Leading Life
INSURANCE AGENCY
IMPROVES CX WITH
INDIVIDUAL-LEVEL INSIGHTS
Case Study
WHO?
CSG spoke with the director of customer experience at a large, legacy life insurance company that has more than 10,000 global employees, is ranked 100 in the 2022 Fortune 500 and manages more than $300 billion in assets.
Company leadership wanted to better understand the customer experience (CX) by taking a data-driven approach to customer journey analytics—both to improve CX and to increase crossand up-sell opportunities. Mark Smith, senior vice president of customer experience at CSG, spoke with a representative of the organization about positive business outcomes stemming from the partnership. The conversation offered several tips other company leaders can use to start tapping customer data to improve CX—and the bottom line.
WHAT?
IMPROVES CX WITH
of executives who invested in tech can link improved CX to better business results.
SURVEY
The company decided to begin with the acquisition journey, one of the most complicated journeys within the organization—offering more than 400 product and system options. “We selected this journey due to the importance of our corporate, brand and marketing goals to increase our policy owners and customers,” the leader said. “We're about six months live at this point, and we are seeing some really, really great results.” This partnership with CSG is “increasing the number of consumers who become customers, reducing costs and improving experiences for our users.” The company has now begun deploying an additional journey through another distribution arm.
CASE STUDY
of CX executives don’t know where to get started using customer journey analytics to improve CX.
SURVEY
By 2019, company leadership had decided that “our traditional methods of understanding customer journeys were just not getting us where we needed to go. So, we really started thinking about how we could explore and use data to drive better business outcomes across our customer acquisition experience,” the company leader said. “We also had our employees coming to us and saying, ‘Hey, we want to do more to impact all of our customer experiences out there.’”
CASE STUDY
of executives struggle to break down internal data silos to gain a holistic understanding of the customer.
SURVEY
“Early on, we knew that communication across divisions and our functional teams was going to be paramount to our success,” according to the leader. The organization engaged roughly 50 stakeholders across various departments to address concerns and ensure all parties felt they “had skin in the game in order for us to be successful.” Another strategy: the life insurance company “developed a common and agreed-upon language for journey analytics” as a way to create a shared understanding within the organization.
CASE STUDY
have recently begun investing in tech to drive improvements in CX.
SURVEY
By working with third-party analysts, the team determined which capabilities were needed and which vendors excelled in that space and could meet the company’s needs. The company submitted two requests for proposals (RFPs) because the first partner wasn’t a good fit. “But it was actually a good thing,” the leader said. “The second time we did the RFP we were so much smarter; we had a deeper understanding of the capabilities, the business needs and our use cases.”
CASE STUDY
of CX executives don’t know where to get started using customer journey analytics to improve CX.
SURVEY
By 2019, company leadership had decided that “our traditional methods of understanding customer journeys were just not getting us where we needed to go. So, we really started thinking about how we could explore and use data to drive better business outcomes across our customer acquisition experience,” the company leader said. “We also had our employees coming to us and saying, ‘Hey, we want to do more to impact all of our customer experiences out there.’”
CASE STUDY
of executives who invested in tech can link improved CX to better business results.
SURVEY
The company decided to begin with the acquisition journey, one of the most complicated journeys within the organization—offering more than 400 product and system options. “We selected this journey due to the importance of our corporate, brand and marketing goals to increase our policy owners and customers,” the leader said. “We're about six months live at this point, and we are seeing some really, really great results.” This partnership with CSG is “increasing the number of consumers who become customers, reducing costs and improving experiences for our users.” The company has now begun deploying an additional journey through another distribution arm.
CASE STUDY