Creating a competitive advantage through a robust digital strategy that is fully aligned with the business.
In recent years, society as a whole – and policyholders in particular – have changed greatly in terms of their needs and requirements. This means we must adapt the way we serve them and do so in a completely different way.
Digital transformation is no longer an optional choice to aspire to. It’s an urgent necessity. In the insurance sector, a positive customer experience impacts a company’s ability to compete in an increasingly demanding and competitive market. That’s why this insurance company decided that digital transformation should focus on the customer experience.
Challenges in the insurance sector
PSN is the mutual insurance company for university professionals. They provide a completely comprehensive service that goes beyond life, savings, retirement, house, car and multi-risk insurance policies to offer personal and professional protection at every stage of an individual’s life.
The ultimate goal is to place the customer at the heart of every process, offering them the highest quality products and services to guarantee an unbeatable customer experience – no matter how or why the customer contacts the company.
A 360o view of the customer allows us to understand each individual better, and so offer them products and services that are completely suited to their needs.
Digital strategy & business strategy
PSN has implemented a hybrid suite of the most innovative solutions available. The solution consists of several technological components, including the omnichannel marketing platform, Acoustic. To manage the customer relationship, PSN uses SugarCRM – a data hub that centralises customer information and equips employees with the tools they need to perform their daily operational tasks. Finally, Zendesk has been implemented as an omnichannel solution for managing customer service.
These three technologies are integrated under an SOA strategy, and provide the most innovative solution for driving the company’s digital transformation forward.
“We firmly believe that digital transformation is not an option, but a necessity for the survival of all companies – perhaps even more so in the insurance sector. Insurance companies have traditionally been more conservative in this regard, but are showing good signs of progress“.
Cristina García, CEO of Grupo PSN
The impact on business
The most important impact is on customer experience, which in turn adds even greater value to the product.
“We chose redk based on their ability to ask the right questions at the right time, and the extreme care they took to understand exactly what we wanted and needed.” When customer data is unified in a single digital platform, this makes it possible for employees to understand the current status of policies, the actions required to renew them, the history of commercial actions and incidents related to a customer, as well as their policies, payouts, financial activity, and so on.
In turn, all of this information is available in the data analysis platform and can be used to understand the commercial behaviour of customers, the different segmentation groups, the potential for churn and other indicators such as NPS, RFM and CLV.
2020 has seen the PSN Group achieve another year of steady growth and expansion within Spain’s insurance market.