1

Top 4 Customer

360 Use Cases for

Insurers

The status quo isn’t good enough any more

88% of customer data is ignored

84%average retention rate for

insurance companies

67%of customer churn is due to only

one bad experience

2

A new approach to Customer 360 will pay off

3

2.7xInsurance promoters are 2.7x

more valuable than passives,

owning 2.4 products with 97%

retention

Information is fragmented across many systems and must be synthesizedto create a customer profile

4

Policy

Administration

Policy Self-

Service

DemographicsAgent

Interactions

Call

Center

RelationshipsSocial Profiles

Claims

Processing

5

Sentiment

Life Events Churn, Risk, &

Value

Personality

Influencers

Alerts

Inferred

Demographics

Customer Journey

Proximity &

Location Events

Insights can be derived to turn a customer profile into an intelligent Customer 360

Having an intelligent Customer 360 will impact every step of the customer lifecycle

Acquire new prospects

and customers

Improve the

Customer Experience

Expand the Customer

Relationship

Retain the Right

Customers

6

7

1

Acquire

• Micro-segmentation of high potential

prospects for multi-line insurance

products

• Build targeted campaigns based on life

events and interactions

• Anonymous prospect identification for

abandoned quotes

• Prospect journey mapping and

optimization from digital to agent

transactions

8

Improve

• Customer survey feedback analytics to

understand root cause of NPS detractors

and passives

• Target NPS “Detractors” with

personalized offers & service

• Identify and eliminate friction points in the

CX

• Personalized omni-channel experience

• Enable customer service to ask the right

questions at the right time

2

9

3

Expand

• Self-service data access and discovery

for marketers

• Customer journey mapping from digital

to agents

• Intelligent product recommendations

based on analytics

• Micro-targeted cross-sell and up-sell

campaigns

10

Retain

• Discover indicators of relationship decline

• Churn indicators and retention actions

derived from agent interactions

• Customer journey optimization from online

to agent

• Personalize customer service by prompting

agents with detailed customer

understanding

• Manage the retention/renewal journey

4

Use a Customer 360 to gain true business value

11

Deeper insight into customer digital/in person interactions to improve experience and retention

Actionable intelligence on cross-sell buying patterns and actionable triggers

Next Steps

• Assessment

• …

12

Learn more:https://www.allsight.com/insurance-and-cim