Customer Journeys for Wonderful Life Insurance Company Customer Journey Maps Customer Journeys for Wonderful Life Insurance Company Follow the story of Audrey as she guides her firm through the successes and challenges of Digital Transformation https://jonscheele.com/the-butterfly-a-digital-transformation-journey

Customer Journey Model Discover Evaluate Buy Experience Renew or Leave Advocate The customer journey is a progression from being unaware, through awareness and evaluation, purchasing insurance or an investment product, and post-purchase experience. Each stage of the customer journey is an opportunity for the firm to deepen the client relationship and deliver value. Note that the firm doesn’t own all the customer touchpoints. Wonderful Life markets directly to customers through its own channel, web site, advisors and contact centre. Its products are also distributed by independent agents, bank partners and affiliates (mostly membership-based organisations providing value-added services to their members). Source: Independent Insurance Agents & Brokers of America, http://bit.ly/2qPHXlT

The Omni-Channel Customer Journey The customer journey can take several paths. It is determined by: The customer’s goals and aspirations Changes in the customer’s needs as they progress through life stages The sources of information they seek and their preferred touchpoints for interaction The firm must therefore establish organisational capabilities, processes and systems to support the customer through multiple possible paths. This requires the ability for each touchpoint (human or machine) to be aware of prior interactions and the customer’s stated goals. Source: Strategy Meets Action, “The Insurance Customer Journey in the Digital Age”, http://bit.ly/2rsWDEN

Customer Journey – Discover Phase Activity Search “Find an Agent” Social Media Personal Contact Action Prospect searches online for local or specialist agent “Find an Agent” on own or partner web site Prospect looks for recommendations and/or views in social media Friends, relatives, co-workers Response Improved Search Engine Optimisation, publish content Complete agent profiles on own and all affiliate sites Engage and publish content on target’s preferred channels Build brand awareness through advertising, etc. Activity Company or Partner Web Site Action Prospect accesses own or partner website using desktop or mobile device to learn about the firm including checking customer reviews, areas of expertise and products/services. Response Clear informational content, mobile device compatibility, adaptive design. Channels: Direct Agent Bank Affiliate

Customer Journey – Evaluate Phase Activity Web Site Compares Rates Validates Firm Quality Action Prospect evaluates website for information regarding products, advisor availability (hours of availability, scheduling), blogs, contact options (email, phone, chat, social media, etc.) and self-service component. Prospect looks online for comparison of rates and coverage by aggregators (CompareTheMarket, CompareFIRST, etc.) Prospect looks for validation from consumer advocacy groups (Choice, CASE, BBB, etc.) Response Keep content clear, current and easy to navigate. Real-time rates on own website may provide enough information to reduce additional shopping. Regularly solicit reviews on website, when using social media. Monitor and reply to reviews and consumer advocacy group reports. Channels: Direct Agent Bank Affiliate

Customer Journey – Buy Phase Channel: Direct Agent Bank Affiliate Online Chat Phone Advisor Client seeks assistance from touchpoint of their choice Provide multiple touchpoints, each aware of prior conversations with client. Assistance: Application Signature Payment Processing Client seeks a simple and transparent process, with options for electronic forms, signatures and payment. Simplify the application process. Provide e-signature, payment via EFT, credit card, mobile or other electronic means. Reduce the amount the client must enter by accessing online databases from government or third party providers. Process:

Customer Journey – Experience Phase Channel: Direct Agent Bank Affiliate Mobile Education Value Add Access Preferences Proactive Client expects mobile and other options for managing account. Client access website for educational content on their insurance. Nurture client relationship by offering value added services Client expects easy access to policy forms and information. Client wants to set preferences for contact methods (email, text, letter, etc.) Client expects firm to look out for their needs, life changes, etc. Provide mobile options for payment enquiry, claims. Provide content relevant to target market (blog, video) Advise clients of services available to them at no charge Provide portal to generate certificates and download documents. Provide contact methods with security appropriate for the topic. Create a “Client Nurturing Plan”, identifying personalised life events.

Customer Journey – Renew or Leave Channel: Direct Agent Bank Affiliate Activity Check Rates Renewal Increase Explanation Claims Experience Action Client shops around to see if others offer better rates. Firm proactively contacts client to explain increases. Client experiences claim, seeks guidance on claim. Response Firm must use system alerts/reminders to contact client well before renewal. Renewal proposal to include comparative quotes and rate increase explanations. Establish procedure for reviewing renewals and reaching out to those with increases or approaching life changes that impact rate or coverage needs. Prompt response on claims, after-hours or online options for reporting. Advice available on submitting claim, and firm provides updates on claim status.

Customer Journey – Advocate Phase Channel: Direct Agent Bank Affiliate Activity Web Review Video Testimonial Blog Post Action Client writes review Client agrees to provide a video testimonial Client authorises firm to reference client in blog Response Request client post positive reviews on firm and social sites. Firm to keep refreshed with new testimonials Post to social and website pages Craft honest blog entry, expand on client’s comments

Factors in a Customer Journey Scorecard Episodes A journey comprises several activities. The experience of each one can make or break the relationship. End to End It’s not enough to measure customer satisfaction on any single touchpoint; what matters is the customer’s experience across the entire journey. Language Describe journey events in the way a customer would. Channels A “new-client onboarding” journey might include a website visit, a phone call, an advisor or agent meeting, and a follow-up call during application processing. Duration Individual customer journeys can vary greatly in duration, due to the number of client interactions, and the time elapsed between them. Repetition Journeys are repeatable—and can be repeated for a meaningful percentage of customers. Source: McKinsey, “From Touchpoints to Customer Journeys”, http://bit.ly/2qTtK7C