Making Contact Center operations easy through Big Data

Transcription

1 Making Contact Center operations easy through Big Data 26 March 2015 Chapman Lam - Regional Director, Customer Experience Hongjuan Liu - Regional Director, Customer Analytics & Behavioral Insights aegonmarketing.com

2 Common pain points: Handling and preventing customer complaints Achieving service levels with insufficient resources and budgets. Inconsistent customer experience across various channels. Threats from off-shore competitors. Determining the right time to crosssell/up-sell. 2

3 Big Data driven Contact Centers Making it easy! Ability to focus on the customer and make it easy for them to do business with you Improve operational efficiency by finding ways to make doing business easy Propensity to predict and prevent customer complaints 3

4 Case study Japan: Background Aegon Japan Business Challenge A leading direct insurance marketing consulting company in Japan Partnering with 50+ credit card companies and contacting 5+ million customers annually Developing analytics capability to optimize performance and minimize risk Some of the corporate partners were very concerned about customer complaints caused by outbound telemarketing calls 4

5 Case study Japan: Exploratory Data Analysis Either male or female Meet the individual who is more likely to complain A resident of cluster housing Under the age of 45 Single High income earner and lives in a big city Have been called many times before 5

6 We scored the population and ranked them Case study Japan: Predictive Model 6

7 Low Propensity to Buy High Case study Japan: Model Application Taking the application of propensity modeling to the next level Target Consultative selling by top TSR s Different Product Avoid Low Propensity to Complain High 7

8 Big Data driven Contact Centers Making it easy! Ability to focus on the customer and make it easy for them to do business with you Improve operational efficiency by finding ways to make doing business easy Tailor made data platform and processes to deliver a consistent customer experience across channels Propensity to predict and prevent customer complaints 8

9 Challenges faced by old world Contact Centers: Inefficient operational processes and inconsistent customer experiences Inefficient (manual) operations process Inconsistent customer experience 9

10 Addressing Contact Center challenges: Optimizing efficiency and creating consistent customer experiences Customer Contact history Policy/service transactions 10

11 Through a Big Data approach Contact Centers add more value and become profit centers, with: 23% less complaints 70% more revenue generated Better customer service 11

12 Contact Center operations moving off shore 12

13 Transform Your Cost Centre into a Profit Center 13

14 14 Diversifying product distribution Insurance and its contribution to customer loyalty Cross-sell as a contributor to customer loyalty

15 Insurance products are contributing to increasing customers loyalty with their bank An extract from a survey of credit card issuers across Asia Pacific between shows: Customer loyalty measurement Average monthly statement balance Change in customer behavior over a one-year period % Average monthly retail spending % Card attrition rate -30% 15

16 16 What is the best time to cross-sell?

17 Active policies (one product) Optimizing contact strategy: If a second product is purchased, we see improved persistency after six months. Months between 1 st & 2 nd product purchase no cross sell Months between 1 st & 2 nd product purchase 17

18 Speech analytics Voice to text transcription Keyword identification Emotion detection Text mining Quality assurance focus Service and marketing opportunities 18

19 As a part of the Aegon Group, we are passionate about our mission: We exist to help people take responsibility for their financial future. Aegon means global strength and security: 19 Ratings are applicable to Aegon N.V. only. They are not applicable to ADAMS.

20 20 Our success at Aegon is driven by our philosophy that the customer always come first.

21 Thinking of big data driven contact centre? Create a deeper relationship with your customers through simple and accessible protection products. Chapman Lam Customer Experience Architecture ADAMS Asia Pacific Chapman.lam@adms-asia.com 21