Presentation by consulting company Ensur about the shifting Insurance model. Financial Services Institutions have difficulties putting him there. What does the Phigital architecture look like?

1. Let’s Get
Phygital!
Moustapha Kharbouch
Comarch Conference
20.10.2016

2. The customer: more than ever in the center
The shifting insurance model
2

3. See below study of +10 years ago – have things really changed?
... but Financial Services Institutions
have difficulties putting him there
3

4.  See table: touchpoints used by the customer in the buying process have
increased dramatically – challenge for insurers to capture lead information at each
touchpoint!
 Still we know that the combination of physical and digital leads to higher
conversion rates.
 Even more, this winning combination applies to (nearly) the entire customer
journey
Physical channels still important while digital quickly becoming key
Phygital on the rise
4

5. Moments of truth = moments of pain
The Insurance Customer Journey
5
 Information overload
 Clear product definitions missing
 Difficult to compare – also for
intermediaries
 Unclear process
 Quotes difficult to compare
 Customer needs covered?
 Proposed agency = nearest. Also
best?
 Getting ID details (often double with quote)
 Providing additional information = paper!
 Providing & signing contract: manual & paper-based
(either direct or via intermediary)
 Unclear process
 Providing required documentation: manual & paper-
based
 Claim status = black box (also for intermediary!)
 Lack of pro-activity by insurer c.q.
intermediary
 Cumbersome process due to lacking
consolidated customer info
 Often unpleasant surprise for customer
(payment less than expected)
 Process = cumbersome, manual (checks!),
paper-based
 Little added value by intermediary
 More paper?!
 What about readability?
And regulation is not
helping much either!

6. Good news: you only have to do 2 things to realize the phygital promise
1. Capture customer information at each touchpoint – following
customers through touchpoints – and direct him to the right
intermediary
2. Providing intermediaries with the tools allowing him to turn leads into
contracts (and even more than anticipated – cf the 90 days rule for
cross- and upsell)
3. (we conveniently forget the necessary increasing of responsiveness in
the typical insurance back-office – something for a next seminar ...)
While thinking about your intermediaries
Turning customer pain into pleasure
6

7. A true story:
What do you want? No seriously, what do you want?
Requirements requirements
requirements
7

8.  Which data do you want to capture
exactly? What do you want to do with
them exactly? Where will they be
stored?
 What will your lead conversion, pre-
sales and other applicable processes
look like? Who will do what exactly?
 What functionalities should supporting
tools have exactly?
The utmost important document that is often not there ...
The Requirements Catalogue
8
Functional Non-Functional Technology
Implementation Legal & Procurement
Key dimensions Aim for the best, prepare for the worst
 Sourced from different stakeholders –
including customers & intermediaries
 Don’t forget Compliance
 Involve IT from the beginning
 Have requirements formally validated
 And as from then: apply a strict CR
process

9. Ensuring the alignment of business requirements & IT architecture
The Phygital Enterprise Architecture
9
Insurance Customer Journey(s)
Starting from the processes

10. LAC Customer Salary Administration
Ensuring the alignment of business requirements & IT architecture
The (Phygital) Enterprise Architecture
10
Business Architecture
Application Architecture
Data Architecture
Technology Architecture
IT Architecture
Enterprise Architecture Customer
Identification
Needs Analysis Product Advise
Simulations &
Offers
Deal Closure
Sales
Process
Business
Functions
Enter Customer Data
Search Customer Data
Get Customer Data
Check Access Rights
Enter Needs Analyisis Data
Enter Risk Profile Data
Get Needs Analysis Data
Get Risk Profile Data
Calculate Net Salary
Calculate Pension Gap
Enter Simulation Data
Get Existing Contract Data
Enter UW Data
Generate UW Docs
Perform Indexing
Transfer Data/Docs to BO
Application
Services
Sales Application
Enter Customer Data
Search Customer Data
Enter Needs Analyisis Data
Enter Risk Profile Data
Calculate Net Salary
Calculate Pension Gap
Enter Simulation Data
CRM Solution
360° View
Get Customer Data
Get Needs Analysis Data
Get Risk Profile Data
Get Existing Contract Data
Data & Document Trfr
Perform Indexing
Transfer Data/Docs to BO
Territory Mgmt
Check Access Rights
Application
Data
Calculate Net Salary
Logical
Application
Component
(LAC)
Physical
Application
Component
(PAC)
Fiscal DataSalary Data
Fiscal Data
Salary Data
Cluster application data and application services into a logical
application components (LAC)
Logical application components are
clustered in a Physical Application
Component (PAC)
LAC Customer Risk
Profiling
PAC Manage Customer Pre-Sales data
LAC Calculate Net Salary
LAC Customer
Needs analysys
LAC Customer Risk Profiling
LAC Customer Risk Profiling

11.  Do a vendor selection including your own IT department
 Start from your Requirements Catalogue to assess candidates against different
criteria
• Functional
• Non-Functional
• Technology & Infra
• (Post) Implementation
• Legal/Procurement
 Ask candidates to indicate to which extent they meet each requirement & give
an effort estimate for closing each gap.
 Prioritize & weigh your requirements. Decide upfront which requirements – if
not met – are showstoppers!
... Or buying it?
Building your solution ...
11

12.  Big bangs are often smaller than expected.
 Give users new functionality quickly & regularly.
 Take an example from other industries: apply prototyping in pilot groups.
Rolling out the solution
Think phases
12
Digital
Transformation
Channel
integration
Direct Sales
Self Servicing
Business
Intelligence &
Reporting
Marketing &
Campaign
Management
Process
automation
Task & Agenda
Management
Customer 360°
view
Underwriting
Product
simulations and
quotations
Customer Needs
& MIFID Process

13. Ensur’s yearly plea for sufficient attention to Change Management
“Nothing human is alien to me”
13
Old Organisation + New Technology = Expensive Old Organisation

14. Well ... almost
EVERYBODY happy!
14
customer
intermediary
Insurance
company
competition
regulator

15. 15
QUESTIONS?

16. 16
Moustapha Kharbouch
Project Manager
Koningin Paolaplein 11/6
1083 Brussel | Belgium
T +32 (0)493 24 04 25
Moustapha.kharbouch@ensur.be
info@ensur.be
Contact