iag_business empowerment by innonation-lean-digital it alignment
TRANSCRIPT
Business Empowerment by IT
October 2015“Innovation• Lean• Digital” alignment
The most famous brand in Greek Insurance Market
The highest brand awareness (99%) 2nd position with a market share of 9,6%
Profit: €16 mil GWP: €365 mil
Balanced presence in Non Life, Health and Life Business Lines
The only insurer with its own Health and Assistance infrastructure
Successful implementation of multi distribution model
The 1st direct insurer in Greece through Anytime
Innovative products in Investments,
Health, Assistance 1.151 Group employees
(58% men – 42% women): Insurance
603 Assistance
377 Clinics
171 1.100.000 unique customers:
850.000 for INTERAMERICAN 250.000 for AnytimeData 2014
The new operating model
Changing consumer behavior
Wider use of internet Rise of smartphones
and mobile devices Role of social media
Rise of Internet of Things (IoT)
Digital devices and sensors can now provide data through the Internet of Things (eg. Connected homes, telematics etc)
Big Data Analytics Big Data Analytics is
revolutionizing data analysis (real time data from the IoT, data from operations, social media data)
Changing core systems Technology is changing core insurance
systems (claims payments, underwriting, policy issuance, billing etc)
Emergence of new IT offerings such as cloud computing
Increasing and new regulations Solvency regulations are impacting insurer IT
systems Stricter EU Data Privacy and Protection laws
from 2015 and on
The new business environment
The new business environment
Telematics can provide data that may reduce fraudulent claims
Connectivity will reduce some risks:
health data may provide
early detection of health problems
homes fires can be detected early,
auto driving cars may reduce driver liability and decrease accident rates
50% reduction in home risks due to smart devices
20% reduction in auto risks due to telematics devices.
On the other hand…
Reduction of 20% is expected in global non-life premiums due to technology impacts
Over-regulated industry
New risks are emerging Digital risks/Cyber risk Very hard competition
Instead of the traditional competitors new ones like aggregators and new digital entrants can cause disruption
…transforming traditional to digital modelExplore and use all available digital technologies so that IAG can compete effectively in the evolving insurance marketplace and can remain a relevant and attractive choice for customers in the digital age.
…providing operational excellence through lean operationsEstablish within Interamerican a continuous improvement mindset through the Lean principles & techniques, in order to enhance value in all areas of the profit chain (customer, employee, financial value)
…facilitating Innovation (part of our DNA)To establish a group-wide process of innovation at INTERAMERICAN in order to expand into new markets and reach new customer segments, increasing our competitiveness and generating high growth
Our business strategy
Business Empowerment by IT is taking place by…
Focusing on:
a commitment to becoming the leading digital insurer in Greece
a profitable growth in all line of businesses achieving market share increase
Big data driven decisions and rapid execution a lean way of operation the enrichment of our multi-distribution strategy
through strategic partnerships the maximization of digital technology benefits
across all distribution channels and customer touch points the involvement of all business lines and company
functions to digital change the nurturing of a new corporate culture that inspires
innovation and most importantly, a heartfelt concern for delivering
true value to customers Develop an omni-channel experience
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Our business strategy
Data transfer Analytics
Car
Data collection
OBD
Websitewww.buythemile.gr
An OBD device is installed to the OBD portal by the consumer to count the kilometers, no GPS in place
Positive reaction from the customers in the scope of a value for money proposition
Develop innovative - digital products
Feedback
Customer
Self Driving Cars in Greece
Trikala is one of the city candidates participating in CityMobil2 project. The project is successfully integrating driverless intelligent vehicles in urban environments with real traffic conditions, encouraging citizens to use them
The self driving vehicles offer automated transfer to maximum 10. The maximum speed doesn’t surpass the speed of 20 klm/ h. In addition the person responsible for monitoring the movement of the Bus control center is considered as the vehicle operator
2014 Greek Parliament accepted law for research purposes under pilot allowing bus urban releases circulating on road without presence of a driver on board https://www.youtube.com/watch?v=L99XJg0qRVc&feature=youtu.be
Anytime is insuring the buses for MTPL & Road Assistance
Develop innovative - digital products
Direct business champion
Visit online: www.anytime.gr
or call: 801 11 30000
Based on: Simplification
Standardization
Lean processing
Providing: Advanced tools
Targeting to: Easy to do business with
One & Done approach
Minimal administration costs for our agents / brokers
Launching the «e-office»
To be the best choice for traditional sales channels
ASK ME the 1st extranet platform in Greek insurance market for traditional sales channels (agents and brokers) providing:
Access to customer data Full customer service capabilities Sales scorecards Remuneration data Sales networks remuneration Product & services information Sales & Marketing tools Market & competition insights Article clipping 360o customer view Alerting (unpaid policies, maturities etc) Powerful search function Calendar function Emailing Customized presentations
To be the best choice for traditional sales channels
3.620 active users 390.206 sessions 1.424 sessions per day 3.210.308 pageviews
Immediate underwriting decision on all cases Automatic approval in the majority of cases (70%) Automation in replies for difficult cases Automatic creation of preliminary medical
examination form Increase of the salespeople productive time Unique experience and service for the customer
The average time of issuing a Life & Health Insurance policy is now 15 minutes including online-real time the payment
“”
GENIUS the first underwriting system in Greece, which automates the process of risk assessment and policy issuance in Life & Health, offering competitive advantages to our intermediaries.
To be the best choice for traditional sales channels
Digital based Shopassurance partners:
Channel is being developed on a combination of:
physical product purchases for low cost insurances (Road Assistance in a box in Carrefour shops)
digital based purchases – online “points of sale” for direct brand ANYTIME:
Carrefour Shell, COSMOTE IKEA ATTIKI ODOS
Digital partnerships
iCare medi application running on tablets in order to digitalize the communication between our back office and our medi network’s doctors.
To provide Unique Customer Experience
New e-Claims via assistance process: Motor insurance claims Application runs on tablets e-signature feature On the spot e-announcement via our road
assistance drivers
To provide Unique Customer Experience
The 1st Claims & Repairs Center, unique in Greece, which brings together all the car services in one place:
Claims announcement Damage assessment Claims adjustment Replacement car Car repair Compensation
2.300 m2 garage
70 people specialized staff
In 2014: more than 34.000 claims have been
managed and paid (customers & non)
more than 3.600 from our customers’ cars have been repaired
To provide Unique Customer Experience
Presence on:
YouTube
Google+
INTERAMERICAN & Anytime Social Media
Online Community:
More than 380.000 users
To provide Unique Customer Experience
Loyalty and rewarding program for INTERAMERICAN and Anytime customers
Offers and discounts from famous brands in Greece
Anytime Club: Launched: 07/2013 32.720 members
INTERAMERICAN Club: Launched: 03/2015 4.250 members
INTERAMERICAN & Anytime Loyalty Club
To provide Unique Customer Experience
Data Q3 2015
Customer Intelligence
Initiatives Management Execution
Segmentation
Campaign Creation
Customer Value Modeling
Trends Analyses
Predicting modeling
Campaign Management
Retention
Loyalty
Cross Sell
Up Sell
Call Centers
portals
Sms smart apps
Knowledge Management
CustomerData Mart
IIW Data Warehouse
Data Sources Analytics
Enterprise Data
Warehouse
Source 1Source 1
Source 1Source 2
Source 1Source 3
Source 1Source 4
Source 1Enterprise CRM
Fraud Data Mart
Reporting
Business & Marketing Analytics
Fraud Detection Analytics
To become Big Data champion
Focus on BIG DATA, improving our Business and Customer intelligence . Targeting to effectively unlock the value of data to deliver valuable insights to customers will gain significant operational and competitive advantages.
To become Big Data champion
Predictive modeling| Segmentation Profiling
Analysis | Customer value | Reporting | KPI’s
Analytics | Optimization | Data mining
Better Decision making
Less lapses
More sales
Input
Market
Surveys
CRM
Data
Campaigns
Analysts
Customer & Business !ntelligence
Insights
Less costs
Focus on Customer Engagement Value
Strategic Focus:
Measurement:
Profitability:
Marketing
Processes:
• Create profitable new products
• Short term focus (accounting year)
• Event-oriented campaigns
• "One size fits all" processes. ie. all customers served with the same way
• Financial measures at portfolio level, sales, market share at policy level
From…
Focus on Customer Engagement Value
Strategic Focus:
Measurement:
Profitability:
Marketing
Processes:
Maximize customer value
Long term planning; profits stemming from customer loyalty
Customer value campaign ROI
Prioritize
Decision making and measurements based on customers share & lifetime value
To…
The most digital insurer in Europe by 2020
Our Vision to become…