Allianz Turkey acquired YKS insurance to become a market leader in Turkey. However, YKS's old customer journey was inefficient, with customers facing long wait times. The recommended strategies were to reduce response times using a mobile app, tie up with partners having multiple customer touchpoints, and streamline activities using blockchain. The new customer journey focused on getting customers assistance within an hour ("Golden Hour") of an accident through GPS and information sharing with hospitals.

1. Allianz Turkey: Focus on the Customer
By MOFS Defaulters
Harshit Santangi –A051
Akriti Mittal –A035
Nishant Saraf –A052
Deepthi Sudarsan – A061
Omkar Yadwadkar – A066
Sagar Bhatt –F010

2. Introduction Industry Analysis
Old Customer
Journey
Root Cause
Analysis
Recommended
Strategies
New Customer
Journey
Business Case
Case introduction
Allianz turkey acquired YKS
Efforts to integrate YKS in Allianz turkey culture to leverage on opportunities therefore
The new culture aimed at being more customer centric in order to tackle to Turkish distrust with insurance sector
Price based competition in the insurance market
Turkey : Demographics
50% population under 30
Aging population 13-19%
Faced high inflation and political instability but now on high GDP and population growth path
High CAD
Savings rate too low for financial investments

3. Political
Factors
P E
S T
Technical
Factors
Social Factors
Economic
FactorsNew Insurance law introduced in 2008
Govt push to support insurance sector
and educate the consumers
Three areas:
• Motor Insurance
• Earthquake Insurance
• Private Pension System
History of Hyperinflation: People tended
to be interested in short term
Investments and low savings rate
GDP on a growth trajectory
Increasing income levels
Fatalistic culture
Low awareness
Positive demographic dividend: High
Percentage of working age population
Regulatory Push
Cluttered Market
Low profitability in High growth
segments
Issues Plaguing the Industry:
 Low penetration as compared to OECD countries
 All major indicators were weak
 Suffered from a bad reputation
Allianz Turkey
 Entered through acquiring Sark Insurance
 Partnered with Koc and formed Koc Allianz Group
 Later purchased Koc’s share and formed Allianz Turkey
 Later acquired YKS and made it a market leader
Competitive Environment
 A no of foreign players entered through acquisition
 Fierce competition led to price wars which eroded
profitability
 High growth segment like motor insurance were not
profitable
 The sector’s ROE stood at below 3% v/s a global avg of 10
 Key to success: Effective distribution network, balanced
product mix and specialization in certain segments
 Historically distribution happened through agency
networks but then bancassurance deals became popular
 Bancassurance with : Yapi Kredi Bank and HSBC bank.
Introduction Industry Analysis
Old Customer
Journey
Root Cause Analysis
Recommended
Strategies
New Customer
Journey

4. Accident
Contacting
Customer Care
Customer Journey on the day of Accident
Minute 0
Arrival of Two
Truck
Travel to
Service Center
Onboarding in
Service Center
Customer retunes
to his day
Minute 30 Minute 120
45 – 90 minutes 30 -45 minutes
Minute 165 Minute 185
20 minutes
Minute 275
30– 90 minutes
4.5 hours later
Introduction Industry Analysis
Old Customer
Journey
Root Cause Analysis
Recommended
Strategies
New Customer
Journey

5. Customer Journey Continues…
Day 0 Day 2
2 days
Day 27 Day 29
25 days
Accident
Arrangement for
rental car
2 days
Delivery of
Repaired Car
Payment completion
by Allianz
Introduction Industry Analysis
Old Customer
Journey
Root Cause Analysis
Recommended
Strategies
New Customer
Journey

6. Waiting for tow
trucks
Waiting for the
repair
Waiting for car
rental
Customer
Satisfaction
Waiting for the
payment
• Third party
• Low cost
negotiations
• Call centers
• Less number of
vehicles
• Low employee
head count
• Time taken by
agent to do a
survey
• Each further
step required a
approval from
insurance
company
• Claim finalized
after car work
is completed
• Again a survey
would be
conducted by
agent for
approval
• It has to be
arranged by
the driver only
• Arrange for
transportation
home
Introduction Industry Analysis
Old Customer
Journey
Root Cause Analysis
Recommended
Strategies
New Customer
Journey

7. Introduction Industry Analysis
Old Customer
Journey
Root Cause Analysis
Recommended
Strategies
New Customer
Journey
• Reducing the response
time by using a mobile
application
• Tie up with third parties
which have deeper
penetration and multiple
customer touch points
• Streamlining the activities
and simultaneous
updating at several points
using block chain
• Information transfer to
nearest hospital using GPS
location for customers in
distress
• Use of analytics and
artificial intelligence in
the long run in order to
reduce claim resolution
time
• Information transfer to
nearest hospital using GPS
location for customers in
distress

8. Introduction Industry Analysis
Old Customer
Journey
Root Cause Analysis
Recommended
Strategies
New Customer
Journey
Minute 5 Minute 30
20-25 minutes 30 -45 minutes
Minute 60
0-5 minutes
8-26th day
7-25 days
c
v
c
v
c
v
c
v
Golden Hour