How to Prosper in the New World of Customer Engagement


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Join the discussion around the challenges insurers face as they seek to reduce costs, better serve their policy-holders and modernize their core systems. The discussion also highlights how carriers can deepen engagement levels as today’s technology-driven consumers are looking for real-time and digital access to their policies.


- How to transform current “systems of record” into “systems of customer engagement”
- Build stronger, richer relationships with your customers
- Promote long-term loyalty and increase customer retention
- Overcome stumbling blocks of legacy migration
- Utilize predictive analytics to drive deeper customer understanding and interaction

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How to Prosper in the New World of Customer Engagement

  1. 1. “How to Prosper in the New World of Customer Engagement” Insurance Trends
  2. 2.  Today’s customers are more…  Connected  Social  Mobile  Aware  Informed  Empowered The Rise of the Connected Customer
  3. 3. Insurer’s top strategic initiatives for 2014 Source: SMA Research, Insurance Ecosystem 2014, n=100 Core system replacement Enhancing the customer experience Enhancing the agent/broker/advisor experience Business Intelligence and analytics Distribution/channel expansion 1 2 3 4 5
  4. 4. Increased focus on customer engagement
  5. 5. Important reasons for legacy migration
  6. 6. Documents are the lifeblood of the business Underwriting /NewBus. Policy Servicing Distribution Management /Sales Billing & Collections Claims/ Payout Marketing &Product Development Promotions Newsletters Annual reports Response cards Surveys ID cards Welcome kits Applications Med reports Info requests Prospect letters Outbound calls Quick quotes Illustrations Commission stmts Cust. service inquiries Premium payments Policy dec sets Certificates Renewal notices Terminations Loss runs Cust. service letters Beneficiary change Statements Bills Checks Letters Estimates Claim checks Sat. surveys Surrender payouts Annuity payouts Denial of coverage FNOL Appraiser reports Personal Injury Police reports Legal documents Claim inquiries Source: Strategy Meets Action 2014
  7. 7. Pitney Bowes helps insurers capitalize on new opportunities Old constraints New opportunities Print-centric systems and processes Move to a digital document environment Manual workarounds Automate multichannel delivery Organizational silos Gain consistency across all channels and touch points Disjointed customer information Access a 360°customer view Inconsistent, impersonal communication Engage customers with communications that are relevant, accurate and complete
  8. 8. “How to Prosper in the New World of Customer Engagement” Current Challenges
  9. 9. 9 CCM and the Insurance Industry • ‘90s – Small Boutique Software Vendors • ‘00s – Mergers & Acquisitions • Newer Vendors focused on Interactive Applications • Policies traditionally stayed with legacy products
  10. 10. 10 CCM Insurance Applications • Policy Production • Correspondence • Claims • Billing • Quotes • Applications
  11. 11. 11 • Little or No Support • High Maintenance Costs • Lots of limitations • Legacy hardware and OS platforms • High migration/conversion costs • Lots of RISK Legacy Software
  12. 12. 12 Drivers facilitating Change • Retiring legacy software or hardware • Purchase of a new Policy Admin System • Business Pressuring Time to Market • New Insurance Products • Lack of features in legacy products • High maintenance & support costs
  13. 13. 13 What Companies are looking for… • Cost effective migration plan for existing applications • Low risk solution • One solution for all CCM applications • Solution that can be integrated well with other products • Improve Customer Communication • Drive revenue
  14. 14. Polling Question #3 • What applications are you looking to modernize? – Policies – Correspondence – Billing – Quoting – Other
  15. 15. Fast Path To Customer Engagement “How to Prosper in the New World of Customer Engagement”
  16. 16. Many insurers have abandoned earlier migration attempts Until now, migration has been: Time- Consuming DifficultRisky Costly $
  17. 17. 2 Conversion & Migration: Automated to migrate as much critical information as possible 4 Deployment: EngageOne Communication Suite: comprehensive, omnichannel, customer-centric 1 Extraction: Programmatic and precise, extracts content, forms, fonts and resources 3 Importation: Designed to automatically ingests extracted files directly into EngageOne Fast Path: Accelerating migration for Oracle Documaker
  18. 18. 18 Data Integration Cleanse Append Location Intelligence Segmentation Professional Services Communication Intelligence Content Auto-Templating Audit and Live Test Approval Routing Version Control Asset Sharing Composition Channel + Delivery Print/Mail Email Web/EBPP Call Center Social SMS Archive Customer Experience Channel Message Response Interaction Personalization Reports + Analysis Configurable Exportable Dashboard Summary Baseline Measurability Enhanced Customer Data TOUCHPOINT INTEGRATION TOUCHPOINT REDEPLOYED Enhanced Customer Data Messaging Document Creation Document Composition Communication Mgmt. Message Alignment Inbount/Outbound Customer Engagement – An End-to-End Approach
  19. 19. Life & Annuities P&C Healthcare Our Customers …one of the international leaders in the document automation and customer communication management space. The company has managed to get a presence in terms of insurance clients in all continents. “ ” …enables aspects of document automation within the insurance enterprise from data capture through to physical and electronic distribution…an end-to-end solution. “ ”
  20. 20. “How to Prosper in the New World of Customer Engagement” Q&A Neal Keene, Pitney Bowes Software Richard Lee, DocuConsulting Fast Path To Engagement Legacy Migration Program • Deep Documaker & Documerge expertise • Automated migration Processes • Leverage years of business knowledge and content • Significant reduction in risk, expense and time • Flexible, agile platform to pursue an omni-channel communication strategy Inquire at: