We know that data enables us to get to know our customers’ needs better and therefore offer bespoke products and a more personal service. We also know that the latest technology can get us there faster. So we have several initiatives helping achieve these goals. Within this, our work is underpinned by a robust data management framework, reassuring our customers that we’ll always do the right things in the right way.
Here’s a showcase:
Personalised product offerings:
By analysing customers’ buying history, we’ve been able to develop intelligent marketing models including ‘Propensity to Buy’, ‘Propensity to Churn’, and ‘Next Best Offer’. The result is improved accuracy and incremental conversions. We’re currently using this technology across several of our markets.
Testing has now shown that we can reduce the claims assessment time to around five minutes (from the traditional model of 1-2 days). In Hong Kong we’ve developed technology to detect claims fraud in real time, improving our auto-approval rate.
In 2019 we launched Customer 360 (C360) at our call centre in Hong Kong. This gives a real-time single-view dashboard of customer information – from buying history to claims data. We also launched a C360 dashboard for our telesales team in Thailand. This includes prompts for ‘Next Best Offer’ – showcasing our bespoke offerings with a more personal touch.
We’ve set up a Data Governance Steering Committee in each of our markets, guided by a set of core values to ensure the work we do is not only compliant with laws and regulations but also fully accessible and transparent to our customers.