Re-defining the customer relationship in the digital age

Transcription

1 Re-defining the customer relationship in the digital age Dylan Bryant FST Media s Technology & Innovation the Future of Insurance conference, June 5th 2013 Hong Kong

2 Agenda Providing customers access to their data via mobile and web in real time - online and app based platforms Creating a central place for customers to view their entire insurer relationship MyZurich and Ace WorldView are leading the way Sharing data analytics and benchmarking with customers CSR s What s next after the award winning Zurich Risk Room and Zurich MIA projects? 2

3 The main purpose of the significant investment is customer retention and attraction 3

4 Providing customers access to their data via mobile and web in real time Where are they headed in the next 5 years? Beyond? Evolving nature of IT strategy and what technology execs need to look at in the future Stay ahead of competition Innovate with the customer in mind Resource constraints Mobile platforms are crucial for customers and insurers Key issues and challenges the industry faces and how different organisations are going about meeting them Legacy systems for claims, customer policy information, finance etc Similar approach from all carriers by going down the path of a dedicated customer portal Data analysis and upload onto the platform Scalability Updateability Data privacy Data collection 4

5 Mobile Applications Risk Engineering 5

6 Customer Portals Where are they headed in the next 5 years? Beyond? They will be crucial in winning and retaining business Evolving nature of IT strategy and what technology execs need to look at in the future Stay ahead of competition Innovate with the customer in mind Resource constraints Mobile platforms are crucial for customers and insurers Key issues and challenges the industry faces and how different organisations are going about meeting them Legacy systems for claims, customer policy information, finance etc Similar approach from all carriers by going down the path of a dedicated customer portal Data collection Data analysis and upload onto the platform Scalability how much manpower does it take to run the portal? Updateability Data privacy 6

7 MY ZURICH Online Portal How does it work? International Programs Your International Program is implemented by the Zurich Network using Zurich s International Program System (IPS) Global single point of entry 24/7 for Risk Managers & teams to information about your global insurance program, claims & critical business relevant risk data Risk Engineering Zurich Risk Engineers complete your site risk assessments and compile the final information in the Global Risk Engineering Workstation (GREW) International Programs Program Overview Report Claims Overview Report Risk Dashboard Risk Data Risk Improvement Actions 7

8 MY ZURICH International Programs Up to date data from your international program Program Overview Report displays a comprehensive set of your policy data issued for a specific program for the past, current and upcoming underwriting years Weekly data updates Reports in Excel Claims Overview Report provides detailed information about losses that have occurred under a certain program over the last three calendar years Easy to Use No irrelevant information 8

9 MY ZURICH Risk Dashboard Access to your global risk information in one place The Risk Data area provides your detailed risk data in a number of different formats, making it easy to understand and analyse. Up to date information Reports in user friendly formats The Risk Improvement Actions section allow you to see your outstanding actions and update them as appropriate within the application Easy to Use Detailed Information 9

10 Currently the focus is on data, target is on actionable knowledge Knowledge actionable Information Data Specific and relevant Complete accurate up to date globally consistent 10

11 MY ZURICH is designed for scalability and flexibility Application Management ( App Store ) Business applications ( Apps ) Portal Services Search Dashboard Event mgmt Alerts Settings Notification News Admin Claims Global Compliance Global Risk Improvement Tax Maps Policy Admin Broker Support Global Risk Management Security Authentication Authorization Self-registration Audit trail Data Integration and caching Backend Systems (decoupled from portal) 11

12 Further developments MUST driven by actual market demand Today Future App App App App App App App 12

13 Sharing data analytics and benchmarking with customers Where are they headed in the next 5 years? Beyond? More and more customers want and need benchmarking that can be sliced and diced according to industry, region, country and more Evolving nature of IT strategy and what technology execs need to look at in the future The level of sophistication will be enormous with data being pulled from multiple sources including internal and external platforms Key issues and challenges the industry faces and how different organisations are going about meeting them Some are using risk engineers to provide data Level of detail to be provided 13

14 Automated Customer Service Reports Enable better understanding of how internal performance depends on the customer and broker Greater transparency with our customers and brokers, meant to improve overall performance A tool to market our capabilities Position the role of UW Service & Support Specialists 14

15 Automated Customer Service Reports 15

16 The Zurich Risk Room Structured insight into the complexities of global risks

17 What is the Zurich Risk Room? The Zurich Risk Room is a proprietary global risk assessment tool developed by Zurich capable of analyzing complex interconnectivities between many different types of risk designed to illustrate the impact of multivariate risks on individual countries a key Zurich differentiator in the market and central to Zurich s Thought Leadership on Risk Interconnectivity 17

18 The Zurich Risk Room is a proprietary global risk assessment tool developed by Zurich 18

19 What is the Zurich Risk Room? The Zurich Risk Room can uniformly analyze up to 70 individual risks, in 6 categories, across 161 countries provide a historical trend analysis of country risk development Help Zurich and our corporate customers answer tough strategic questions such as: Where should we invest next? or How to manage our existing country risks? 19

20 Zurich MIA Structured insight into the complexities of global risks

21 Multinational Insurance Application Comprehensive and easy to use Choose your Line of Business, country of risk and business scenario Non-admitted information detailed including variations (regulatory & tax information Selected country(ies) displayed The data is updated to incorporate any changes to the insurance regulatory laws when notified by our legal network. In addition, MIA data is annually maintained. 21

22 Multinational Insurance Application Comprehensive and easy to use The Multinational Insurance Application (MIA) is a unique tool that supports the crafting of optimal solutions for out of territory (cross-border) exposures based on a consistent factual background and helps to ascertain the customer s optimal deal profile by ensuring compliance with insurance regulatory laws and foreign insurance premium taxes in approximately 180 countries. MIA encompasses information on: insurance regulatory laws and foreign insurance premium taxes. MIA translates complex and detailed questions into a semaphore type of information as this requires a certain common denomination, MIA data is generalized to a degree.

23 Multinational Insurance Application Other Tools and the Future MIA provides information on insurance regulatory laws and foreign insurance premium taxes covering the non-admitted perspective only. Axco and Lloyd s Crystal Guide provide information on insurance (regulatory) laws The future of these and other tools will be in their ability to converge data from different sources and streamline the data collection process

24 Whats Next??

25 Speaker Guidelines Thank you for joining us as a speaker at our forthcoming Technology & Innovation the Future of Insurance conference, taking place 5 June at the Renaissance Harbour View Hotel in Hong Kong. From the information we have gathered from our delegate evaluation forms, we have learned the most successful and effective presentations generally follow the below: 1.Consider your target audience: Who are they? What do they expect to learn? How is the topic you are discussing relevant to their roles? 2.Please refrain from product/service placement, i.e. provide an industry observer/expert viewpoint 3.For a 25 minute presentation, slides is generally sufficient Headlines/titles in slides should be a font size between of Text should have a minimum font size of 24 Keep graphics simple and clean 4.Your PowerPoint presentation should be a visual aid to illustrate certain points you would like to highlight; as opposed to text-heavy slides 5.Slides that include fast facts are generally better accepted than those that are text-heavy 6.Given the futuristic theme of our conference, please try to include points that highlight: 1.Trends to watch out for (both in the near and far term) relevant to your subject matter 2.What CIOs/senior IT or business leaders need to do to prepare for the future Additional feedback from our delegates includes: PowerPoint can be used well; however, some presenters committed death by PowerPoint this style is not engaging. Would appreciate if you could make sure speaker slides are designed to be able to read [there was] too much info and too small print in some [presentations] Prefer presentations that don t involve speaker reading from a script. Topics delegates would like covered: More focus on future trends 5 20 years out. Evolving nature of IT strategy and what technology execs need to look at in the future. Was expecting a lot more content identifying key issues and challenges the financial industry faces and how different organisations are going about meeting them. 25