CLIENT CASE STUDY


Leading Turkish insurer: Customer management program

Learn how Accenture helped this insurer define customer segmentation across three dimensions for increased retention and sales.

Overview

With an already broad product range and product-oriented operating model, the company sought to shift its focus to the customer in order to increase retention, benefit existing sales, and create segment-based marketing. Accenture analyzed and modeled the company's customer data to deliver a three-dimensional customer segmentation model based on value, need and behavior. This achievement resulted in:

  • An increase in cross-selling, up-selling, retention and collection ratios.

  • New campaigns targeting the right customers with the right products through the right channels.

  • The identification of critical customer touch points and quick wins, which helped to customize the customer experience.

  • A newly defined target campaign management model, with a governance structure, high-level processes, key performance indicators and functional requirements, which enabled the design, execution, monitoring and reporting of customer-oriented campaigns.

Opportunity

With an already broad product range and product-oriented operating model, the company sought to shift its focus to the customer. By improving its marketing activities the company's goal was to increase retention, cross-selling, up-selling and collection, and create segment-based sales actions and campaigns. Additionally, the company hoped to:

  • Expand the company's analytics capabilities.

  • Define customer ownership and effective customer contact management.

  • Manage the customer experience at almost all customer interaction points.

  • Obtain a consolidated view of life and pension insurance customers and their behavior and needs.

Solution

Accenture analyzed and modeled the company's customer data to deliver a three-dimensional customer segmentation model based on value, need and behavior. The model targeted sub-segments in each top segment to define cross-sell, up-sell and renewal strategies as well as retention sub-segments to create specific retention strategies. Accenture also:

  • Extracted and listed requirements on effective data management, including external parties.

  • Created a consolidated view across all products and life and pension insurance customers using the Customer Analytical Record (CAR) Accenture-patented asset.

  • Developed a high-level customer- centric roadmap that included activities, deliverables, proposed timeline and expected benefits for each initiative, covering the scope of the corporate strategy roadmap but also providing discrete steps for a transition to a targeted customer-centric model.

  • Assessed the company's customer relationship management (CRM) capabilities in detail and defined areas for high-level improvement, concentrating on customer strategy, customer segment management, a customer service model aligned with target segments, marketing and campaign execution, and channel integration and management.

Results

With Accenture's help, the company was able to define high-level customer segment management and service principles and create a new segmentation model. This achievement resulted in:

  • An increase in cross-selling, up-selling, retention and collection ratios.

  • New campaigns targeting the right customers with the right products through the right channels.

  • The identification of critical customer touch points and quick wins, which helped to customize the customer experience.

  • A newly defined target campaign management model, with a governance structure, high-level processes, key performance indicators and functional requirements, which enabled the design, execution, monitoring and reporting of customer-oriented campaigns.

Industry & topics highlighted

Financial Services