc) Data is consumed via Sitecore APIs
  49. 49. ©ZurichInsurance We are working towards offering components from Digital Insurance Group, a start-up, in the Zurich Sitecore marketplace 49 SXA React Components E-Commerce Premium calculator Customer portal Live chat/ Chat bots
  50. 50. ©ZurichInsurance Questions 50