Customer Lead
Generation from
Digital Channels
for Insurance
ByDr. Jai Ganesh
Customer Lead Generation from Digital Channels for Insurance Mphasis 3
Contents
Introduction ...4
Innovation-driven Integrated Digital Customer
Analytics ...5
Comprehensive, Accurate, Real-time and Actionable
Customer Leads ...5
Insurance Industry Specific Taxonomies ...5
Digital Social Lead Score by Integration of Social,
Customer Lead Generation from Digital Channels for Insurance Mphasis 4
Introduction
Digital channels facilitate content, collaboration and commerce via peer-to-peer connections. These channels can foster
knowledge sharing and collaboration among participants and can lead to aggregation of highly influential content and ideas as well as the emergence of key influencers.
Given the increasing trend of customers leveraging digital channels for knowledge exchange, product and service comparison and purchases, it is imperative for insurance companies to engage with customers across various social channels such as social networking destinations, discussion forums, blogs, etc.
Insurance companies have been quick to recognize the benefits of online social networking destinations (e.g. Facebook, LinkedIn, Twitter etc.) to monitor customer conversations, identify trends and customer sentiment with regard to their products, operations and services. They also use social media to build customer relations and collect market intelligence. But what many players miss out is the opportunity to leverage these destinations for making a sustainable
impact on their revenues.
Social Analytics leverages Big Data Digital Customer
Engagement Analytics techniques that transforms enterprise decision making by providing the most comprehensive, accurate, real-time and actionable customer engagement insights across millions of customer data points. Social Analytics provides real-time monitoring of customers and customer networks across various digital channels.
Many Insurance Companies Miss Out on the Opportunity to Leverage Social Media for Making a Sustainable Impact on Revenues
Customer Lead Generation from Digital Channels for Insurance Mphasis 5
Innovation-driven Integrated Digital
Customer Analytics
Social Analytics enable insurance companies to conduct integrated digital and social customer analytics across
millions of customers and customer conversations, and provide actionable insights.
• Enables enterprises to innovate and make strategic decisions by having a continuous barometer of customers, social networks, customer sentiment, micro-segment customers etc.
• Facilitates insights driven anytime anywhere customer engagement
• Collect, measure, analyze and generate insights from customer conversations
• Transform speed of response for customer issues
Comprehensive, Accurate, Real-time
and Actionable Customer Leads
Social Analytics helps insurance companies in improving their digital lead generation by providing the most comprehensive, accurate, real-time and actionable customer engagement insights across millions of customer data points.
• Superior contextualization through intelligent analysis and super imposition of people, places and emotions • Features for digital lead trend measurement
• Advanced customer network analytics • Real-time competitor intelligence
• Analyzing textual content and unravelling Sentiment, Intent and Emotion
• Customized analytics by combining varied open and linked data sources with enterprise data silos
Insurance Industry Specific Taxonomies
Social Analytics can be enhanced with insurance industry specific taxonomies, which provides highly accurate analytical insights to decision makers.
• Extensive repository of insurance industry taxonomies and dictionaries, enrich the context of the insights
• Insurance industry linked innovative features such as key influencer analysis, conversation velocity and virality, brand advocates/detractors, 360-degree customer engagement,
Actionable Insights
Customer Lead Generation from Digital Channels for Insurance Mphasis 6 information intensity, information entropy, information impact, celebrity scores etc. can be key differentiators
• Advanced algorithms leveraging analytics techniques such as predictive analysis, applied linguistics, critical discourse analysis corpus linguistics and neural networks enhance
the accuracy of insights
• Intuitive user experience with the shortest number of clicks to results, coupled with advanced visualization techniques is essential for end-user adoption
Digital Social Lead Score by Integration
of Social, Temporal, and Psychographic
Profile of Customers
Social Analytics leverages a new and innovative approach to the problem of generating digital leads by leveraging predictive analytics towards segmenting and creating a unique and
comprehensive view of the customer and customer groups, so that they can be converted into digital leads. Social Analytics identifies the right variables across digital channels and has a sophisticated digital lead generation based scoring mechanism using a combination of user-shared data, group behavior and psychographic profile.
• Individuals who are part of digital networks form
communities with common interests, and observing their temporal changes allows insights generation into the profiles of the individual
• Predict, segment, and create a unique and comprehensive view of a customer and/or customer groups as evolving social structures, by understanding user behavior on social networks thus tracking fluctuating individuals’ social interactions over a period of time
• Identification of unique users by combining individual’s participation data over a plethora of social networks through the lens of communities, and tracking the changes in the individual’s interest patterns of social interactions over a period of time, based on social network interaction data that allows to identify, profile, segment and target users and profiles
• This method enables design mechanisms and incentive schemas for application areas such as loyalty management, customer reach, targeted messaging etc.
Role of Social Analytics Digital Channels
RIghT VARIAbles
About the Author
Dr. Jai Ganesh, Head, Mphasis Next Labs
Jai is a Product and Service Innovation leader with extensive experience in inventing, conceptualizing, building, commercializing and monetizing successful product and service innovations across SMAC (Social, Mobility, Analytics & Cloud) areas. He has experience in research, innovation and go-to-market for products, platforms and solutions, technology strategy, intellectual property creation, thought leadership and service practice development. Jai has extensive experience in patents, research grants, global academic collaborations and building world-class partner eco-systems. He conceptualized and led the development of the world’s first patented product for Web Accessibility Assessment and Remediation. Jai has four granted patents, over twenty patent applications and has published in a number of leading peer-reviewed journals and conferences.
Jai obtained his PhD from Indian Institute of Management Bangalore (IIMB) and also holds an MBA. He was one of the twelve leaders selected for the Chevening Rolls-Royce Science and Innovation Leadership Programme at the University of Oxford. Jai has been featured in the Marquis Who’s Who in the World from 2008–2014.
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