This document discusses engaging customers more profitably through improving the customer experience. It begins by introducing the speakers and Banner Managed Communication. It then discusses the strategic dilemma insurers face in wanting to get closer to customers but often not interacting directly with them. The reality of the customer experience today is examined, highlighting challenges. Seven key essentials of a good customer experience are outlined. Examples of best-in-class customer experiences are provided from other industries. Finally, the document shares real-life examples of communication innovation and simplification that insurers and brokers have implemented.

1. Engaging customers more profitably
Barry McPhillips and Mark Buckingham
Getting closer
to the customer

2. Hello
© Banner Managed Communication 2015

3. © Banner Managed Communication 2015
Barry McPhillips
Multichannel Solutions
Director
Mark Buckingham
Operations Director
Your speakers today

4. Banner Managed Communication
£80m marketing services business – 250 staff
UK, Europe, USA, India, Singapore
We create multichannel campaigns that are
as effective as they are efficient
We help get clicks on websites; policies converted
and renewed; Pounds on the bottom line
Delivering results through our data, creative and
tech; in an always-on, always-connected world
Significant sector expertise and experience
helping insurance companies to communicate more
effectively with their audiences.
About Banner
Creating amazing experiences
© Banner Managed Communication 2015
Multichannel
Campaign
Planning &
strategy
Data/Insight
Services
Digital
Marketing
Services
Print,
Document &
Logistics
Management
Managed
Technology
Services
Creative
& content
Services

5. Reality of Customer Experience today
Challenges and Opportunities
7 key essentials of CX
Best-of-class examples of CX
Real life examples for insurers/brokers
This session
will take you
through:

6. The strategic dilemma

7. © Banner Managed Communication 2015
90%
of all insurance CEO’s chose ‘getting closer to their
customer’ as their most important strategic initiative
over the next five years
Study by IBM Institute for Business Value
The strategic dilemma

8. © Banner Managed Communication 2015
90%
of all insurance CEO’s chose ‘getting closer to their
customer’ as their most important strategic initiative
over the next five years
Study by IBM Institute for Business Value
The strategic dilemma
However…

9. © Banner Managed Communication 2015
Insurers might never even talk directly to a customer
When it does happen, information is fragmented
due to complex multichannel, multi-equipment
communications
Information systems and processes revolve around products,
rather than customers
The strategic dilemma

10. The series of interactions people have with a company
via all available channels such as telephone, web, branch,
marketing communications and service interactions.
Customer Journey concerns itself with
what people do and how they feel about those
interactions. It can focus on a specific task
(like buying a product) or the entire customer lifecycle.
© Banner Managed Communication 2015
Customer
Journey
definition

11. Reality of CX today

12. 70%
Consumers frustrated
by having to provide
information already given
35
Out of 100 people
unhappy the company
didn’t recognise them
as a current customer
53%
Consumers said they use
multiple devices in the
process of making a
single purchase
69%
Marketing executives
yearn for ‘real-time’
connectivity with
customers
72%
Of consumers frustrated
with an app that offers no
functional difference from a
business’ mobile website
© Banner Managed Communication 2015
The Reality
Customer Experience in numbers
55%
Marketing Executives say
its impossible to respond
to every consumer social
media engagement
80%
Companies believe they
deliver a superior
customer experience –
8% of customers agree!
4%
The percentage of
dissatisfied customers
who voice concerns
to a business
5%
Probability of selling
to a new prospect
60%+
Probability of selling
to an existing customer
Sources:
“Understanding Customers” by Ruby Newell-Legner
Forrester ‘State of the Nation for CX’ Report

13. © Banner Managed Communication 2015
The most cringe-worthy phrases
customers don't want to hear:
“We’re unable to answer your question. Please call xxx-xxx-xxxx
to speak to a representative from xxx team.”
“We're sorry, but we're experiencing unusually heavy call volumes.
You can hold or try back at another time.”
“Your call is important to us. Please continue to hold.”
Source: American Express Survey, 2014

14. © Banner Managed Communication 2015
The top three reasons
for losing a customer:
3. Don’t talk to or listen to me
2. Failure to solve a problem quickly
1. Feel poorly treated

15. Challenges
and opportunities
for insurers

16. © Banner Managed Communication 2015
Do you know what it is like
to be your customer?
Challenges and opportunities

17. © Banner Managed Communication 2015
For questions about your
existing policy, press 1.
For information on taking out
a new policy, press 2.
For questions about making a
claim, press 3. For questions
about the status of your
claim, press 4. For questions
about our products and
services, please visit our
website at www...

18. © Banner Managed Communication 2015
Do you know what it is like
to be your customer?
Challenges and opportunities

19. 7 key essentials of CX

21. Predictability

22. Efficient

23. Convenient

24. Personality

25. Personal

26. Advocacy

27. Affirming

28. Simplicity

29. © Banner Managed Communication 2015
Making things
easier for
customers
works

30. © Banner Managed Communication 2015
75%
of consumers are more likely to
recommend a brand because it
provides simpler experiences
Simplicity
increases loyalty

31. © Banner Managed Communication 2015
Customers would
pay more for
simpler experiences
Banks/Retail
Shipping/Mail
General insurance
Utilities
Media
Telecom/Cable
up to
4.4%
more

32. © Banner Managed Communication 2015
Global Simplicity Rankings
1. Internet search 950
14. Shipping/Mail 565
736
734
723
719
711
663
657
625
602
595
574
565
2. Electronics
3. Restaurants
4. Internet retail
6. Retail/Grocery
5. Appliances
13. Telecom/Mobile
7. Media
8. Retail/General
9. Travel/Hotels
10. Retail/Fashion
11. Travel/Booking
12. Travel/Air
15. Retail/Health
and beauty
16. Social media
17. Automotive
19. Banks/Retail
18. Fitness
20. Travel/Train
21. Telecom/Cable
22. Utilities
23. Travel/Car rental
24. Health insurance
25. General insurance
564
530
529
524
517
501
484
473
445
329
258

34. © Banner Managed Communication 2015
Why are things
so complicated?

35. © Banner Managed Communication 2015
Why simplicity
matters
Online
interfaces
Call
center
Statements
Mobile
self-service
Correspondence
Applications and
welcome kits
Loyalty programs
The brand that customers
know and trust is the one they
interact with most

36. © Banner Managed Communication 2015
The all-too-frequent experience

37. Challenges and opportunities
2013 Industry Service Rankings
moneysupermarket.com
01 Hairdressers
02 Hotels
03 Beauty salons
04 Restaurants/coffee shops
05 Garden centres/florists
06 Supermarkets
07 Department stores
08 Clothes stores
09 Entertainment centres (e.g cinema/bowling)
10 Travel agents
11 Gyms
12 Building societies
13 Mobile/broadband companies
14 Banks
15 Energy companies
16 Estate agents
Financial Services
© Banner Managed Communication 2015
7%
of Britons trust and like their bank

38. Best-in-class
examples of CX

39. Simplified patient reporting…
Before

40. Simplified patient reporting…
Makes data
more
actionable
After

41. In any channel the patient prefers…

42. Simplified branch engagement
Bank of Ireland
© Banner Managed Communication 2015
More
relevant to
audience

43. Making family days out
more enjoyable
Customer Experience Design
Solves
CX/business
problems

44. One2one2many CX
Sainsbury’s renamed Tiger bread to Giraffe bread
© Banner Managed Communication 2015
Big Grocer
becomes
human

45. The CX Blueprint

46. How to improve your CX
A Blueprint for success
© Banner Managed Communication 2015
Define
customer and
business needs
Map
the current
customer
experience
Envision
the optimised
experience that
will meet
customer and
business needs
more effectively
Identify and
prioritise
specific work
plans to
implement the
optimised
experience
Test and
refine
prototypes of the
highest-priority
touchpoints and
plan for long-term
implementation

47. CX of the future

49. The re-imagination of CX
© Banner Managed Communication 2015
Connected
"life platforms”
are emerging
The Internet of Me:
The smartphone
as a personal
assistant
Real-time
engagement
Turning content
into conversation
Contextual
collaborations
Generation Z
behavioural
change
Predictive
analytics /
collective
intelligence
Enterprise
intelligence – link
data across
systems

51. What this means for you…
© Banner Managed Communication 2015
Connected objects will
create more data—use it to
create better experiences.
Make recommendations
based on customer
preferences. Tap into
programmatic technology to
deliver relevant marketing in
real-time. Use data-driven
insights to up your customer
service game.
The mobile device is
the remote control for our
lives. Make sure consumers
have a great experience on
their smartphone.
Use context to make it even
better—content about their
location, promos with local
deals/marketing calendar,
one-click booking and
payments etc.
Consumers expect to
get what they want in the
moment they want it. Think
about what this means for
your business—24/7
thinking? On-demand
service? Make interactions
as fast, simple, and easy as
possible and make sure
they are useful in all the
moments that matter.

52. Real life examples of
communication innovation
and simplification
for Insurers/Brokers

53. Case study – Direct consumer
Helping customers to self-serve
© Banner Managed Communication 2015
Challenge/Opportunity
Our client wanted to improve renewal scores and reduce printed communications
Solution
Online based e-doc publishing facility allowing enhanced two-way customer comms
channel via personalised portals
What we achieved
+ Savings – Significant reduction in communication costs
+ Faster – Customers have access to all they need in real-time
+ Sales – Renewal scores increased and customer experience/loyalty enhanced
+ Experience – Customers able to access wider choice of channels to engage

54. Secure and
personal
access
Leading
Insurance Co.

55. Two-way
engagement
facility
Leading
Insurance Co.

56. Branded
for affinity
partners

59. Integrate
third party
systems

60. Case study – Direct consumer
Individualised policy documentation
© Banner Managed Communication 2015
Challenge/Opportunity
Client needed to support its affinity relationship by offering improved customer
communications and policy document management
Solution
Individualised and branded policy documentation design, production and fulfillment
management service across all affinity partnerships
What we achieved
+ Speed – Customers received a branded insurance experience
+ Individual – Every document total bespoke containing personalised policy details
+ Revenue generating – Customers were happy to pay to receive these docs

61. Case study – Direct consumer
Individualised policy documentation
© Banner Managed Communication 2015
Cover
letter
Insurance
schedules
Insurance
policy
wordings
Sales leaflets on other
insurance available
through Insurer
All manually
picked and
packed and
posted to
customer

62. Bespoke branded customer communications
Reflective of the vehicle they have just bought
Just-in-time production and fulfilment
Branded
customer
interaction

63. Case study – Commercial/Brokers
Real-time point of sale quotes
© Banner Managed Communication 2015
Challenge/Opportunity
Client needed to increase quote conversion ratios through Brokers
Solution
ePublishing application to compose/publish and archive documents
within an online broker portal
What we achieved
+ Speed - Brokers had fully prepared quotations instantly
+ Agility - Singular or batched files could be processed
+ Sales - Improved conversions due to shorter wait times

64. . ..
Branch
Underwriter
Broker
• Choice of electronic or optional
paper documents
• eDocs available through secure
eDoc portal for policyholders
• Real time review/approval of
documents in seconds, not days
• Paper-free, eliminates 30% waste
• Choice of electronic or optional
paper documents
• eDocs immediately available on
eBroker site once approved
Phase 1: Branches
Phase 2: Broker
Phase 3: Policyholder
eDoc for Branches
eDoc for eBroker site
eDoc for Policyholders
Real-time point of sale quotes
Real time electronic document creation and delivery by default
Printing, binding and delivery for brokers that opt-in

65. Thank you for listening
Barry.mcphillips@banner-mc.com
Mark.Buckingham@banner-mc.com