Gamification for insurance companies employs traditional game elements – including badges, leaderboards, points, and quests – to improve organizational efficiency and increase customer engagement. Gamification can function as a catalyst for meeting the requirements of a real-time digital enterprise – from underwriting, account management, training, and billing, to marketing, sales, and customer self-service.
Tutorial on the McKinsey/Harvard "Customer Decision Journey" by John SingJohn Sing
Today, our customers engage whether to do business with us in fundamentally different ways, relying heavily on digital interactions, evaluating a constantly shifting array of options, and affecting our future business by their post-purchase continual engagement through social media, recommendations, and reviews. A new customer buying model is the new normal. First described in 2009, continually refined since, this is my tutorial on this proven McKinsey / Harvard paradigm. Essential info. I also have an IT-specific version of this presentation on Slideshare.net ( "Will your 2015 IT Roadmap Drive Business Success?" ) which supplements this presentation by describing the deep implications to the IT technology organization, and best practices for IT and the business to address these implications successfully. The URL for that presentation (you may cut/paste) is: http://www.slideshare.net/johnsing1/2015-it-roadmapdrivingbusinesssuccessv31
This document compares e-commerce stores and online marketplaces. It finds that while e-commerce stores allow more control over branding and the customer experience, they require higher investment and maintenance. Meanwhile, online marketplaces have lower costs but offer less customization. The best approach for most brands is to use both, with marketplaces for quick reach and e-commerce stores for relationship building. Integrating e-commerce and ERP systems can help businesses take advantage of the benefits of both.
This slides pack highlights the key selling points of Magic Mirror to shopping malls and how it could bring the experience of shoppers to the next level and expanding network of tenants at the same time while generating revenue for your mall.
Digital disruption refers to using digital technologies to disrupt existing businesses and industries. It requires companies to rethink their entire business model, not just technology, and adopt the mindset of a digital disruptor. This involves thinking differently and focusing on giving customers what they really want. Companies must exploit digital platforms, have an ongoing relationship with customers, and view failure as feedback. To behave as a digital disruptor, companies should pursue adjacent opportunities to provide new customer benefits, give customers a total product experience, and let customer needs guide their innovation. They must also disrupt themselves by establishing digital disruption as a priority, identifying barriers between departments, and designing teams to find disruptive opportunities.
The Top Trends in Digital Marketing for 2023 Searchonic
Video marketing, voice search optimization, and artificial intelligence will be top trends in digital marketing in 2023. Marketers will need to focus on creating video, voice, and AI-optimized content while addressing increasing concerns around privacy and data security and providing personalized customer experiences.
The document outlines the agenda for a presentation on omnichannel customer experience (CX) and digital transformation. The agenda includes discussions on the meaning and impact of omnichannel CX and digital transformation based on a 2017 CX benchmark report. It will also cover developing a 2020 vision for CX, assessing digital maturity, and defining a contact centre strategy for the omnichannel CX ecosystem. Interactive sessions are planned to help attendees attain their 2020 omnichannel CX vision.
Tutorial on the McKinsey/Harvard "Customer Decision Journey" by John SingJohn Sing
Today, our customers engage whether to do business with us in fundamentally different ways, relying heavily on digital interactions, evaluating a constantly shifting array of options, and affecting our future business by their post-purchase continual engagement through social media, recommendations, and reviews. A new customer buying model is the new normal. First described in 2009, continually refined since, this is my tutorial on this proven McKinsey / Harvard paradigm. Essential info. I also have an IT-specific version of this presentation on Slideshare.net ( "Will your 2015 IT Roadmap Drive Business Success?" ) which supplements this presentation by describing the deep implications to the IT technology organization, and best practices for IT and the business to address these implications successfully. The URL for that presentation (you may cut/paste) is: http://www.slideshare.net/johnsing1/2015-it-roadmapdrivingbusinesssuccessv31
This document compares e-commerce stores and online marketplaces. It finds that while e-commerce stores allow more control over branding and the customer experience, they require higher investment and maintenance. Meanwhile, online marketplaces have lower costs but offer less customization. The best approach for most brands is to use both, with marketplaces for quick reach and e-commerce stores for relationship building. Integrating e-commerce and ERP systems can help businesses take advantage of the benefits of both.
This slides pack highlights the key selling points of Magic Mirror to shopping malls and how it could bring the experience of shoppers to the next level and expanding network of tenants at the same time while generating revenue for your mall.
Digital disruption refers to using digital technologies to disrupt existing businesses and industries. It requires companies to rethink their entire business model, not just technology, and adopt the mindset of a digital disruptor. This involves thinking differently and focusing on giving customers what they really want. Companies must exploit digital platforms, have an ongoing relationship with customers, and view failure as feedback. To behave as a digital disruptor, companies should pursue adjacent opportunities to provide new customer benefits, give customers a total product experience, and let customer needs guide their innovation. They must also disrupt themselves by establishing digital disruption as a priority, identifying barriers between departments, and designing teams to find disruptive opportunities.
The Top Trends in Digital Marketing for 2023 Searchonic
Video marketing, voice search optimization, and artificial intelligence will be top trends in digital marketing in 2023. Marketers will need to focus on creating video, voice, and AI-optimized content while addressing increasing concerns around privacy and data security and providing personalized customer experiences.
The document outlines the agenda for a presentation on omnichannel customer experience (CX) and digital transformation. The agenda includes discussions on the meaning and impact of omnichannel CX and digital transformation based on a 2017 CX benchmark report. It will also cover developing a 2020 vision for CX, assessing digital maturity, and defining a contact centre strategy for the omnichannel CX ecosystem. Interactive sessions are planned to help attendees attain their 2020 omnichannel CX vision.
The automotive industry stands at an inflection point. Decades of progress across safety, connectivity and performance have led to a drastic change in the vehicles on the road and for sale today. In addition, several colossal technology-driven changes are on the near horizon, which will in turn lead to even more drastic changes for the industry.
As these transformations occur, the automotive industry is leaning on Automotive Technology (“Auto Tech”) businesses for help. Automotive businesses throughout the supply chain are improving themselves by injecting digitization, intelligence and automation into existing processes. Auto Tech companies enable auto businesses to do so by providing software, data & analytics and outsourcing solutions. New businesses are emerging, both to take market share from incumbents through technology-driven processes as well as leveraging emerging technology to create new markets (e.g. Uber & Lyft using ubiquitous wireless broadband connectivity and smartphone adoption to create the ride-hailing industry). Catalyst is looking to partner with exciting businesses at the heart of the automotive industry transformation. Catalyst is also interested in technology businesses serving verticals adjacent to automotive including trucks & trailers, power sports, recreational vehicles and boats.
Design Techniques for Business Model GeneratorHani Tarabichi
This document discusses various techniques for designing business models, including customer insights, ideation, visual thinking, prototyping, storytelling, and scenarios. It describes each technique in 1-2 paragraphs, noting that customer insights should inform value propositions and other elements, ideation involves generating and narrowing ideas, visual thinking makes concepts concrete, prototyping explores possibilities, storytelling engages stakeholders, and scenarios provide context. The overall aim is to create innovative and viable business models.
1) The document outlines various touchpoints and metrics for customers at different stages of the customer lifecycle from pre-sales to support.
2) It identifies frustration sources for customers such as only receiving calls near renewal time and slow ticket responses.
3) Recommendations are provided to address the opportunities including hiring a customer marketing manager, improving the free trial experience, and creating a deployment playbook.
I wrote these guidelines for copywriters at Wunderman Thompson, who were working in email and SMS marketing communications. The document includes channel considerations, a breakdown of email elements, and copywriting guidelines for each component.
RETAIL BRANDING: THE PSYCHOLOGY OF VISUAL MERCHANDISINGDian Hasan
Visual merchandising is defined as the physical display of goods to appeal to customers' senses. The goal is to present merchandise in a stimulating way that encourages sales. The experience a brand provides through its visual merchandising should reflect the company's personality and create memorable experiences for customers. Good design can differentiate a brand from competitors and transform customers from one-time to repeat buyers.
The document provides a messaging matrix for Phillips Digital Pathology. The main message is that the Phillips solution delivers unparalleled image quality and advanced analysis tools to improve patient outcomes while streamlining workflows. The matrix then lists three pillars: Analysis, Performance, and Integration. Each pillar includes a key message, supporting benefits, and supporting attributes. The Analysis pillar focuses on superior image detail for definitive diagnosis. The Performance pillar aims to improve pathology productivity. And the Integration pillar emphasizes seamless integration within existing workflows.
This Module discuss the topic related to Understanding CRM, Need for CRM, CRM Objectives, Goals of CRM, How CRM helps Business, Essentials for CRM strategies, Acquisition Strategies, Referrals Programs, Retention Strategies, Why should you care about existing customers, Welcoming the Customers, Customer Responsiveness for CRM initiative, How to be Responsive to Customer, Customer Recognition, and Personalization and various Cases on Retention Strategies and Personalization.
Livestream shopping: A trend that started in the East and is growing in the W...KaranParikh25
This concept started in China and grew exponentially in a short duration, Chinese manufacturers realized that one-third of their country's internet users were active on Livestream and thus they used this channel to sell products to consumers. These sales were not restricted to just low-value beauty products but also extended to high-end jewelry that became a popular item for Livestream sales. I believe this trend has tremendous growth opportunities in the West with the rise of TikTok, Amazon Live, and Google Stream.
Internships are an essential part of a higher education degreee in digital marketing. It does take time to learn a job whilst studying but this time has been shown again and again that work experience is vital to help students to develop their skills and abilities when it comes to getting a digital marketing job in the future. http://mastersindigitalmarketing.org/
See video here https://www.youtube.com/watch?v=CQNjFEeusRI
E-commerce refers to the buying and selling of goods and services online. Analytics in e-commerce helps businesses optimize their websites, grow their customer base through marketing campaigns, and retain customers through predictive analytics. Predictive analytics can help e-commerce businesses enhance product recommendations, pricing, and supply chain management. A case study shows how Amazon plans to use predictive analytics for anticipatory shipping to ship items before orders are placed. Another case study outlines how Mu-Sigma helped a CPG company improve revenue management through a strategic revenue management platform integrating data from multiple sources. The future of e-commerce is expected to see continued growth in online sales and mobile commerce.
IdeateLabs is amongst the Leading Brand and Digital Communication companies, based out of Mumbai, India. With more than 15 years of experience & working for more than 200 Brands over the period. IdeateLabs has built extensive abilities to manage turnkey Brand Solutions for Businesses.
B2B Digital Marketing presentation at Riga Business SchoolRolands Ozolins
This presentation covers core b2b digital marketing concepts such as strategy, b2b marketing personas, planning customer journey, SEO, marketing automation, lead nurturing, marketing content development and lead scoring. Speaker also introduces concept of sales and marketing engine as end-to-end approach to international b2b marketing as best way to combine multiple marketing approaches into single easy to understand concept.
[Assignment 7.1] Market reshearch - Audit vs panelHung Van
This document summarizes retail audit and consumer panel methods for market research. A retail audit measures business volume by counting product units in stores and combining it with order and stock data. It provides precise, timely sales data by location, price, and promotion. However, it does not explain the causes of sales patterns. A consumer panel determines purchasing by surveying a representative sample of households over time. It offers insights into consumer behavior, media impact, and lifestyle factors, but panels can lack representation and respondents may become biased over time. Both methods are used to monitor brand performance, though retail audits track volume and shares while consumer panels examine buying behaviors.
Omnichannel is one of the most abused buzzwords in retail. But, in a world of digitally connected consumers, developing and implementing a solid omnichannel strategy is critical to the long-term success of a retail business.
During this webinar featuring Sucharita Mulpuru-Kodali, one of Forrester’s most distinguished analysts, we’ll review the most fundamental considerations of an omnichannel strategy, including:
- Setting realistic goals and expectations for your organization
- Building out a step-by-step plan with manageable phases
- Deploying best practices while managing to a budget
- Leveraging core order management functionality to pull the strategy together
You’ll walk away with valuable insight and practical information that will guide your omnichannel goals and investments.
Digital Marketing Plan Template Smart InsightsJasonmiller484
DIGITAL MARKETING. STRATEGY PLANNING TEMPLATE. Your companion to creating or updating your online marketing strategy. Source: http://www.supref.fr/blog/wp-content/uploads/2015/03/digital-marketing-plan-template-smart-insights.pdf
Dynamic Yield machine learning engine acquisition by McDonald's corporation a...ChukwuemekaAnthonyOr
This presentation discusses the acquisition of dynamic yield by McDonald's Corporation and the prospects of implementing this machine learning engine to encourage customer's healthy dietary habits. This presentation is strictly for educational purposes and not intended for use as a business proposal.
Virtual merchandising & visual merchandising in effect with ambush marketingAjai KS
This document discusses various concepts related to virtual merchandising, visual merchandising, retail displays, and ambush marketing. It defines virtual merchandising as an online retail presence and visual merchandising as the physical display of goods. It describes different types of retail fixtures, merchandise presentations, displays, lighting techniques, and props used to showcase products. It also discusses floor plans, signage, and window displays. Finally, it defines ambush marketing as promoting a brand through unofficial sponsorship of an event and provides examples of brands that have utilized ambush marketing strategies.
Intelligent Automation: Exploring Enterprise Opportunities for Systems that D...Cognizant
To compete in an era of globalization and fast-moving business change, organizations need to apply smart technologies, which can reduce costs, increase scalability, improve accuracy, boost speed and make better use of human efforts.
By delving deeply into customer experience, business process design and operating model change, organizations can more effectively move from 'doing' digital to 'being’ digital.
The automotive industry stands at an inflection point. Decades of progress across safety, connectivity and performance have led to a drastic change in the vehicles on the road and for sale today. In addition, several colossal technology-driven changes are on the near horizon, which will in turn lead to even more drastic changes for the industry.
As these transformations occur, the automotive industry is leaning on Automotive Technology (“Auto Tech”) businesses for help. Automotive businesses throughout the supply chain are improving themselves by injecting digitization, intelligence and automation into existing processes. Auto Tech companies enable auto businesses to do so by providing software, data & analytics and outsourcing solutions. New businesses are emerging, both to take market share from incumbents through technology-driven processes as well as leveraging emerging technology to create new markets (e.g. Uber & Lyft using ubiquitous wireless broadband connectivity and smartphone adoption to create the ride-hailing industry). Catalyst is looking to partner with exciting businesses at the heart of the automotive industry transformation. Catalyst is also interested in technology businesses serving verticals adjacent to automotive including trucks & trailers, power sports, recreational vehicles and boats.
Design Techniques for Business Model GeneratorHani Tarabichi
This document discusses various techniques for designing business models, including customer insights, ideation, visual thinking, prototyping, storytelling, and scenarios. It describes each technique in 1-2 paragraphs, noting that customer insights should inform value propositions and other elements, ideation involves generating and narrowing ideas, visual thinking makes concepts concrete, prototyping explores possibilities, storytelling engages stakeholders, and scenarios provide context. The overall aim is to create innovative and viable business models.
1) The document outlines various touchpoints and metrics for customers at different stages of the customer lifecycle from pre-sales to support.
2) It identifies frustration sources for customers such as only receiving calls near renewal time and slow ticket responses.
3) Recommendations are provided to address the opportunities including hiring a customer marketing manager, improving the free trial experience, and creating a deployment playbook.
I wrote these guidelines for copywriters at Wunderman Thompson, who were working in email and SMS marketing communications. The document includes channel considerations, a breakdown of email elements, and copywriting guidelines for each component.
RETAIL BRANDING: THE PSYCHOLOGY OF VISUAL MERCHANDISINGDian Hasan
Visual merchandising is defined as the physical display of goods to appeal to customers' senses. The goal is to present merchandise in a stimulating way that encourages sales. The experience a brand provides through its visual merchandising should reflect the company's personality and create memorable experiences for customers. Good design can differentiate a brand from competitors and transform customers from one-time to repeat buyers.
The document provides a messaging matrix for Phillips Digital Pathology. The main message is that the Phillips solution delivers unparalleled image quality and advanced analysis tools to improve patient outcomes while streamlining workflows. The matrix then lists three pillars: Analysis, Performance, and Integration. Each pillar includes a key message, supporting benefits, and supporting attributes. The Analysis pillar focuses on superior image detail for definitive diagnosis. The Performance pillar aims to improve pathology productivity. And the Integration pillar emphasizes seamless integration within existing workflows.
This Module discuss the topic related to Understanding CRM, Need for CRM, CRM Objectives, Goals of CRM, How CRM helps Business, Essentials for CRM strategies, Acquisition Strategies, Referrals Programs, Retention Strategies, Why should you care about existing customers, Welcoming the Customers, Customer Responsiveness for CRM initiative, How to be Responsive to Customer, Customer Recognition, and Personalization and various Cases on Retention Strategies and Personalization.
Livestream shopping: A trend that started in the East and is growing in the W...KaranParikh25
This concept started in China and grew exponentially in a short duration, Chinese manufacturers realized that one-third of their country's internet users were active on Livestream and thus they used this channel to sell products to consumers. These sales were not restricted to just low-value beauty products but also extended to high-end jewelry that became a popular item for Livestream sales. I believe this trend has tremendous growth opportunities in the West with the rise of TikTok, Amazon Live, and Google Stream.
Internships are an essential part of a higher education degreee in digital marketing. It does take time to learn a job whilst studying but this time has been shown again and again that work experience is vital to help students to develop their skills and abilities when it comes to getting a digital marketing job in the future. http://mastersindigitalmarketing.org/
See video here https://www.youtube.com/watch?v=CQNjFEeusRI
E-commerce refers to the buying and selling of goods and services online. Analytics in e-commerce helps businesses optimize their websites, grow their customer base through marketing campaigns, and retain customers through predictive analytics. Predictive analytics can help e-commerce businesses enhance product recommendations, pricing, and supply chain management. A case study shows how Amazon plans to use predictive analytics for anticipatory shipping to ship items before orders are placed. Another case study outlines how Mu-Sigma helped a CPG company improve revenue management through a strategic revenue management platform integrating data from multiple sources. The future of e-commerce is expected to see continued growth in online sales and mobile commerce.
IdeateLabs is amongst the Leading Brand and Digital Communication companies, based out of Mumbai, India. With more than 15 years of experience & working for more than 200 Brands over the period. IdeateLabs has built extensive abilities to manage turnkey Brand Solutions for Businesses.
B2B Digital Marketing presentation at Riga Business SchoolRolands Ozolins
This presentation covers core b2b digital marketing concepts such as strategy, b2b marketing personas, planning customer journey, SEO, marketing automation, lead nurturing, marketing content development and lead scoring. Speaker also introduces concept of sales and marketing engine as end-to-end approach to international b2b marketing as best way to combine multiple marketing approaches into single easy to understand concept.
[Assignment 7.1] Market reshearch - Audit vs panelHung Van
This document summarizes retail audit and consumer panel methods for market research. A retail audit measures business volume by counting product units in stores and combining it with order and stock data. It provides precise, timely sales data by location, price, and promotion. However, it does not explain the causes of sales patterns. A consumer panel determines purchasing by surveying a representative sample of households over time. It offers insights into consumer behavior, media impact, and lifestyle factors, but panels can lack representation and respondents may become biased over time. Both methods are used to monitor brand performance, though retail audits track volume and shares while consumer panels examine buying behaviors.
Omnichannel is one of the most abused buzzwords in retail. But, in a world of digitally connected consumers, developing and implementing a solid omnichannel strategy is critical to the long-term success of a retail business.
During this webinar featuring Sucharita Mulpuru-Kodali, one of Forrester’s most distinguished analysts, we’ll review the most fundamental considerations of an omnichannel strategy, including:
- Setting realistic goals and expectations for your organization
- Building out a step-by-step plan with manageable phases
- Deploying best practices while managing to a budget
- Leveraging core order management functionality to pull the strategy together
You’ll walk away with valuable insight and practical information that will guide your omnichannel goals and investments.
Digital Marketing Plan Template Smart InsightsJasonmiller484
DIGITAL MARKETING. STRATEGY PLANNING TEMPLATE. Your companion to creating or updating your online marketing strategy. Source: http://www.supref.fr/blog/wp-content/uploads/2015/03/digital-marketing-plan-template-smart-insights.pdf
Dynamic Yield machine learning engine acquisition by McDonald's corporation a...ChukwuemekaAnthonyOr
This presentation discusses the acquisition of dynamic yield by McDonald's Corporation and the prospects of implementing this machine learning engine to encourage customer's healthy dietary habits. This presentation is strictly for educational purposes and not intended for use as a business proposal.
Virtual merchandising & visual merchandising in effect with ambush marketingAjai KS
This document discusses various concepts related to virtual merchandising, visual merchandising, retail displays, and ambush marketing. It defines virtual merchandising as an online retail presence and visual merchandising as the physical display of goods. It describes different types of retail fixtures, merchandise presentations, displays, lighting techniques, and props used to showcase products. It also discusses floor plans, signage, and window displays. Finally, it defines ambush marketing as promoting a brand through unofficial sponsorship of an event and provides examples of brands that have utilized ambush marketing strategies.
Intelligent Automation: Exploring Enterprise Opportunities for Systems that D...Cognizant
To compete in an era of globalization and fast-moving business change, organizations need to apply smart technologies, which can reduce costs, increase scalability, improve accuracy, boost speed and make better use of human efforts.
By delving deeply into customer experience, business process design and operating model change, organizations can more effectively move from 'doing' digital to 'being’ digital.
Running at the Speed of Digital: Hyper-Digital Information ManagementCognizant
Consumers’ need for instant access to information through multiple channels is growing. While some companies in specific segments of the IS industry offer impressive capabilities, none provide the full range of technologies and resources needed to support a cohesive, all-inclusive, digitally-equipped environment for analyzing, ingesting, managing, and delivering content across the value chain. In a hyper-digital environment, IS organizations can distribute content at breakthrough speeds — anytime, anywhere.
The Chatbot Imperative: Intelligence, Personalization and Utilitarian DesignCognizant
To boost business outcomes and deliver superior experiences, chatbots must quickly deliver responses that speak directly to individual human needs and apply meaningful responses to evolving requirements over time.
The Blockchain Imperative: The Next Challenge for P&C CarriersCognizant
Blockchain, a universal ledger and data-storage platform, can help P&C carriers address some of their most critical business challenges and significantly alter the way they operate. Although the technology has yet to achieve widespread adoption in the insurance space, the time is ripe for carriers to begin thinking about, exploring and experimenting with blockchain.
Digital Business 2020: Getting There from Here, Part IICognizant
This issue of Cognizanti journal is dedicated to the simplicity promised by digital business. The articles illuminate the possibilities and pitfalls on the path to digital business, including a deep dive into quality assurance, human-centric design, intelligent process automation, digital consumer preferences and disruptions to the banking and healthcare industries, as well as ideas and inspiration for established businesses to jumpstart and benchmark their digital journeys.
Beyond Omnichannel: Determining the Right Channel MixCognizant
Many companies believe that simply adding more customer channels or reducing the time it takes to handle customer queries will boost customer satisfaction and enhance the customer experience. Yet the proliferation of digital technologies and touchpoints have made it more difficult to track customer preferences and purchasing traits. By identifying customers’ preferred contact channels, companies can more effectively engage, serve, and retain them while driving profitable growth.
Connected Shipping: Riding the Wave of E-CommerceCognizant
Digital platforms, applications and processes are rapidly changing how shipping and transportation companies operate. Our primary research study confirmed that while acknowledging the importance of a Web-based business model, many shipping companies are proceeding cautiously. Based on our analysis of the e-commerce market and the approaches that some companies are taking, we have defined a maturity framework to help shippers better assess their current capabilities and plan ahead.
Rethink Retail: Create the Future of Shopping TodayCognizant
Rethink Retail: Create the Future of Shopping Today discusses how retailers can transform their business for the modern, multi-channel shopping environment. Today's consumers shop across multiple channels and expect seamless, personalized experiences. The document recommends that retailers focus on understanding their customers, leveraging customer insights, delivering relevant experiences across channels, and building solutions that can solve problems today and adapt for the future. Retailers need to get products and information to customers on any device and through emerging technologies, while also optimizing their operations and organizational structure for the new landscape.
The Work Ahead: How Data and Digital Mastery Will Usher In an Era of Innovati...Cognizant
In this installment of our Work Ahead series, we focus on the impact of digital transformation on the life sciences industry and what it will take to transform an industry value chain in need of drastic modernization.
The Shared Services Imperative: Evolve from Cost-Killer to Value-DriverCognizant
By applying new 'SMAC Stack' technologies to enterprise work, shared services leaders can standardize and automate process work activities, while at the same time delivering greater value through process innovation, reducing risk and revealing new sources of revenue for stakeholders.
The Internet of Things (IoT) promises to change the way enterprises connect, communicate, operate, and compete. At the same time, the IoT has left enterprise networks and IoT devices extremely vulnerable to security breaches. Current IoT devices and infrastructures are simply not equipped to tackle today’s sophisticated attack methods. Vulnerabilities can be easily exploited unless security is embedded from the inside out – from conception, deployment, and maintenance, to the network edge and across connected devices and infrastructures.
Digital Process Acupuncture: How Small Changes Can Heal Business, and Spark B...Cognizant
Our latest research reveals that by applying digital remedies to precisely targeted process areas, organizations can relieve operational stress and generate improvements, yielding outsized results that ripple across the process value chain.
Creating One Customer Journey Ecosystem that Meets All Banking NeedsCognizant
The ability to aggregate and analyze customer data in one place rather than in silos empowers banks to apply forensic and predictive analytics with a lens across the entire institution.
To remain competitive in today's real-time world, retailers need to more effectively read and respond to consumers' digital fingerprints, or Code Halos, to anticipate their preferences and needs and delivery contextually-relevant, timely and inspiring shopping experiences.
The document provides information on the airline industry in India. It notes that there are 454 airports and airstrips in India, with 127 owned and operated by the Airports Authority of India. It also provides statistics on passenger traffic growth between 2007-2008. The history of the airline industry in India is traced from 1911 onwards. Key regulatory authorities that oversee the industry are also outlined. The policies of open skies and foreign direct investment in the industry are discussed. Details are given on major airlines in India like Jet Airways and Kingfisher Airlines.
How Blockchain Can Help Retailers Fight Fraud, Boost Margins and Build BrandsCognizant
Using blockchain's distributed ledger, synchronized database and powerful encryption capabilities, along with its ability to generate smart contracts, retailers can gain early-mover advantage to more effectively collaborate and enhance trust across the value chain.
Making products smart can deliver game-changing innovation, enriched customer experiences and new, across-the-board levels of efficiency. Our latest research reveals practical steps business leaders can take to benefit from this quickly intensifying and accelerating trend.
Organizational Change Management: A Make or Break Capability for Digital SuccessCognizant
To realize the full benefits of digital transformation programs, businesses must manage the impact of digital change on their operational structure, culture and employees.
Reinventing Customer, Employee Engagement Through GamificationCognizant
Abundant gamification examples from non-insurance companies offer insights into how insurers can employ gamification techniques to motivate their workforce, build customer loyalty, enhance product development and much more.
Gamification has quickly attracted a large and loyal following because of its proven ability to improve engagement. Despite this, it is frequently misunderstood. This whitepaper explains how game mechanics consistently help reduce attrition whilst driving productivity and employee engagement.
Gamification has quickly attracted a large and loyal following because of its proven ability to improve engagement. Despite this, it is frequently misunderstood. This whitepaper explains how game mechanics consistently help reduce attrition whilst driving productivity and employee engagement.
E Book - Gamification Apps for Employee EngagementNextBee Media
Gamification is categorized as the utilization of diversion mechanics and progression to drive game-like engagement in a non-game setting. Gamification is the utilization of game-like ascribes to drive game like player conduct in a non-diversion setting.
Gamification uses game mechanics like rewards and challenges to motivate behaviors that help achieve business objectives. Organizations can define objectives, identify missions, and design gamification programs around game components. This includes badges for achievements, levels of progress, challenges to complete tasks, and leaderboards to encourage competition. Careful attention to program design is important for success. When applied well to business processes like call centers, gamification can improve metrics like call volume or customer satisfaction.
Using Gamification to Build a Passionate and Quality-Driven Software Developm...Cognizant
Gamification techniques are increasingly playing a huge role in software development - to motivate team members, reduce the cost of quality, reward high achievers and more. We suggest you begin software gamifying with project management, innovation, the software-development training process and delivery.
Gamification refers to applying game elements to non-game contexts to encourage engagement. Common techniques include rewards, competition, and leveraging people's desires for achievement, status, and collaboration. Game mechanics like points, badges, levels, leaderboards, and challenges are commonly used. Big data provides insights into user behavior to adapt gamification based on motivations. Gamification incorporates psychological concepts of motivation and behavior to properly implement. Businesses use gamification to drive desired user behaviors that benefit their brand by increasing engagement, loyalty, and content through effective data analytics and gamification.
Gamification can be used to motivate behaviors that help achieve business objectives. Key elements of a successful gamification program include:
1) Defining a clear business objective.
2) Establishing a brand mission outlining related tasks to fulfill the objective.
3) Incorporating game mechanics like badges, challenges, and leaderboards to engage users.
4) Careful attention to the overall program design from user interface to rewards.
When applied properly with an end-to-end view tying these elements together, gamification can improve processes like boosting customer service call rates at a call center.
Gamification can greatly enhance companies' ability to meet their business goals, but they must first define their objective, identify the brand mission, determine gaming components and create an effective design.
Gamification 3.0: The Power of PersonalizationCognizant
Gamification is applied in virtually every industry, yet remains remarkably unsophisticated. Gamification 3.0 is the next level of gamification -- combining the power of big data, behavioral insights and elements of psychology and neurosciences to motivate users to advance their personal and professional goals -- all in the context of their personality, emotions, habits and activities.
Gamification involves introducing game-like constructs such as points and badges into non-game applications to increase engagement and loyalty. It can be used across various business areas such as marketing, sales, customer service, and project management to drive behaviors like participation, productivity and problem solving. Implementing gamification requires understanding business goals and identifying key actions to reward through a points system integrated with social and analytical features. Gamification has potential for improving business metrics and global organizations are increasingly adopting it.
We are an award winning Mobile Application Development Company with approximately 1400 people serving clients in more than 30 countries. We are large enough to be resourceful and small enough to be flexible, and that makes us one of the most dynamic and adaptable Best Mobile Development Company.
As a game development service provider in UK, Gateway Technolabs develop some of the highest ranking Social Games, Casual Games, e-Learning Games and Mobile Games worldwide. For more details you can visit our website...http://goo.gl/xEnX6K
Whitepaper: Increasing Performance With Data-Driven Insight, Not SpendingIconixx
Are you losing money through your incentive compensation program? Rather than relying on forecasts to maintain their trajectory for growth, companies need to address key challenges that may limit their future revenue. By focusing on improving their approach toward rewards and recognitions, companies can get closer to generating the positive outcomes they aim for in their forecasts.
Social Business Transformation through GamificationIJMIT JOURNAL
This document discusses how gamification and social initiatives can be used together by enterprises to increase engagement among knowledge workers and customers, yielding better business results. It describes how game mechanics like goals, rules, feedback and rewards can be applied to business processes and technologies to make them more engaging. The paper outlines trends in enterprise gamification, challenges to adoption, and how game design thinking can transform businesses. Benefits of gamification include improved employee engagement, productivity and understanding of customer behavior.
This presentation provides brief introduction of Gamification. It talks about what and why Gamification is needed. It talks about Gamification in Enterprise.
There are several advantages associated with the use of Gamification, but those inherent to the purely emotional side and linked to the user's ego, have a clearer positive impact, as they lead to a greater level of involvement and loyalty. In fact, gamification allows financial institutions to "exploit" the already collected data, to provide personalized and compelling experiences that encourage their customers towards specific and virtuous behaviours for the company.
Retail Touchpoints Study: Gamification Brian Crotty
Leading retailers are using gamification strategies to boost customer engagement and loyalty. Gamification involves using game mechanics and rewards to motivate behavior. Retailers are implementing gamification by rewarding customers with points and badges for visits and purchases. This increases foot traffic and purchase rates. Companies partner with gamification vendors to create memorable brand experiences focused on engagement, loyalty, and awareness. Both virtual rewards like badges and physical rewards can be effective depending on the audience and what will motivate them. Best Buy partners with shopkick to reward customers with points redeemable for discounts to increase in-store visits and purchases.
Want to know more about gamification? Wondering if a gamified sales program could boost revenue? This guide has the answers. We'll show you how you can use gamification to motivate your office, engage your customers, and increase sales across the board.
Find more info at:
http://gamification.technologyadvice.com/
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Gamification for Insurers: A Practitioner’s Perspective
1. Gamification for Insurers:
A Practitioner’s Perspective
Gamification has already helped insurers improve customer
engagement and employee collaboration. Today, using a
well-designed prioritization model and best practices, carriers
can apply gamification to boost the performance of sales,
marketing, and the brand.
2. 2 KEEP CHALLENGING January 20172 KEEP CHALLENGING January 2017
Executive Summary
Like most emerging technology trends, gamification was introduced with
a lot of hype, and was until recently a favorite topic of research reports
and a go-to buzzword for CIOs and CXOs. It was touted as a solution for
solving real business problems beyond engaging and maintaining the
loyalty of customers and stakeholders.
For some insurers, gamification initiatives generated significant business
benefits. Perhaps the best known is Farmers’ partnership with the
developers of Farmville, which aimed to increase customers’ awareness
of the company’s products.1
On the other end of the spectrum, there
was the belief that gamification only applies to employee training/
education, since questions about the actual business returns had yet to
be answered.
Over time, many insurance companies began to experiment with
gamification using internal and external “players”. While some
benefited, others shelved their initiatives due to poor or no returns, high
maintenance costs, and the need to focus on other opportunities.
Gamification is a bit like change management. Companies understand
its value, but fail to give it the time and focus necessary until later in
the project lifecycle. To meet short- and long-term business objectives,
gamification initiatives require thoughtful and thorough upfront
planning and design.
This white paper describes the key attributes of successful gamification
design, and examines practical and relevant ways to engage resources
within and outside the enterprise. We also present an ROI framework
to help carriers build a sound business case for implementing and
benefitting from gamification.
3. GAMIFICATION FOR INSURANCE: A PRACTITIONER’S POINT OF VIEW 3GAMIFICATION FOR INSURERS: A PRACTITIONER’S POINT OF VIEW 3
4. 4 KEEP CHALLENGING January 2017
The Elements of Gamification
Gamification for the enterprise typically involves traditional game elements. The
first move is to define players’ roles and goals — using digital tools to align the game
with stated business objectives. Game mechanics and dynamics play a critical part in
identifying key game features and how the game will recognize/respond to players’
achievements. These include actions, processes and tasks related to each stage of
the game. There are multiple game components to choose from, including badges,
leaderboards, points, and quests, depending on the nature of the game. (For more
insight, read “Gamification 3.0: the Power of Personalization.”)
Engaging users is a primary aspect of game design, whether for business or rec-
reational purposes. Again, in enterprise settings, the intent is to support business
strategies. For example, if the purpose of a game is to enhance collaboration, its
mechanics, dynamics, and user experiences will be designed around that objective.
Collaboration badges/points can be awarded for providing leads, insights, or for
assistance in cross-selling. If the game is meant to encourage competition and
recognize those who come up with the best solution to a challenge, the combination
of game elements will be different. In these cases, a periodic leaderboard-based
sales contest that rewards agents for problem-solving may be the best option. (See
Figure 1).
Digital devices such as wearables can enhance the gamification experience. For
example, health insurers can invite customers to use their digital fitness wristbands
to participate in real-time challenges with their peer groups. This can improve
customer engagement, encourage competition, and promote physical activity within
a specific time frame.
The Components of Game Design
GAME
MECHANICS
[Badges, Leaderboards, Points]
GAME
MECHANICS
[Badges,
Leaderboards,
Points]
USER
EXPERIENCE
[Storyline, Emotions]
DIGITAL
ENABLERS
[Wearable Monitors]
GA
MIFICATI
ON
Figure 1
5. GAMIFICATION FOR INSURERS: A PRACTITIONER’S POINT OF VIEW 5
Design Challenges
While insurers such as AIA (with Vitality) and Manulife (with its Move and Walk
games) helped gamification gain traction, others encountered major issues with
games that did not balance mechanics and dynamics. This resulted in poor returns
on investment, primarily due to a failure to fully engage employees and customers.
Below are some of the challenges that can result from faulty game design.
• Badge fatigue: Many companies that implemented gamification solutions made
changes to the game’s user interface and failed to align the game with business
objectives. Levels, badges and points are extraneous motivators; games must be
designed with essential motivators in mind. Without proper game dynamics and
a balance between intrinsic and extrinsic motivators, users quickly lost interest;
no matter the prize, badges did not motivate them to play in the long run.2
• Loyalty backlash: In cases where the gamification solution is not aligned
with the strategic objectives of the enterprise and game mechanics do not
consider customers’ needs, disengagement can (and usually does) occur.
Loyalty points or badges are ineffective — frustrating players and causing
them to reject a product/solution, which can potentially affect the brand.
Negative sentiments can quickly spread through social media or word of mouth
— inflicting more damage to the brand.3
• Collaboration competition dilemma: If the objective of a game is to encourage
collaboration, contests and leaderboards can potentially cause the opposite, par
ticularly if players see others as competitors rather than partners. Balancing
collaboration and competition is key, and depends on the type of process being
gamified. The following section details some of the more successful gamification
initiatives undertaken across the life insurance industry.
Real-World Benefits
In our experience, the life insurance industry lags behind in using technology to
spur business innovation. Yet forward-thinking insurers have taken the lead in
employing gamification to support specific business objectives. (See Figure 2).
Figure 2
Build Brand Awareness Improve Quality Differentiate the Brand
Farmers Lawley UHC
Offers virtual crop insurance for 60
million monthly players in the virtual
world of Farmville.4
Ran two-week contest to clean up its sales
pipeline.5
Reward Me, an affinity program, provides
special offers and discounts to participat-
ing members who track health activities.6
Customer Engagement Process improvements Brand Recall
Aetna Allstate GE Healthcare
AETNA’s Mindbloom Life Game™ platform
helps customers and employees adopt
healthy life habits.7
Insurance giant Allstate solicits innovative
ideas from employees with the help of a
gamified social innovation tool.8
Used gamification to run a global
awareness campaign to prevent cancer.9
6. 6 KEEP CHALLENGING January 2017
Applications Across the Spectrum
Gamification can be applied to an insurer’s business internally (to improve orga-
nizational efficiency) and externally (to increase customer engagement) across
various areas of the industry value chain. (See Figure 3 below).
The following use cases describe how gamification can be applied to align with
specific business goals.
Crowdsource ideas for
product design changes from
agents, customers
and partners
Contact center
productivity
Contact center
productivity
Employee
onboarding
& training
Contact center
representative
productivity
Agent
productivity
Knowledge
management for
underwriting
Marketing
campaigns
Financial needs
analysis
Market
research
Quote
generation
Policy
referrals
Customer
profiles
Motivating
customers to
disclose lifestyle
information
Customer
behavioral
modification
for risk
containment
Electronic bill
payment
Prompt
payment
Document
management &
reporting
Self-service
capabilities
Reminders &
notifications
EXTERNAL STAKEHOLDERS
INTERNALSTAKEHOLDERS
UNDERWRITING
NEWBUSINESS
POLICYADMIN
BILLING
EN
TERPRISE-LEVEL INITIATIVES PRE-PURCHASE
7
2
6
1
3
5
4
8
Figure 3
7. GAMIFICATION FOR INSURERS: A PRACTITIONER’S POINT OF VIEW 7
Enhance Sales
A carrier’s market standing depends on the effectiveness of
its sales people. But maximizing sales performance can be
a daunting task. Although many insurers have invested in
enterprise CRM, it is considered an obstacle that gets in the
way of active selling time. Thus, adoption of CRM among sales
professionals has been sluggish.
Gamification is a rational way to conduct sales compe-
titions. Adding gamification elements (e.g., challenges
with rewards) encourages sales agents to be proactive,
and take positive actions such as team-building and
self-directed professional development. (See Figure 4
below). Rewards are also less costly than raising com-
missions or investing in new talent, and can improve the
performance of both individuals and teams.
Figure 4
STEP 2 STEP 4 STEP 6
Each employee is
given an ambition
score based on their
designation and
job title.
Sales contests are
designed using
gamification elements
(awards, challenges
to improve sales
effectiveness).
Competition is based
on time or completion
and made visible using
a web-based system
or TV in the office.
Employees can form
teams and compete
in the spirit of
physically challenging
games.
Employees climb a
point-based ladder in
predefined increments.
Points are awarded
based on achievements
such as the percent of
reps attaining quota;
deals won; revenue per
sales person, etc.
Badges are given to
employees who
excel in CRM sales
activities (closing
10 deals in one day;
closing a sale before
9:00 AM, etc.).
STEP 1 STEP 3 STEP 5
Foster Healthy Competition
Leverage Social Media
STEP 2 STEP 4 STEP 6
Each player is asked
questions about
another’s lifestyle in a
fun, quiz-like setting.
Quiz results are posted
on players’ network
devices or in the office.
As the data from the
game grows and
spreads across user
networks, the insurer
can gather valuable
insights and
suggestions concerning
product design
and pricing.
The insurer can now
identify a target group
with similar risk
profiles, and suggest
peer-to-peer insurance
products to fit their
requirements.
Hybrid products can
be suggested to
individuals based on
their specific needs
and stage of life, with
links to generate
quotes.
STEP 1 STEP 3 STEP 5
CONTEST
RESULTS
Figure 5
Target New Products
Peer-to-peer insurance is gaining momentum, especially
among people seeking price advantages. Individual leads
are not sufficient when designing a suitable P2P insurance
product. The insurer needs to come up with a low-cost
solution for group lead generation, understand the target
group for risk pooling, and suggest products that match risk.
A social-media gamification solution can focus on collabo-
ration. The support of a peer network can enhance lead
generation, facilitate product knowledge, and serve as a
low-cost distribution solution for insurers. (See Figure 5).
1
2
8. 8 KEEP CHALLENGING January 2017
Enrich Collaboration
Among the industry’s major challenges is a scarcity of high-
quality underwriters. Senior underwriters hardly have time to
train and mentor new ones. Carriers need to standardize the
underwriting process so labor requirements and the speed
and efficiency of underwriting can be benchmarked against
industry standards and best practices.
A gamified collaboration platform in the form of an internal
help forum can facilitate knowledge-sharing among under-
writers. Game dynamics could focus on collaboration,
rewards, and self-expression (see Figure 6). This can reduce
turnaround time, bridge skills gaps, and provide support for
complex tasks, such as assessing risk.
STEP 2 STEP 4 STEP 6
Each player assumes
the role of a character
in a scenario (for
example, a person who
was denied a mortgage
due to identify theft).
In one scenario, a
player joins an agency
to fight a rogue group
of hackers trying to
steal data. The player
chooses an avatar
(Captain Confidential,
X-Ray Box, Firewall, or
Raisa Sharp).
Each avatar’s
experience represents
various types of risks to
the organization. After
selecting an avatar,
each player must
answer questions
about a security issue.
As correct answers
increase, threats to the
enterprise decrease.
Points are used to track
each player’s progress,
and award those who
correctly answered the
most questions.
Players must cover a
minimum portion of
the course in order to
achieve the specified
completion level.
STEP 1 STEP 3 STEP 5
?
!
Increase Awareness
Figure 7
STEP 2 STEP 4 STEP 6
Experienced
underwriters post
topics on their area of
expertise or respond
to queries.
New underwriters
(players) can read
or respond to the
posts in a
collaborative forum.
Players can post
questions about issues
they face, such as
assessing complex/
new risks.
Responders earn
credits depending on
the activities they
undertake (number
of articles posted,
questions answered,
etc.).
Credits accumulate
based on the turn-
around time of their
responses. Credit points
can be monetized in
cash after a specified
accumulated value is
reached.
Posts that are
considered the most
valuable can be added
to a repository for
reference by new
underwriters, or made
part of their
mandatory training.
STEP 1 STEP 3 STEP 5
?
!
Facilitate Knowledge-Sharing
Figure 6
Heighten Security
Inadequate data security can significantly impact shareholder
value, corporate stability, brand reputation, and financial per-
formance. Corporate security awareness programs wherein
insurers prepare training materials and mandate training are
de rigueur. Yet the model for most of these courses lacks
direction, resulting in a boring experience for employees, and
leaving the program open to vulnerabilities.
Gamification can increase employee engagement related
to learning and adhering to security policies by focusing
game dynamics on areas such as status, achievement, and
self-direction. The use of a storyline helps employees see
things from the perspective of a victim of a security breach —
increasing their involvement in safeguarding enteprise infor-
mation. (See Figure 7).
3
4
9. GAMIFICATION FOR INSURERS: A PRACTITIONER’S POINT OF VIEW 9
Encourage Customer Wellness
According to a recent survey, over 50% of all deaths
worldwide are due to lifestyle-related diseases.10
Given the
more-than-expected number of premature deaths, insurers
end up paying out more claims than premiums received,
which reduces profits. Consequently, carriers are resorting to
risk-mitigation strategies to overcome high claim ratios.
Applying gamification in healthcare and life insurance
encourages patients to adopt healthy lifestyles and take
up activities relevant to their risk profiles. (See Figure 8).
This serves as an effective risk-prevention strategy for
the carrier.
Offering highly competitive premiums, discounts, and
rewards for adopting a healthy lifestyle can result in a more
positive experience for the customer, reduce fraud, and
avoid unnecesary payouts — by far the largest single cost to
insurers.
Figure 8
STEP 2 STEP 4 STEP 6
Customers are given a
personalized health
tracker that aligns
with the policy they
purchased.
Participants in health
plans engage in
fitness-related games
with their peers.
Policyholders can set
personal fitness goals
using an automated
tool integrated with
their health tracker.
Each policyholder
earns points for their
efforts to adopt
a healthy lifestyle.
Players are
classified by tiers
(King, Queen, Ace)
based on points earned.
Points earned can be
applied to discounts,
premiums or other
rewards (gift cards,
hotel discounts, etc.).
STEP 1 STEP 3 STEP 5
?
!
Reward Healthy Lifestyles
Increase New-Product Sales
As product lifecycles compress, the rate of new product
rollouts is at an all-time high for many carriers. This
places a huge burden on sales agents to promote new
offerings and take their message to the marketplace.
Yet often, agents hesitate to sell new products and
leave the “safety” of familiar offerings that they can sell
confidently. This can slow adoption and negatively impact
new-product sales.
Gamification can bring about positive, long-term behavioral
changes in sales agents. (See Figure 9). It motivates them to
promote new products and offers rewards for their efforts to
increase their knowledge and the quality of their pitch.
In addition to facilitating peer learning and improving agent
skills, this can build awareness of new product offerings,
which in turn can increase sales.
Figure 9
STEP 2 STEP 4 STEP 6
An internal sales team
is assigned to promote
a new product,
then organized into
divisions.
Points are given each
time an agent pitches
the product.
Each point serves as
an entry in the contest;
at the end of the
contest, the winner is
selected from all
entries within their
division.
The team with the most
points receives a
monetary award. A
leaderboard is created
for each participating
division.
E-mails are sent
several times a week to
announce the highest
scorer. A private chat
room is available for
players wishing to
discuss contest updates.
Seeing scores posted
on the leaderboard
encourages
collaboration among
team members.
STEP 1 STEP 3 STEP 5
?
!
LEADERBOARD
Build Knowledge & Confidence
5
6
10. 10 KEEP CHALLENGING January 2017
Figure 10
STEP 2 STEP 4 STEP 6
A social-media game
allows players to
assume the role of a
character in a popular
family sitcom.
One character walks
through the streets
of New York City
collecting gold to
avoid expenses.
Each player/character
is given the opportunity
to purchase insurance
coverage for their
family.
Characters guide their
virtual families to a
better future by saving
game currency,
managing expenses,
and making important
decisions about life
insurance.
Following the
completion of their
missions, players’
accomplishments are
shared via Twitter
and Facebook.
Much of the sales
content is available in
digital format — making
it easy for prospects
to sign up.
STEP 1 STEP 3 STEP 5
?
!
$
Make Marketing Social
Figure 11
STEP 2 STEP 4
Customers/players
are rewarded each
time they choose self-
service options.
The data from these
activities is used to
classify customers by
Silver, Gold, or
Platinum levels.
The rate at which
points are accumulated
varies for each tier; for
complex transactions,
players receive badges.
Loyalty points are
awarded at different
rates to customers
within the three levels.
Points can be redeemed
later as cash value,
or for discounts on
premium payments.
STEP 1 STEP 3 STEP 5
?
!
Offer Customers Incentives & Rewards
Enhance Marketing
Insurers with subpar brand recognition are often challenged
to enlarge their customer base. Due to weak or poorly
targeted campaigns, they fail to raise awareness about the
need for and value of their insurance products among new
audiences.
Adding gamification elements to a marketing campaign in the
form of a social-media game can increase brand awareness,
affinity, and intent to purchase. (See Figure 10). It can also
improve conversion rates among Gen X and Gen Y customers.
Support Customer Self-Service
Insurers using self-service solutions must differentiate
their offerings. The main challenge is to keep the customer
engaged and aware of these services. Carriers need to
convey the value of a product within this context in order to
strengthen customer connections and retain and augment
the customer base.
Gamification can embed certain game mechanics into self-
service systems and motivate customers to use these options.
(See Figure 11).
This can reduce operational costs by optimizing staff, and
utilizing the data originating from self-service systems to
improve the customer experience and increase engagement
through incentives and rewards.
7
8
11. GAMIFICATION FOR INSURERS: A PRACTITIONER’S POINT OF VIEW 11
The Key Value Proposition
Modern insurers face many challenges when it comes to sustaining growth and
engaging customers in the age of digital. Gamification can function as a catalyst
for surmounting these issues and meeting the requirements of a real-time digital
enterprise. (See Figure 12).
GROWTH COST BRAND
Increase awareness Reduce TAT Improve brand recall
Educate and guide customers to
the right product in a user-friendly,
convenient way.
Simplify complex processes and improve
workflow.
Increase the level, reach and
effectiveness of customer interactions.
Improve engagement Improve quality Differentiate the brand
Establish emotional connections with
leads, prospects, and customers.
Motivates internal stakeholders to
deliver quality work. Reduce costly
incidents and tracking tasks.
Set the company apart by
distinguishing loyalty programs.
Increase loyalty Reduce fraud/risk Change perception
Motivate users to interact more often
and increase customer stickiness.
Model customer behaviors, detect
fraudulent activities, and train
employees in risk mitigation.
Accelerate the transition to a real-time
digital enterprise.
Figure 12
12. 12 KEEP CHALLENGING January 2017
A Gamification Framework for Insurers
COMPLEXITYLOW HIGH
LOWHIGHVALUE
Operational
Initiatives to
transform critical
day-to- day
operations
Tactical
Initiatives enable
higher performance
by optimizing
people, processes
and input
Strategic
Alignment
Initiatives relate
to future business
opportunities
(business develop-
ment, growth)
Contingency
Risk mitigation
initiatives for
high-exposure
risks
Policy Administration/
Self-Service Capabilities
Agent Training/
New Product Sales
Pre-Purchase/
Product Suggestions
Underwriting/
Customer Wellness
Pre-purchase/
Marketing Campaign
Enterprise Training/
Security
Agent Performance
Management/Sales Target
Process Improvement/
Internal Help Forum
for Underwriters
8
6
7
5
2
1
3
4
Figure 13
A Gamification Prioritization Framework
Every gamification initiative is a journey — from ideation, strategy/research, to
confirming requirements and implementation. Stakeholders typically agree to
informal, small-scale initiatives, while larger, more complex projects require a
structured approach. A value vs. complexity matrix can be used to evaluate business
opportunities, based on their business value and the relative complexity to realize
them. Business value can be anything from revenue generation, to cost savings, to
recall, for example. Similarly, complexity can be quantified in terms of cost, effort,
risk, and technical challenges. Figure 13 contains a complexity vs. value view con-
structed for the gamification use cases referenced earlier.
A value vs. complexity matrix can be used to evaluate
business opportunities based on their business value and the
relative complexity to realize them. Business value can be
anything from revenue generation, to cost savings, to recall,
for example. Similarly, complexity can be quantified in terms
of cost, effort, risk, and technical challenges.
13. GAMIFICATION FOR INSURERS: A PRACTITIONER’S POINT OF VIEW 13
Measuring Gamification ROI
Measuring the return on investment from gamification initiatives isn’t just about
justifying the purchase decision with upper management; it can also help stake-
holders identify business areas with high revenue potential, as well as candidates
for cost reduction.
In addition to its known benefits, such as higher conversion rates, higher revenue
per person, and more success in cross- and up-selling, gamification provides
several intangible returns, including better brand perception and a better customer
experience. Measuring gamification ROI should consider these factors when
structuring a comprehensive benefit proposition for investors and other key
stakeholders. (See Figure 14).
Benefits Realization
Benefits realization is the process of identifying, defining, tracking, realizing and
optimizing opportunities, and ensuring that the potential upsides from a program
change are actually experienced. Gamification can be a positive disruption. To
quantify the success of gamification at the enterprise level, benefits are classified
generically, and aligned with the main elements of the organization. Classifying
benefits by business or organizational impact aids in validating alignment with
strategic business goals. Areas of significant benefit fall under major strategic con-
siderations, as illustrated in Figure 15 (next page).
Using one of the use cases mentioned earlier, “Agent Training for New Product
Sales,” our analysis shows that the primary benefit of gamification lies in increasing
new product sales through agents’ personal selling methods, which can improve
through competition and collaboration.
Weighing the Returns: Impact Areas
Cost Benefits
Faster turnaround time
Service improvement
Opex reduction
Productivity increase
Revenue
Improve pipeline
Increase cross-sales
Improve sales conversion
Increase revenue per person
Intangibles
Brand perception
Customer experience
Brand loyalty
BENEFITLEVERS
Figure 14
14. 14 KEEP CHALLENGING January 2017
The key tangibles here are increased premium income per agent and fewer invest-
ments for agent retraining programs. Consider a life insurer with more than 5,000
agents on staff with an industry average premium of $120,000 per agent (average
annual premium per agent). If the carrier institutes a gamification-based sales
and product-knowledge contest that is adopted by 20% of agents, and assuming
a 5% improvement in premium per agent due to improved motivation and product
awareness, the expected increase in total sales will be $6 million (For 1,000 agents
with an average premium of $120,000, a 5% increase in premium would account
for $6,000 per agent of $6 million overall). A gamification solution costing even
$1 million will still be considered an extremely good investment by this key perfor-
mance indicator (KPI) — increased premium income per agent. The intangibles will
be stronger agent loyalty, less agent attrition and better brand perception among
agents.
Cost
Containment
20–30% reduced
administrative cost
per inforce policy
25–30% reduced IT
expenditure
30% lower
cost of system
maintenance
20–25% lower cost
of integrating with
new peripherals
Service
Improvement
25–30% reduced
policy transaction
TAT
20–30% fewer
complaints per
1,000 policies
30–35% reduced
claim cycle time
Consistent &
simplified reporting
Quicker system
resolutions
Revenue
Expansion
Increased sales due
to faster & frequent
new product
launches
Increased policy
renewals due to
improved services
Reduced surrenders
& lapses
25% increase in
cross/up sale due to
ability to generate
single view of
customer
Productivity
Increase
30–35% reduction
in NPD time to
market
~30% reduced
process effort/cost
due to straight thru
processing
30–35% reduced
cost for fixing
system defects, ad
hoc reporting, etc.
25–30% integration
with enterprise
BPM to facilitate
business processes
15–25% more
policy service
requests per
employee
Strategic
Alignment
Alignment
with future
strategic initiatives
Better response to
audits, regulatory
& compliance tasks
Faster time to
market for new
sales/products/
processes
Stronger risk
& viability
management
Technology
Competence
Enterprise-wide
strategic technology
prescription
Improved readiness
for new channels
& technologies
Assessing Tangible & Intangible Benefits
Figure 15
Tangible benefit Intangible benefit
Classifying benefits by business or
organizational impact aids in validating alignment
with strategic business goals.
15. GAMIFICATION FOR INSURERS: A PRACTITIONER’S POINT OF VIEW 15
Looking Forward
Gamification was once an industry buzzword, and some insurers successfully
utilized the technique to improve customer/stakeholder engagement. But rarely did
gamification become part of an enterprise application portfolio. More often than
not, it was experimental in nature and used in specific organizational pockets or
business scenarios. Challenges such as user engagement, interest and participation
remain. If used wisely, gamification can resolve some of these problems. While not
applicable in every case, some of the applications discussed in this paper should be
explored.
The key is to ensure that game mechanics (badges, levels, leaderboards), game
dynamics (achievement, reward, status) and the objective of the gamification effort
are aligned, and that the organization captures, analyzes, and applies data gained
from usage patterns and user feedback.
To gauge the relevance, effectiveness, and returns from gamified solutions, we
recommend using methods such as the Technology Acceptance Model (TAM), which
takes into account the ease of use and utility of the technology or solution.
Having a concrete business objective and a solid game design to support that
goal is by far the most critical factor in leading a successful gamification initiative.
Coupled with a robust ROI framework, this can build a sound business case for
exploring and implementing gamification across the insurance value chain.
One Way to Approach ROI Measurement
To understand the potential returns from gamification, we suggest the following
measures:
• Ascertain the cost of the gamification initiative.
• Identify benefit areas associated with the initiative.
• Identify KPIs to quantify tangible benefits under the areas identified.
• Measure current values of the KPIs identified.
• Predict change in KPIs with the gamification initiative.
• Quantify tangible benefits with the estimated change in KPIs.
• Calculate ROI based on cost and tangible benefits.
• Assess intangibles such as customer loyalty, brand perception.
• Make the final go/no-go decision.
Quick Take
16. 16 KEEP CHALLENGING January 2017
Footnotes
1 “Farmers innovative promotions using Farmville,” www.insurancejournal.com/news/
national/2010/10/14/114046.htm.
2 “Pushing through the badge fatigue,” https://social.ogilvy.com/pushing-through-
the-badge-fatigue-what%E2%80%99s-next-for-location-based-apps/.
3
www.bloomberg.com/news/articles/2016-04-12/starbucks-declines-on-concern-
about-loyalty-program-backlash.
4
www.xuber.com/us/game-on-insurance-industry
5
Gamifying activity logging and opportunity management: www.slideshare.net/
leveleleven/lawley-pipeline-and-actvty-log-contest-presentation
6
UHC Reward Me: www.uhccommunityrewards.com/
7
“Aetna and Mindbloom Gamify Wellness to Help Drive Healthy Habits,” https://
www1.aetna.com/news/newsReleases/2012/0411-Aetna-Mindbloom.html
8
“AllState using gamification for assisting ideation from employees,” http://
download.mindjet.com/www/pdf/spigitengage/case-studies-allstate.pdf
9
“How to integrate gamification into your social media campaign,” https://www.
ge-healthahead.com/get-fit?language=en&country=US
10
www.who.int/mediacentre/factsheets/fs355/en/
References
John Hancock wearables & gamification
http://jh1.jhlifeinsurance.com/jhl-ext-templating/filedetail?vgnextoid=198d7a0fbe2
1c410VgnVCM1000003e86fa0aRCRD&siteName=JHSalesNet
AXA online game educates customers on insurance fund
www.digitaltrainingacademy.com/casestudies/2015/03/gamification_case_study_
axa_online_game_educates_customers_on_insurance_fund.php
Sales gamification
www.sales-initiative.com/toolbox/leadership/the-power-of-sales-gamification/
http://www.citoresearch.com/app-dev/top-3-mistakes-sales-gamification
Enterprise gamification
www.cio.com/article/2900319/gamification/3-enterprise-gamification-success-sto-
ries.html
Allstate gamification
http://www.gamification.co/2015/04/16/how-allstates-games-based-training-
boosts-employee-engagement/
17. About the Authors
Karthik Shyam Manoharan is a Senior Manager within Cognizant Business
Consulting‘s Insurance Practice. He has 11-plus years of experience in the life
insurance and IT industries, including functional consulting, business process
redesign and solution development in sales and distribution. He has proven
expertise in executing distribution effectiveness and digital agent enablement in
consulting engagements for life insurers in the U.S. and APAC. Karthik holds a post-
graduate degree in management from Great Lakes Institute of Management, spe-
cializing in finance, and holds insurance certifications from LOMA-US and CII-UK.
He can be reached at KarthikShyam.Manoharan@cognizant.com | www.linkedin.
com/in/karthik-shyam-manoharan-56316848.
Rohit Agarwal is a Manager within Cognizant Business Consulting’s Insurance
Practice. Rohit works with customers from both P&C and life and annuities
industry, and has nine years of experience in business consulting and program
management. He has advised clients on business process management, workflow
automation, new business, and underwriting process areas, and has a keen interest
in emerging technologies, including gamification, social media analytics and the
Internet of Things, and their impact on the insurance Rohit holds a post-graduate
degree in management from Xavier Institute of Management, FLMI from LOMA-US
and multiple certifications from AICPCU. He can be reached at Rohit.agarwal2@
cognizant.com | www.linkedin.com/in/rohit-agarwal-flmi-ains-acs-1431908.
Govind Shukla is a Consultant within Cognizant Business Consulting‘s Insurance
Practice. He has five years of experience in the life insurance sector, focusing
on product development, functional implementation, business analysis, business
process consulting and digital transformation across the U.S., UK and Japan. He
has published articles on IT implementation trends in India’s leading IT journal,
PCQuest. Govind holds a post-graduate degree in management from Institute of
Management Technology, Ghaziabad, as well as certifications in insurance from
LOMA-US. He can be reached at Govind.Shukla@cognizant.com | www.linkedin.
com/in/Govind-Shukla-30113b11.
GAMIFICATION FOR INSURERS: A PRACTITIONER’S POINT OF VIEW 17