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CLIENT CASE STUDY


Leading Asian life insurance group: Distribution and marketing

Read how this insurer established a customer-centric marketing function using analytics and digital customer engagement.

Overview

Read how Accenture has helped a leading Asian life insurer to establish a customer-centric marketing function using analytics and digital customer engagement.

Over 18 months, Accenture and the insurer built the foundations of a customer-centric organization with a clearly defined marketing vision. The companies teamed together to establish governance structures and define a comprehensive digital strategy, including digital channel awareness, a back-end leads management process and acquisition leads generation. As a result, the insurer saw the generation of over 13,000 leads within three months in the digital acquisition process, creating a new awareness in the market.

Opportunity
With pressure from shareholders and competition in the insurance industry intensifying, the insurer embarked on a series of strategic initiatives to:

  • Transform its group-wide marketing function.

  • Gain greater levels of insight into its customers.

  • Improve customer experiences and relationships.

Solution

Accenture helped define a marketing vision and designed a future-state marketing capability blueprint supported by a detailed roadmap to:

  • Create a single customer view used for customer segmentation and predictive modelling.

  • Design a selection of customer-centric marketing processes.

  • Execute a pilot campaign using predictive modeling and analytics.

  • Provide continued campaign management support.

  • Expand the insurer’s analytics capabilities.

  • Develop a digital pilot, including a digital media and acquisition strategy, a digital platform to engage customers online, and a back-end support process to manage and distribute new leads.

Results

Over 18 months Accenture and the insurer built the foundations of a customer-centric organization. Accenture exceeded the insurer’s expectations by:

  • Creating a customer database with over 800 variables in six weeks.

  • Delivering its first customer-centric campaign in seven weeks, from conception to delivery.

  • Implementing customer-centric processes and governance structures to help facilitate a customer-focused mindset.

  • Establishing a strong core for marketing, using analytics based on a single customer view, customer segmentation and a collection of predictive models.

  • Defining more than 20 campaign opportunities based on customer segment characteristics and purchasing behavior.

  • Increasing response rate up to two times compared to the control group through the use of customer insights.

  • Developing a comprehensive digital strategy, including a digital platform, digital channel awareness and a back-end leads management process.

  • Generating over 13,000 leads within 3 months in the digital acquisition process and creating awareness in the market.


Industry & topics highlighted

Insurance