Lunga Siyo the head of online business at Santam presented how to drive a traditional insurer online at the Digital Insurance in Africa Summit in Johannesburg in 2015

1. Driving Online Insurance Business
Presented by: Lunga Siyo
Aug 2015

2. Content
• Introduction
• Digital Insurance Trends
• Strategy Considerations
• Omni Channel impact
• Building and selling the business
case

3. Introduction
Online platforms have to be more than just a
pretty face,
they have to impact on business results for companies,
Digital channel should not just compliment brick and mortar but become
business channels themselves.

4. Introduction
Large traditional ST Insurance companies
• Are build on the intermediary business
• With multi products lines from general insurance to specialist products
• With a Direct Channel through phone, digital, referral, cross sell and upsell
opportunity exploitation
• With Significant Legacy Systems

5. Online Platforms
They are usual build to;
Reduce Distribution costs (Self Service Platforms),
Market (Digital Marketing) and
Sell products (eCommerce).

6. Digital Insurance Thrends
• Disruptive New Entrants and Innovative Incumbents
• Digital will become a boardroom topic (increased need for savvy senior
managers and eBusiness professionals)
• The gap will widen to those sleeping (Some companies have multitudes
of people designing implementing and operating digital customer touch
points)
• Digital will become much more transformational

7. Digital Insurance Thrends
• Internet is being used to create better online experiences through real
time provision of information
• Digital is being used to prospect, engage, convert/capture, retain clients
between purchasing and claim
• It provides freedom, interaction and share opportunities
• Smarter Devices will create cross sell and upsell opportunities (impacting
the role of agents and brokers)

8. Strategic Considerations
Commercial Strategy Structure & Process
Commercial Strategy Structure & Process
External
Market
Place
Online
Platforms
Internal
Processes
Traffic: Quality
& Volume
Leads to Sales
& Data

9. Customer touch point;
User experience,
Services & Products offered,
(quoting, get assistance, risk management tools, claims, etc )
Features that assist in decision making,(acquisition or a retention feature),
Features that assist in their daily lives (lifestyle),
Integration to your internal processes (speed),
Performance of your Platform,
Intelligence Gathering Capability
Things to consider for your Strategy

10. Things to consider for your Strategy
Technology implications;
An App to Support Fixed Internet Platfrom,
Compatibility with operating systems , iOS, Blackberry, Android, feature phones,
Mobile or tablets,
Emerging technology like responsive design,
Where your customers are and or future customers??
Decision matrix tree essential based on your objectives

11. Go to Market enablers
• Brand relevance & Online consumer advocacy,
• Integrated and call to action/engagement marketing activities
• Good quality traffic at a viable cost,
• Community/lifestyle platforms that integrates other market
place enablers such as social media based on shared lifestyle
interests with consumers,
• An ecommerce platform that resembles the best in the world
and ensure that customer purchase intent is fulfilled based on
superior user experience

12. Go to Market enablers
• Human centred design that focuses on;
– Client
– Most advanced yet acceptable design
– Needs focused, responsive, audience needs (Amazon suggest a book to buy)
– Simplicity
– Connect with customers emotionally
• Excellent customer experience at execution (from prospecting,
engaging to conversion)
• Integrity of management information that ensures that management
makes informed decisions

13. Benefits
• No self competition
• High usability
• High search rankings
(SEO)
• Quality leads
• Centrally coordinated
efforts
• Cost efficiency
• Cross sell/upsell
Online Platform strategy

14. Omni-Channel
Future

15. Building the buss case
A robust business case requires;
Mechanism to collaborate,
Decision to be based on real business priorities & needs,
Your framework should start with the CUSTOMER and not technology
One can use Forrester’s POST

16. Forrester's POST framework;
People
Strategy
Technology
Objectives
Analyze customer needs
Barriers
And get Stakeholder buy in
Determine your
approach to
meet objectives
Choose the
technology that will
enable you to
implement you’re
your strategy
Choose the
technology that will
enable you to
implement you’re
your strategy

17. Buss Case Framework
How will you deliver
Project Plans,
People, Tech & Process impact,
Skills gaps
Buss support processes
Crystalize Benefits
• Heavy impact on buss objectives
• Easy to do, risk, effort &
complexity
• Investment required and benefits
(ROI) (Growth) (Savings)
Vision
(Market, Acq & Retention fstrategy
Desired end state,
What it means for the Org, BU and
its impact on buss strategy,

18. Anticipate failure or avoid the ff
Lack of measurement
Establish clear metric to gauge
success
Ill defined objectives
This can result in wasted resources
Mobile
Customer Mismatch
(smart phone vs. dump phone)
Fear of making wrong decisions
Lead to no decision or indecision
which will result in slow to market
Putting technology first