How can financials transform customers into online customers

Author: Jeroen Starrenburg

Last updated: August 1, 2022

If you want to transform an insurance company into a digital player, you need to solve two mayor challenges. On the one hand you need to create great online services to delight customers and achieve your business goals. But none of these services will add any value if your customers don’t have safe and easy access to these services. So the second problem is, we’ve got millions of customers, but they don’t have an online account. So how do you get these customers to make an online account?

Let’s be honest, insurance isn’t a very sexy product. How many customers wake up on a day and say “I really look forward to create an account for my insurance today. I’m really looking forward to that”? But that’s almost like a catch-22 problem. Because insurers invest millions in online services. What we have learned from the past, is that customers are willing to create an account, if there is relevance. At DIA Munich, our product owner Sandra Pronk explained how we add relevance.

In the image below, you see a dashboard of the Onegini system. On the left you see all the offline customer of this insurance company. The goal is to get all these customers through the different steps of becoming an online customer ending up on the right. But the main question remains, how do you get all these customers online.

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Insurance companies are talking to their customers a lot through different channels. And as we mentioned before, you can only motivate people to create an account when they see the relevance. So what you see in the dashboard below are all the contact moments of the different communication channels. A these contact moments can be used as opportunities to seduce your customers to become online customers. But how does this work?

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At Onegini we do this by making personal messages relevant.  In the screenshot you can see the customer already received two messages and a new message is waiting to be used. If you look at the messages, you can see the customer did not respond to the first message about getting rid of all the paper communication. The system decided to send a second  message about never missing any updates about your pension, leveraging existing mail communication. Because the customer did not take any action till now, a next message is created based on customer behaviour.  This message will be used in any communication the customer will have such as letter,  email and even chat.  So the system is generating messages in an intelligent way and is thinking ahead and has already the next message ready for when the customer returns. But how does the system know which message it must send? It is all about making the context relevance. The more we learn about the customer, the more relevant we can make the message. For instance when the customer doesn’t contact his insurance company about his pension, but about a car insurance.

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When the customer contacts your company about car insurance, the system will recognize this, and change the subject of the upcoming message, so the content will remain relevant for the customer. Once the customer wants to create an online account, he should be able to do this right away through different channels. In the example above we use this easy flow for damage claims. But for other services like for instance financial products, they use the platform to configure a boarding flow providing a higher level of identification.  



In conclusion, by sending the relevant message on the right time and using existing communication channels you can see that you can convince all your customers to become online customers. Enabling you to benefit from all the great innovative products you see here today and realising your digital transformation business case!

If you want to see the solution live in action, or want to know how it can benefit you company, schedule a demo via the form below.