Webinar: Digital Marketing in China - Compare, contrast, and learn?

1. Digital marketing in china-
Compare, contrast & learn?
18th march, 2021

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Disclaimer
Presentations are intended for educational purposes only and do not replace independent
professional judgment. Statements of facts and opinions expressed are those of the
participants individually and, unless expressly stated otherwise, are neither the opinion nor
position of The Digital Insurer. The Digital Insurer do not endorse or approve, and assume
no responsibility for, the content, accuracy or completeness of the information presented.

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Working together to accelerate the digital transformation of insurance
Key Questions

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Today’s Panellists
Working together to accelerate the digital transformation of insurance

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Discussion Agenda
Opening remarks
Changing environment & DM trends - TDI
Live streaming as a marketing tool - Bihubao
AI’s contribution to digital marketing - ChaCha
We Chat use in insurance – WaterDrop
Industry perspectives & opportunities - IptiQ
Panel discussion including Q&A
TDI updates & wrap up
Working together to accelerate the digital transformation of insurance

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How to participate:
If you have a question please type into the Q&A area
If you have a comment please type into the chat area
Session format:
The moderator will use a combination of their own questions and those from the
audience
Working together to accelerate the digital transformation of insurance
How to participate

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New Players are Re-Setting Consumer Expectations

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The Power is Shifting - Fast

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Changing Consumer Behaviours – What we Want!
Convenience
My time, My place, My way
Speed
Choice
Fair Value & Treatment On Demand
Personalisation
Recognition & Respect
Rewarded Loyalty
Reduced Risk Social Good

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6 ways technology is impacting customer behaviour
Source : http://customerthink.com/6-ways-technology-impacts-customer-thinking-behavior-and-experience/
Decreased Customer Attention
The need for Personalisation
The ease of access to info
Brand trust & likability
Rising customer expectations
Increasing need for ‘good’ customer experience
Impact on
Consumer
Behaviour

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Insurance & the real competition for consumers
Source : The Digital Insurer
INSURERS
Cultural
“Obsession”
Customer
Competitors
Product
Primary Value Driver
Platform

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Source : The Edelman 2020 Trust Barometer
2020

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Source : The Edelman 2020 Trust Barometer
2021

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Traditional insurance = competitive disadvantage

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Marketing methods in a digital age

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China – some callouts on digital marketing
User generated video content
Q1 2021 – 170+ million users
Rise of virtual influencers
Messaging and more
QQ :700mn MAU ; We Chat: 1.2 billion MAU
Rise of livestreaming & v-commerce
US$305 billion livestreaming ecommerce forecast in 2021
Source: Forbes:
https://www.forbes.com/sites/laurenhallanan/2021/02/08/5-china-marketing-trends-you-must-know-in-2021/
And let’s not forget about
- The Power of content
- AI in marketing

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Working together to accelerate the digital transformation of insurance
Live steaming as a marketing tool
壁虎互助

19. ORC
community
SaaS
Product
design
Core services
Settlement
of claim
Core systems
Technologies
Scopes
Product
define
policies client claim SaaS …
Online
payment
OCR(character
recognition)
Big data
analysis
Long-term
insurance
Medical/health
Finance
product/loan
…
marketing
The staged achievements
Bihu ORC is the only platform
which has the whole ORC
insurance service ability to cover
all kinds of clients
Product
innovatio
n
… Development direction
keeps research and develop
insurance technologies,
consummate the cloud platform
and enrich the products.
Products and services from
third party
BIHU
Current situation and
direction
users
Internet
platfor
m
(small)
Internet
platfor
m (large)
Enterprise

20. November 2019
June
2019
May
2019
Apr 2019
Jan 2019
Denghou
ORC
Meituan ORC
Ninghubao ORC
Diandi ORC
Oct 2018
Xianghubao ORC
Haitan ORC
The rise of Online Reciprocal Communities

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Poll 1 – What do you think?
Q: How relevant do you think live streaming is for digital
marketing outside China?
Response options
On a scale of 1 – 10
1 = Not at all relevant
10= Highly relevant

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Working together to accelerate the digital transformation of insurance
AI’s contribution to digital marketing

24. THE LARGEST INSURANCE INFOMATION AND
INTELLIGENT DECISION MAKING PLATFORM IN CHINA
2021.03.18

25. * Data source：Random questionnaire survey. User survey report of Horizon Research Consulting Group, etc
online
purchase
offline
purchase
stimulated
by
demand
Traditional
channels
user
need
internet
insuranc
e
direct purchase
turn to website
info
acquisition
search
compare
learnin
g
consult
back to
offline
purchase
shar
e
shar
e
purchase
decision

26. Intelligent analysis of insurance clauses， contents
* Note: 90 million users refer to the number of browsing users touched by the whole platform, which is not equal to the number of registered users
100thousand
products
90million
users*
200+
companys
6+million
contents

27. 保险
行业
信息
基础
设施
10万+
产品信息
Expert
services
AI
Robots
Objective, efficient and personalized
insurance
company
new
agency
保险
行业
信息
基础
设施
Changing information asymmetry
Whole Data + User-Centered = Disruptive Innovation
Insurance
information
infrastructure

28. 《一种基于语义识别的高效短视频生产方式》
《一种实现数据到新闻的自动发布系统》
《基于人工智能的产品评测及缺陷检测方法和系统》
保险查查APP软件
AI智能新媒体机器人
新型社交化保险笔记系统
保险查查iOS客户端软件
保险查查PC软件
保险查查移动网页客户端软件
保险查查用户端百度小程序
保险查查今日头条小程序
已发证
审核中
已发证
已发证
已发证
已发证
已发证
已发证
保险查查海量保险产品动态管理系统 审核中

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Working together to accelerate the digital transformation of insurance
WeChat use in insurance

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Business Overview
Healthcare and
Pharmaceutical Services
Insurance Marketplace Medical Crowdfunding Mutual Aid
1 3 4
2

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Online
Marketing
Omni-Channel Marketing
Third-party Traffic
Waterdrop
“Funnel”
Conversion
Waterdrop
Insurance
Omni-Channel Traffic Model

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Innovative User Acquisition and Engagement Model
Live Streaming Short Video Text Message
Official Wechat Account

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Poll 2 – What do you think?
Q: How relevant do you think social platforms are for digital
marketing outside China?
Response options
On a scale of 1 – 10
1 = not at all relevant
10 = Highly relevant

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Working together to accelerate the digital transformation of insurance
Industry perspectives & opportunities

36. Product
Development:
Manufacture Products and
Risks for comprehensive
Protection
Customer
Experience,
Lead capturing
& Routing
Distribution
Channels:
quote, sell and close
e-app
Delivery;
User Experience
Connect and
Manage Back-end
Digital innovation expanding the value chain
Data modeling and
Omnichannel
Automated Claims
marketplace; product bundling;
measuring UX Q-scores
Digitization &
Distribution
Manufacture products for
• single sale, bundled sale
• X-sell, upsell
• All protection products (Life,
Health, P&C and commercial,
and product/service
warrantees )
Insurance buyers:
segments and data
models of life stages
Finding and configuring
segments and
acquisition costs
• Agent/Advisors
• Direct
• Call Center
• Other…ecosyste
m/marketplace
Ecommerce and buying
journeys for applicable
channels and product
single, bundle, X and upsell.
(Leveraging data attributes
for pricing, underwriting
and enhanced journey UX)
• Policy Admin
• Consumer Engagement
• Policy
Support/service/Claims
• Data & Analytics
Data Science
and modeling

37. Building expertise in many areas
• process landscape automated and
integrated across the organization
• response time of customers quickened
and waste and costs in operations
reduced
Digital portfolio of products and services
• multiple product portfolio that is fully digital
• ability to bundle and cross-sell
Advanced Analytics
• Personalized offerings (i.e., triggered on life
stages)
• Advanced analytics used across the value chain to
prevent high-cost cases; identify market micro-
segments; and enable accelerated underwriting
with real-time decision
Omnichannel customer experience
• full spectrum of digital channels
• multi-channel targeting of on and offline
marketing
• Increased sales and engagement through
optimized channel mix (SMS, email,
phone, chat…) and content
Automated Operations

38. Many Insurers are struggling with significant Gaps to keep up.
Cultural Debt:
Traditional org design
Market Gaps:
Monoline product
Execution Gaps:
Lengthy builds
Struggle with product pricing & design, manufacturing,
delivery, and servicing; challenges with:
new business processes, management practices,
compliance and information systems
everything about the nature of customer
relationships
Traditional Org Structures make rapid
evolution & innovation challenging; inability
to:
break silos
create agile culture
establish effective dev ops
frameworks
creat integrated cross-functional
teams
Struggle with creating new products to
reach new customers and expanding
new products to existing customers
Inability to configure multiple product
offers to new customers
Held back by Legacy Systems and high
cost processing (feature full stacks
versus use of cloud to digital
interactions, digital signals with API
architecture)
Technology Debt:
Legacy constraints

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Poll 3 – What do you think
Q: How important is trust in digital marketing?
Response options
On a scale of 1 – 10
1 = not at all important
10 = Highly important

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Time to talk
Working together to accelerate the digital transformation of insurance

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https://www.the-digital-insurer.com/search-insurtech-directory/#
Working Together to Accelerate the Digital Transformation of Insurance

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Dynamic InsurTech Maps
Hong Kong, China, SG, India, Indonesia & Portugal Maps now live – more launching soon
https://www.the-digital-insurer.com/dynamic-insurtech-maps/
Hong Kong’s Dynamic InsurTech Map IT’S DYNAMIC - CLICK AWAY!
Value Chain Innovations New Digital Business Models
InsurTech Supporters
Learning
Ecosystems
Comparison Sites
Source: FTAHK & TDI Analysis using TDI InsurTech Directory. Disclaimer : Not claiming to be exhaustive and may include InsurTechs that are no longer active. Please let us know if you think we need to make a change.
Sales
Industry / Govt Bodies
P2P & Community
Financing Hubs & Events
Underwriting & Risk Mgt
Administration / Systems
Analytics
Product Development Health & Wellness Commercial Platforms
Direct
Q3 2020
Marketing
MicroInsurance Risk Assessment
Working Together to Accelerate the Digital Transformation of Insurance

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Users are able to click through map logos to access digital booths on ITD
https://www.the-digital-insurer.com/dynamic-insurtech-maps/
Hong Kong’s Dynamic InsurTech Map IT’S DYNAMIC - CLICK AWAY!
Value Chain Innovations New Digital Business Models
InsurTech Supporters
Learning
Ecosystems
Comparison Sites
Source: FTAHK & TDI Analysis using TDI InsurTech Directory. Disclaimer : Not claiming to be exhaustive and may include InsurTechs that are no longer active. Please let us know if you think we need to make a change.
Sales
Industry / Govt Bodies
P2P & Community
Financing Hubs & Events
Underwriting & Risk Mgt
Administration / Systems
Analytics
Product Development Health & Wellness Commercial Platforms
Direct
Q3 2020
Marketing
MicroInsurance Risk Assessment
Working Together to Accelerate the Digital Transformation of Insurance

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China Map

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TDI 2021 Insurer & InsurTech Innovation awards
Applications are open until 31st March, 2021
https://www.the-digital-insurer.com/tdi-2021-awards/home/

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www.the-digital-insurer.com
TDI Academy – virtual L&D platform on digital insurance
Digital insurance L&D Platform
Virtual
On-Demand
Preferential
Membership Certificate Mini-MBA
TDI PRIME – affordable annual membership – bring digital insurance to all your team
TDI Academy programmes

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TDI Academy – virtual L&D platform on digital insurance
Common Core Curriculum
of 56 hours
Interactive: Click on lesson title to get more info
7 x 8 one-hour lessons On-demand 24x7 MCQs for each Range of Industry Experts
= Participant rating (out of 10)
8.6
https://www.the-digital-insurer.com/tdi-academy/prime-lessons/
1. OUR CHANGING
WORLD
2. TECH ENABLERS
3. DATA &
ANALYTICS
4. VALUE CHAIN
INNOVATIONS
5. NEW DIGITAL
BUSINESS
MODELS
1.1 4th Industrial
Revolution
1.2 Our Connected
World
1.3 Power
of Social
1.4 Changing
Consumer
Behavior
1.5 More Change
Coming
1.6 Why Data
is King
1.7 Cloud
Crushes Costs
1.8 Insurance
Re-booted
2.1 Tech Trends in
Insurance
2.2 AI, Machine
Learning & RPA
2.3 Blockchain
2.4 IoT
2.5 Chat &
Voice
2.6 Immersive
Technologies
2.7 APIs &
Microservices
2.8 Tech Architecture
Best Practices
3.1 The Power
of Data
3.2 Python
Basics
3.3 Python
Intermediate
3.4 Data Visualization
& Example Tools
3.5 Machine Learning
3.6 D&A Use Cases
- P&C
3.7 D&A Use Cases
- Life & Health
3.8 Predictive
Modelling
4.1 Sales Tools for
insurance Agents
4.2 Underwriting
- Life & Health
4.3 Underwriting
- P&C
4.4 Product
Development
4.5 Service &
Administration
4.6 Claims
- Life & Health
4.7 Claims - P&C
4.8 Implementing
Value Chain
Innovations
5.1 Platforms &
Ecosystems
5.2 Microinsurance
5.3 On-demand
Insurance
5.4 Comparison
Sites
5.5 Peer-to-peer
& Community
5.6 Health &
Wellness
5.7 Commercial
5.8 Building New
Digital Business
Models
6. MARKETING &
CUSTOMER
EXPERIENCE
7. STRATEGY &
TRANSFORMATION
6.1 Data-led
Marketing
6.2 Direct Digital
Marketing
6.3 Digital Marketing
for Advisors
(O2O)
6.4 Power of
Content
6.5 Omni Sales
& Servicing
6.6 Customer
Lifetime Value &
Customer Advocacy
6.7 Customer
Experience
6.8 Out-of-industry
Use Cases
7.1 Why Strategy
Beats Execution
7.2 Regulations &
Ethics in a Digital
World
7.3 Transforming
the Old vs
Building the New
7.4 Partnership in
a Digital World
7.5 Change
Management as a
Discipline
7.6 Agile & Lean
Basics
7.7 Cultural Change
for a Digital World
7.8 How to Succeed
When Most
Transformation Fail
8.3
8.5
8.3
8.7
8.5
8.7
8.2
8.6
8.3
8.8
8.6
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8.4
8.3
8.3
8.5
8.7
8.5
8.7
8.4
8.3
8.6
8.5
8.7
8.6
8.3
8.7
8.5
8.7
8.5
8.9
8.7
8.6
8.8
8.7
8.5
8.5
8.3
8.7
8.6
8.6
8.5
8.6
8.4
8.9
8.7
8.7
8.9
8.4
8.6
8.5
8.7
8.5
8.7
9.0

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Poll
Q. How interested are you in virtual learning & development programs
on digital insurance?
Response options:
1. Yes - for me & my company
2. Yes - for me
3. Yes - for my company
4. No - I think we know enough in this space
Poll 4 – Interest in TDI Academy
Working together to accelerate the digital transformation of insurance
Next ADI Cohort starts 4th May

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Poll
Next TDI Webinar coming up
Working together to accelerate the digital transformation of insurance
https://www.the-digital-insurer.com/tdi-
webinars/
Digital Insurance in Israel
22nd April
1:00pm Israel

50. 52
Poll
TDI Webinars – Now available on-demand
https://www.the-digital-insurer.com/events/
Partnering for
success in a digital
world
L&D in a Digital
Age
Insights to Solutions
Digital Underwriting
Talking Insurance
Tech
Omni Advisor – The
Future of Agency
Digital Insurance in
Indonesia

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Feedback please!
Three ways
 At end of webinar using survey
 When you receive the recording link
 To TDI individually

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Contact Details
TDI Academy – learning for the digital age
Hugh Terry hugh.terry@the-digital-insurer.com
Simon Phipps simon.Phipps@the-digital-insurer.com
Gavin Li nipeng@bihubao.com
Jin Hua hejunhua@bxcc.vip
Randy Luo luoxiaoran@shuidi-inc.com
Donna Jermer donna_jermer@iptiq.com

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Thanks for your time!
(feedback please)
Digital marketing in china –
Compare contrast & learn?
18th march, 2021