Financial institutions & insurance companies in the balancing act between regulatory measures, pandemic and digital transformation.
Even if financial service providers and insurance companies came through the crisis comparatively well, it did not leave them without a trace. The digital transformation was forced to advance in the industry at record speed. Digital services have temporarily replaced branch visits – which does not mean that these are no longer important for your customers! Trust, personalization, customer service and efficient data collection all contribute towards one goal: to focus on your customers. To do this, you need to further expand your digitization strategy and say goodbye to paper forms.
This is the only way to keep existing customers and attract loyal new customers!
Digital, individual, networked: your new service
The future-proof bank and the insurance company of tomorrow must offer perfect customer service and seamless 24-hour customer service. A mobile banking app or the online retrieval of current insurance is no longer enough. Because your customers want all-round support that is individually tailored to their needs. Tailor-made insurance packages and personalized loan offers are just the beginning of a digital financial revolution!
Banks & financial service providers
Build lasting customer relationships
Even if your customers are fans of online banking, the personal, the “human touch” should not be missing. Personalized offers promote the trust of your customers even in times of crisis. Accompany them in every life situation and send the right message at the right time.
Individual support is essential. Meet the different needs of your customers and adapt to their respective personal situation for tailor-made advice that results in long-term customer loyalty.
More sales by taking advantage of upselling opportunities
Get insight into the accounts and
assets of individual customers and households in order to be able to offer relevant products and services for their needs. In a clear console, up- and / or cross-selling opportunities and meaningful insights are available in one view.
Since acquiring new customers can be considerably more expensive for you than doing business with existing customers, up- and cross-selling techniques are an efficient way of increasing your sales revenue.
Increased efficiency through time savings and automation
The competition from purely digital or more digital banks is steadily increasing. Therefore, you shouldn’t bother with tedious topics like document tracking and approval processes. This is exhausting and not efficient for both your employees and your customers.
So simplify the collection and filing of
Documents by configuring your approval process and thus increasing the traceability of the approval status. Misunderstandings and queries are avoided. And you have more time for the important things.
Always & everywhere convince with excellent service
In times of pandemics, closed branches drove the digital transformation of banks forward quickly. Digital services were brought into shape and expanded. Also offer digital video advice with the respective advisor! Because excellent customer service goes far beyond a telephone hotline. Long response times and a cumbersome, complicated exchange are knockout criteria. You have to anticipate that!
AI tools such as chatbots support you in this. With the right technologies, 24-hour support, in which your service staff only has to intervene in more complex inquiries, is no longer a melody of the future, but will soon become a reality.
Sensitive data require special measures
Money has always been a sensitive issue. There is probably no other industry that shows this as strongly as yours. The trust of your customers must be stable at all times in order to avoid churn. You should therefore introduce additional security standards that protect sensitive customer data.
Tools for monitoring, auditing and securing such data (such as Salesforce Shield) help streamline compliance and governance initiatives that open new doors for you to innovate in the cloud. Salesforce Shield therefore offers advanced protection, monitoring and storage of your critical data stored in Salesforce.
Use case for banks
Fidor Bank success story
Focus on data security and transparency: international multi-cloud implementation for smooth processes in a cross-departmental solution. As an internet-based direct bank, Fidor Bank addresses both private and business customers with the Fidor Smart current account. The digital processes from sales, service and marketing were bundled and optimized on a single platform – including a uniform information database for all employees and locations!
More is really more here – get to know your policyholders
As the insurance of tomorrow, you depend on meaningful data. Because insurance is based on empirical values and probability calculations. In particular, data on the life situation and the behavior of customers are of interest to you, for example when paying out or checking claims.
With a data-based way of working, you automatically guarantee better service that makes your customers happy. The right tools will help you collect and analyze this data. Another consequence of the data collection is the creation of personalized offers, such as tailor-made insurance packages!
The insurance console for a 360-degree view
With the so-called Agent and Customer Service Rep Console, especially for the insurance industry, you always have a real-time Overview performance indicators, informative information and activities about all touchpoints of every policyholder, his/her marital status, policies, claims, amounts insured, life phases, business goals and more.
Access to data on current policies and claims also enables your insurance agents to guarantee seamless customer service and recommend the appropriate coverage levels.
Make sure you keep existing customers
AI technologies can intelligently help your insurance brokers and team leaders improve their results. Thanks to ready-made analyzes, employees can evaluate the duration of the customer relationship and the risk of churn in order to increase loyalty through appropriate measures. In this way, you always send the right offers at the right time.
Sales managers can analyze product penetration, perceive growth potential in their own areas and achieve an expanded range of advice and services.
Use case insurance
Ottonova success story
Ottonova as a pioneer in the digital, private health insurance of tomorrow: To ensure maximum data security, the data silos were dissolved. The migration of sensitive customer data was implemented securely using encryption and now allows automated processes in one system. The result is a uniform database with a high security standard and transparent processes.