With customers holding multiple products sticking with the company longer than a single product customer, insurers have been bundling and cross-selling products, which also provide them an opportunity to earn additional revenue. While a number of these insurers position the value of these bundled up offering as “saving money” and lucrative “discounts”, there is an urgent need for a market differentiator. There is a need for effective customer risk portfolio management. The new, more aware customers are now looking for real savings after thorough research and price comparisons, and are selecting the right combination from the right insurer(s). Real value of bundling, for both customers and insurers, resides in the core building block of the product which is the individual coverage. It is becoming vital for the insurers to gather the customer’s information, assess the risk for the customer, build the right coverage mix, and suggest customized products based on the customer’s risk profile. Insurers need to now move towards delivering real value for both the customer and themselves. The approach is to introduce an industry-wise move from being a “build-to-order” to a “customize-to-advice” service provider.

1. Customer Risk Portfolio
Management | Insurance Domain
Effective Bundling:
Just Selling Another Product or Managing Risk Portfolio?
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2. Decoding the Effective Bundling myth….
Market beliefs
 Discount reflects the true value of product bundling
 Bundling eventually leads to higher customer retention
 Buying multiple products from same insurer reflects
higher perceived value for customers
✗Download the white paper to know why!!
Approach to deliver real value
Gathering
customer
information
Assessing
the risk of
the
customer
Building the
right
coverage
mix
Suggesting
customized
products
Enables
Differentiated
Positioning
‘Trusted Risk Portfolio Manager’
Download the white paper to understand this through real case examples
De-commoditized/
Custom
products
Multi line
product
bundling
Advise based
product
bundling
2 Copyright © 2014 HCL Technologies Limited | www.hcltech.com

3. Clear Benefits from the Differentiated Positioning is driving the industry shift….
Increased
customer
retention
Increase
revenue
realization
Higher
customer
satisfaction
Benefits for the insurer
Industry response
Focus on right risk portfolio
management
Focus on effective bundling
strategy
Offering bundling as
convenience of managing risk
portfolio with value added
services
Driving the shift
Download the White Paper to know how companies are actually doing this
3 Copyright © 2014 HCL Technologies Limited | www.hcltech.com

4. In this White paper you will find..
With customers holding multiple products sticking with the company longer than a single product customer, insurers
have been bundling and cross-selling products, which also provide them an opportunity to earn additional revenue.
While a number of these insurers position the value of these bundled up offering as “saving money” and lucrative
“discounts”, there is an urgent need for a market differentiator. There is a need for effective customer risk portfolio
management.
Real value of bundling, for both customers and insurers, resides in the core building block of the product which is the
individual coverage. It is becoming vital for the insurers to gather the customer’s information, assess the risk for the
customer, build the right coverage mix, and suggest customized products based on the customer’s risk profile.The
approach is to introduce an industry-wise move from being a “build-to-order” to a “customize-to-advice” service
provider
• Why effective bundling is not only about discounts?
• How insurance companies are using effective bundling approach to transform their businesses?
• What are the key factors that can help an insurance company unlock the true potential of product bundling?
• What are the key technology enablers that are crucial for unlocking the true potential of product bundling?
CLICK TO DOWNLOAD WHITE PAPER
4 Copyright © 2014 HCL Technologies Limited | www.hcltech.com