CUSTOMER CENTRIC INSURANCE
See the life. Not just the policy.
Insurance driven by data and guided by your customers
Insurance Innovators Summit | 16-17 November 2022
Insurance Innovators is bringing together a global community of 850+ insurers, from the most innovative incumbents to the freshest insurtechs, to define the future of the industry.
There’s more to customers than just their insurance policies.
We help you harness the power of AI to give you a complete picture of your customers, letting you embrace customer-centricity like never before.
The insurance landscape is changing. Fast.
Powerful forces are re-shaping the insurance industry and impacting your business.
These are biggest the trends and challenges.
Fighting fraudsters
Take proactive steps to protect genuine customers, investigate fraud more effectively and deliver a seamless customer experience. Cancel more fraud at a lower cost.
Changing regulations
Regulation doesn’t stand still. The need to adapt is ever-present, with FCA changes coming to pricing strategies, underwriting, financial reporting, stress testing, scenario analysis – and much more.
Digital transformation
Insurers know they need to modernise.
But with margins razor-thin, they need to do more with less.
Digital channels and automation are needed to reduce costs and boost customer experience.
IFB & SAS: Beating Insurance Fraud Together
Digitalisation, automation and product innovation is rapidly impacting the insurance industry. As a result, new types of fraud arise.
People’s appetite for new insurance products change faster than ever and they expect services to be delivered in real time. Application fraud is a great example of how changing industry practices impact how fraudsters operate.
IFB and SAS work in partnership to help bring the insurance industry together to share key data and intelligence management for a collective purpose: Tackle fraud and protect genuine customers from fraudsters.
How we’ll help you become customer centric
Make the move to a model that helps you better understand your customers.
Here are 5 ways SAS gets you there faster.
See the real customer and offer personalised pricing
Slashing coverage to achieve a cheaper offer can sometimes seem like the only chance of success, but at what cost consumer confidence? SAS applies machine learning to uncover your customers’ true sentiments and preferences. Get to know your customers better, respond faster, and give them a better service. Read our spotlight paper, ‘The Future of Pricing’ to learn more.
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Drive growth with engaging customer experiences
Use artificial intelligence to better inform the millions of decisions made across your enterprise. The result? You can provide your customers with a personalised, consistent customer experience. Process insurance claims faster and respond to customer requests with even greater agility.
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Fraud detection & Investigation
Cut costs with fraud detection and investigation decisions based on trusted analytics. Get smart in the fight against insurance fraud by harnessing data to predict and prevent events. We help insurers take proactive steps to protect their customers, using an end-to-end solution for detecting, preventing and managing both opportunistic and organised fraud across multiple lines of business.
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Beat your competitors through digital transformation
With a single analytics platform for consolidating and interrogating every piece of data, you can go beyond policies and premiums to get a real view of customer behaviour. It’s about predicting and understanding customer needs as they evolve and proactively responding to them.
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Stay compliant and get ahead of regulatory reporting
With IFRS 17 on the horizon, the insurance industry needs to up its game. Now’s the time to finally align finance, model risk management, actuarial and regulatory compliance to reduce complexity and get a handle on governance. Make sure you’re up to speed ahead of the 2023 deadline with our essential IFRS 17 survival guide.
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Customer success stories
SAS has helped insurance industry clients improve their pricing strategies,
enhance customer experience, prevent and investigate fraud, boost digital transformation and
solidify their regulatory and compliance reporting.
Here are some of our client stories
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How do you personalize customer service and deliver more targeted marketing campaigns?
Discover how ERGO Insurance Group centralizes CRM so all brands function as one and offer aligned with customer needs and preferences.
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How do you ensure a consistent customer journey in a digitized business reality?
Discover how Topdanmark ensures a seamless experience for customers with a true omnichannel marketing approach and better workflows.
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Daiwa Securities
How can insurers increase pricing accuracy and ensure the right products are being offered?
Daiwa Securities use AI to make sure branch and call-centre staff have a full understanding of customers. They can predict their needs, and make every interaction personal and worthwhile, reducing customer churn by 50%.
SAS in Insurance – Facts & Figures
>1,400
insurance companies are using SAS worldwide
90%
of insurance companies in the Fortune Global 500 rely on SAS
47
number of top 50 largest global insurers relying on SAS
Request a demo
SAS analytics, enriched by AI and machine learning tools, help you become a truly customer-centric insurer. Discover the transformative power of SAS today. Get started
From the blog: Our take on customer-centric insurance
Read our blog series to hear the thoughts of Paul Ridge, Head of Insurance, SAS UK&I and the rest of the SAS insurance team on how we can use analytics to change lives and become customer centric.
How insurers can enter the era of customer eccentricity
Innovation is changing the way we live – yet the insights insurers need to adapt to this new way of life are hidden from view. This blog post, written by Paul Ridge, explains how to unlock these critical data points.
Why analytics alone can’t deliver customer-centric insurance
Analytics and AI have the power to prepare insurers for a customer-centric future. But, as Paul Ridge explores, most insurers have the wrong approach to analytics. Find out why in this thought-provoking post.
5 ways insurance will change by 2025
General insurance will look very different come 2025. The big question becomes whether firms are ready to face up the challenges and opportunities that lie ahead.
Take your next step towards customer-centricity
Find out how SAS can help your insurance business stay competitive and relevant in an increasingly
data-driven world.