Tag "insurance"

Creating Value from the Customer Journey

Financial institutions are increasingly looking at how to better understand the Customer Journey and finding ways of using this information to make themselves more relevant. This is due to increased competition, the need for differentiation, the need for improving customer service levels and the drive towards omni-channel engagement. As Customers and Clients are becoming more... more

10 Digital Footprints with Value to Insurance

What are Digital Footprints? Digital Footprints are the electronic recording of an event, activity or state that captures the fact that something happened at a specific point in time. Having said that, I’ve always found the best way of understanding what Digital Footprints are, is to use an analogy. Consider you’re wandering along a sandy... more

Sources of Data for Building a Customer360

In this blog we’ll look at the different sources of data available to build a Customer360 solution. The move from being Policy centric to Customer centric is being undertaken by most Insurance companies and often forms part of Omni-Channel, Customer Centricity or Digital Transformation programmes. The goal of constructing and operating a Customer360 isn’t an easy one... more

5 Disruptive Technologies Impacting Financial Services

The last 5 to 10 years has seen a number of new technologies emerge that have, and will continue to have, a disruptive impact upon Financial Services organisations. Some have created a profound impact in the way people lead their lives and this in turn influences the way they interact with the Financial Services world.... more

How Insurance Companies Benefit from Information Management

Insurance is a highly competitive business that hinges on providing the right products and industry-leading service to customers. Accurate data is the lifeblood of this business. To overcome their struggle with fragmented data across product lines, functions and channels, a leading US-based insurance company has built a world-class information management practice to enable the company to quickly collect and analyze data, whether it is financial, claims, policy or customer data.

Murphy’s First Law of Bad Data – If You Make A Small Change Without Involving Your Client – You Will Waste Heaps Of Money

I have not used my personal encounter with bad data management for over a year but a couple of weeks ago I was compelled to revive it.  Why you ask? Well, a complete stranger started to receive one of my friend’s text messages – including mine – and it took days for him to detect... more