At the heart of digital change in insurance are three key drivers - the need for transformational infrastructure; advances in customer experiences; and new ways to communicate with clients, customers and intermediaries, says Mr Jason Sadler, President of Cigna's International Markets business.
He shares Cigna's experience in this month’s Asia Insurance Review, providing examples of how digital innovation has been a catalyst for an entirely new customer experience, especialy in Asia where six of the world's top 10 countries for social media are located. Today, customers have access to more information than ever before, using social media and online sites to compare policies, prices and claims.
Digitising and mobile infrastructure
Digital technology is helping to optimise operations by trimming redundant and manual processes, while speeding up turnaround times and reducing error rates.
Specifically, pre-purchase, purchase, servicing, renewals, claims handling and management, payments, and customer feedback and resolution will become digital first, followed by other functions later.
Through enhanced platforms and systems, Cigna can approve selected claims more speedily; reducing the number that need to be handled manually. The introduction of globally consistent processes and data capture will also improve the experience of clients and their providers. Improved turnaround times means teams can focus on where they can truly add value and make an impact for customers.
For the 130.5 million smartphone users in Indonesia, Cigna has improved their customer experience by launching a mobile responsive site.
Data gives deeper customer insights
The second driver of digital innovation, says Mr Sadler, is a better understanding of consumer behaviour and priorities through analytics, to help design appropriate offerings and experience.
New analytical insights offered by mining the vast amounts of data generated in insurance can also open-up fresh commercial possibilities. This is not just for risk prevention but helps use deeper knowledge of customer needs to provide a broader and more targeted range of products, services and solutions.
Socialising communications
Third, social media, as a catalyst for efficient and effective communication and interaction, is a natural platform for providers to improve their connection with customers. Social data is rich with ‘life events’ and other information that can help insurers provide more personalised and relevant benefits.
Insurers have a tremendous opportunity to promote branded and neutral content. Many firms are using Facebook, Instagram, LinkedIn and Twitter, plus more local platforms such as Sina Weibo in China and KakaoTalk in Korea.
In Indonesia, Instagram and Facebook activities have been particularly successful platforms for Cigna, helping in engagement with audiences. Two of its user-generated, content-based campaigns further generated more than 900 stories on social media posted by active participants with a further 56,000 responses, through a series of activities like giveaways and partnerships with a quiz-listing portal.
In Hong Kong, Cigna uses its 10,000 following Facebook account to engagewith customers on topics of interest to them, such as general health and well-being, healthy recipes and how to get a good night’s sleep.
In China, Cigna & CMB used WeChat for an online survey with over one million policyholders to gather their opinions on how to improve the overall process.
In New Zealand, Cigna’s #STEPITUPNZ is an online community which integrates a content rich website, Facebook group and a Strava running club app, where members share achievements in running. Cigna New Zealand also uses Facebook and Instagram for competitions and campaigns for lead generation with through engagement with existing and potential customers.Meanwhile, the firm's GrownUps, a community for the silver age, has more than 80,000 members and attracts the highest percentage of people aged over 50 of any website in New Zealand, with up to 100,000 unique visitors per month.
In Korea, Cigna company LINA Korea launched Heyday, the first 50+ health and life care membership programme in Korea, attracting over 1.24 million members.and provides content, through diverse digital channels and a monthly print magazine.
Apps
The use of apps has also been effective for Cigna. In India, Cigna TTK offers its ‘Get ProActiv’ tracking application by connecting it to wearable devices. Healthy Reward points are earned by completing physical activities and can be redeemed to receive discounts on their health insurance premiums or to add extra benefits to customers’ plans.
In China, Cigna & CMB introduced ‘TangWuYou’, a health app specifically for diabetes patients, and Cigna will soon introduce a ‘next generation’ healthcare app with a virtual health team to help customers manage health on the go.
Digital for distributors
Mr Sadler adds that digital communication is not just for customers, it is also for intermediaries such as agents and brokers.
It is a natural progression for insurers to increase their investment in the digital infrastructure and communication space. Major trends such as rising cases of non-communicable diseases, the global ageing population, and a greater focus on well-being, are meeting technology head on. We may now be at the inflection point where technology can help us address these key needs by providing better access to healthcare for everyone, he says..