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A leading Asian life insurer sought to transform its marketing function, gain greater levels of customer insight through analytics and improve its relationships with customers.
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.
With pressure from shareholders and competition in the insurance industry intensifying, the insurer embarked on a series of strategic initiatives to:
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.
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.
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