Reimagining Insurance:

The New World of Digital

Customer Engagement
Deliver tangible quick wins for digital
transformation projects

A Frost & Sullivan Whitepaper

In Collaboration with Whispir & Vonage
Contents

Personalisation as a path to sustained growth 3

What policyholders expect from their insurance providers 4

Building a mobile-first digital engagement 5

Whispir x Vonage: Delivering personalised Digital CX at scale 7

Rethinking distribution for hyper-growth 10

Delivering quantifiable quick wins in digital transformation 14

Empowering IT to modernise legacy systems 16

Transforming possibility into opportunity 18

 1.0

Personalisation as a
path to sustained growth
The insurance sector has Apart from compliance and cost-efficiency Without the ability to revitalise fragmented
undergone profound priorities, insurers must recognise the impor- activities and leverage agile digital-first
tance of personalised interactions, integrated platforms that promote seamless customer
changes in the past few
communications, availability, and responsive- interactions and collaboration organisa-
years. Changing ness in building relationships with customers, tion-wide, insurers risk losing the trust and
customer expectations, prospects, agents, and intermediaries. loyalty of policyholders to the competition. To
rising use of online tools achieve sustainable growth, insurers need to
For insurance companies, this new approach prioritise the delivery of unified experiences to
to research, purchase,
poses significant challenges – and opportunity their policyholders through intelligent and
and manage their
– to embrace transformation. Insurers need to integrated digital capabilities to increase the
insurance alongside rethink their current path to attaining superior lifetime value of their customers.
competition from tech customer experiences while addressing the
1

start-ups and new
business models are
increasingly impacting
the way insurance
companies operate.
1
CX is the totality of interactions a client has with a
brand, including each touchpoint with sales and
product teams, customer support areas, outsourcing
partners, its website, and advertising.
Leading on the Edge of Chaos, Emmet Murphy &
2 tions
Mark Murphy
3
Digital Trends in the Finance, Banking and
Insurance Industry – Global, Frost & Sullivan, 2019
Asia- Pacific Customer Experience Management
4
Study – Insurance, Frost & Sullivan, 2017
restraints of legacy systems, a product-fo-
cused distribution model, and tedious admin-
istrative and claims processes. They must
shift from inefficient engagement models to
more personalisation to attract and retain
customers for sustainable differentiation.
Research shows that a 2% increase in
customer retention has the same effect on the
business as reducing costs by 10%, under- 2
scoring the importance of making every
interaction count. This is pertinent now more
than ever as organisations and customers
demand greater clarity in communications
amid the disruption and uncertainty caused by
the COVID-19 pandemic.
Reimagining the future for insurance compa-
nies will involve a focus on creating custom-
ised end-to-end customer journeys that reflect
evolving customer needs and preferences.
Leading insurance companies are harnessing
the power of automation, data, and cloud to
develop personalised customer communica-
while optimising the multichannel
workflow efficiencies. However, many are still
hampered by siloed legacy systems and
processes, as well as complex distribution
models as the biggest hurdles to digital trans-
formation.
While product quality and services are import-
ant, it is also about emotional connection and
perceived value. Companies prioritising
customer experience (CX) delivery generate
60% higher profits than their competitors,2
and higher success in cross-selling activities
when customers have optimal experiences. A
starting point is understanding policyholder
requirements, designing communications and
services around these needs, and then
delivering at their convenience. "Close to
87% of respondents from insurance
companies acknowledged that CX offers a
competitive edge, while 60% consider it a
primary differentiator."3
In a hyper-connected world, customers have
easy access to information, more brand choic-
es, a higher likelihood of switching brands,
and more power to influence future business.
The ability to deliver meaningful experiences
can be the difference between a struggling
insurer and a thriving one. "79% of custom-
ers revealed that CX was a key determinant
in the choice of insurer, and 67% claimed
they discontinued patronage due to CX
issues with their previous provider."4

03 Reimagining Insurance – The New World of Digital Customer Engagement

 2.0

What policyholders
expect from their
insurance providers
Insurers have long The key to developing unique positive bias among customers is catering to critical policyholder
struggled with customer expectations at each stage of the customer lifecycle, from initial engagement with a prospect to
signing up, customer support, claims processing, and renewals.
interaction capabilities,
with many not pursuing
engagement beyond the
buying, claims
Opportunities in Managing Critical
processing, and billing Policyholder Expectations
stages.
Personalised: Customers want to Productive: Customers expect each interaction to
be treated as unique individuals produce the desired outcome and quickly. More
and expect personalised policies than one-third of customers believe that the
Frost & Sullivan
that reflect their lifestyle, habits, convenience of "getting things done the first
research reveals that and digital/technology footprint, as time" is more important than contact options.4
well as how they interact. 73% of
insurers, like other Convenient:
buyers expect companies to
industry segments, understand their needs and
• Digital
• Mobile
need to excel in expectations at an individual
• Omnichannel
level while 62% want brands to
communications adapt based on their actions and
• Self-service
• Always on
experiences that are: behaviour.5
Customers seek easier
access to their
Proactive: Policyholders insurance providers,
expect their insurer to whether to enquire
proactively anticipate about policies, get a
their needs and add value quote, sign up, onboard,
to the interaction. 85% of make a claim and be
customers will share informed on its status,
relevant information on their preferred
about themselves in interaction platform.
exchange for proactive 71% of customers
customer service.4 Secure: Customers used some form of
treat robust security digital research before
protocols as a standard buying insurance (e.g.,
requirement for doing price comparison or
Predictive: Customers want seamless
business with their social media); 26%
Asia- Pacific Customer Experience Management
4
experiences irrespective of interaction
Study – Insurance, Frost & Sullivan, 2017 providers. 84% of bought their policies
channel and department. 78% of custom-
State of connected customer research, Salesforce
5
customers are more online (e.g., web or
Research, 2019 ers expect consistent interactions
loyal to companies mobile device)6
6
Insurance 2020: The digital prize – Taking customer across departments.4
connection to a new level that have strong
security controls.4

Reimagining Insurance – The New World of Digital Customer Engagement 04

 3.0

Building a mobile-first
digital engagement
Becoming mobile-first is Digital tools: The COVID-19 health crisis insurers to deliver consistent communications
front of mind for insurers highlights the broader potential of digitalisa- across various channels with integration of
tion post-pandemic, where remote contact disparate back-office systems. 69% of
in minimising customer
centre, as well as mobile and digital self-ser- customers expect connected experienc-
effort across self-service vices, are expected to remain the de facto es.4
or assisted service communications mode to interact with policy-
interactions. Insurers holders and conduct business. The evolution Self-service: Apart from the convenience of
of mobile messaging interfaces now allows using the web or mobile apps to find informa-
embracing CX-driven
insurers to establish a rich digital communica- tion and resolve issues, policyholders'
digital offerings will be
tion channel quickly. 86% of customers demand for self-service in the current
well-positioned for expect their experience to improve pandemic environment has further accelerat-
success. substantially in the connected digital ed the need for digital. 68% of customers
world. 4
prefer to use self-service channels.4

Omnichannel capability: Customers prefer Always on: Customers expect 24x7 support
to interact with brands using a mix of channels and rapid responses to their queries. 71% of
– email, web, mobile, social media, chat, customers expect businesses to commu-
apps, bots, voice, and video – and expect nicate with them in real-time.4
seamless experiences across all. Integration
of videoconferencing for policy advice and
telehealth services, e.g., appointment, consul-
tation, and photo- or screen-sharing features,
is also critical in the current business climate.
Adopting an omnichannel approach requires

Delivering frictionless and secure end-to-end experiences throughout the purchas-

ing lifecycle, both online and offline, requires insurers to understand policyholders'
needs and engage with them accordingly. However, the reality is much different.
Only less than 2% of insurance companies are highly satisfied with their CX capa-
bilities, over 21% remain dissatisfied while 77% believe CX personalisation capa-
bility is partially available in their organisations,2 suggesting ample opportunity for
Leading on the Edge of Chaos, Emmet Murphy &
2 improvement. Harnessing the power of intelligent communications enables insur-
Mark Murphy
ers to capture quick wins while preparing for long-term transformation.
Asia- Pacific Customer Experience Management
4

Study – Insurance, Frost & Sullivan, 2017

05 Reimagining Insurance – The New World of Digital Customer Engagement

 Opportunities for Insurers across the
Insurance Buyers’ Journey

01 Awareness, consideration

05 Retain, renewal • Limited product engagement and doubt

about value
• Incomplete product understanding
• Limited or no access to quick, easy • Tendency to put off the purchase to later
self-service time

• Limited flexibility/ lack of empathy,

transparency
• Hyper-personalization - analyze,
understand, and predict the individual
• Proactive engagement, follow up for customer’s preferences and offer services
renewals accordingly
• Deliver an automated buying experience • Engage with prospects based on their
• Digital automation of customer policy behavior
renewal
• Incentivize customers with online
activation
02 Research, convert

• Low trust in delivery

• Limited rapport with contact person

• Proactively engage with prospect, educate,

and instill confidence through self-service
channel, hand-off to human-assistant as
needed
• Cognitive tools, automation of intensive
time-consuming processes like policy
quotes and servicing results in increased
04 Use services operational efficiencies

• Frustration about delay and lack of

transparency
03 Purchase, onboard
• Feeling rejected when application is
turned down
• Need for urgent help • Confusion about product features
• Doubt if the product in the right fit

• Fastens the claims processes by automating

the data collection steps • Proactive engagement (appointment
• Keep customers informed on their claim scheduling reminders, information sharing,
status survey etc.)
• Personalized pricing based on intelligence

• Easy authentication and communication

between prospect and other stake holders

Legend:
Business leakage drivers
Engagement enhancement drivers

Reimagining Insurance – The New World of Digital Customer Engagement 06

 4.0

Whispir x Vonage:
Delivering personalised
Digital CX at scale

Clear communications Whispir, a leading software-as-a-service people to create conversations, engage

can raise the efficacy of
each stage of the buyer's
journey.
(SaaS) communications workflow platform
helps insurers, irrespective of size; cost-effec-
tively manage communication flows between
applications and people. For insurers, the
platform offers an opportunity to create
personalised, relevant, and timely multichan-
nel interactions (e.g., SMS, chat apps, push
notifications, email, personalised web app,
personalised video and video chat), that
deliver high-impact results. Vonage, a global
provider of unified communications, contact
centres and programmable communications
application programming interface (APIs) built
flexible cloud platform, augments the Whispir
platform to create agile new ways for insurers
to overcome challenges such as lead times
with traditional app development,
speed-to-market and secure information
management.
Be it for the web, mobile or desktop, the Whis-
pir x Vonage solution is interoperable with
existing systems and can be integrated quick-
ly and seamlessly. The ease of implementa-
tion provides insurers with a competitive
advantage in advancing digital transformation
efforts for greater business agility. The Whispir
platform connects devices, systems, and
audiences, and streamline key communica-
tions processes, enabling insurers to:
Connect: Instantly send compelling and
relevant interactions to your audience by
SMS, chat apps, push notifications, email,
personalised web app, personalised video
and video chat.
Create: Use simple drag and drop tools to
create studio-quality content in minutes
without the need for designers or develop-
ers; create engaging personalised content
for acquisition marketing, retention/renew-
al, cross-sell, surveys, agency communica-
tions and more.
Automate: Simplify complex interactions
into scenario-based triggers that make
end-to-end solution workflows. Accelerate
customer journeys, provide proactive more
seamless experiences, and manage
business communications.
Report: Understand the target audience
and make data-driven decisions that lift
call-to-action rates and levels of engage-
ment with intuitive reporting features.

07 Reimagining Insurance – The New World of Digital Customer Engagement

Whispir x Vonage Platform Managing
End-to-End Communications across
the Policyholder Journey

SMS Rich Rich Message WhatsApp Rich Rich Message

Message workflow Message engagement

Targeted Campaign/ Complete Insurance Notification to Select “request

Renewal Notice Application connect a video Call”

Live Video

Rich Message WhatsApp Rich Send Message Rich Message

Workflow Message to Claim with attachment

Customer Status Filling a View Online Insurance

Survey Updates Claim contract Consultation

Whispir leverages Vonage's voice, video, and
messaging to deliver interactive SMS, video, and
voice experiences reliably in real-time across the
globe, helping businesses to easily create, deploy,
and maintain communications applications without
having to build from scratch or requiring software
development or design skills. The platform empow-
ers insurers to manage end-to-end communications
at scale, allowing policyholders to interact with their
providers on their preferred channels, whether by
SMS, voice, email, video communications or social
media messaging, anytime, anywhere, using any
device.
Communications can be quickly customised accord-
ing to evolving requirements, allowing insurers to
optimise connections with target audiences across
the journey. The flexibility is especially advanta-
geous in allowing insurers to proactively respond to
the needs of customers, prospects, agents, and
intermediaries, especially given the impacts of the
pandemic on current operating environments. Apart
from keeping policyholders updated and attracting
the attention of prospects, the platform also
improves agent experience in areas such as
onboarding, services and support, billing and collec-
tions, claims processes, and renewals through
personalised communications.
Onboarding: Provides interactive welcome and
induction packs for new products and services,
such as contract and payment details on the
policy.
Service and support: Reduces manual handling
costs by automating and digitising operations,
including payment notifications, premiere custom-
er relationship management, progress notifica-
tions for applications, facilitating Two-Factor
Authentication (2FA)/one time passwords, and
claims management.
Billing and collections: Maintains consistent
services with policyholders when dealing with
transactional tasks, such as payment dates, late
payment reminders, and renewal notices.

Reimagining Insurance – The New World of Digital Customer Engagement 08

 The Whispir x Vonage solution creates immediate value
for insurers as a:

Single platform for all communications True omnichannel engagement

Whispir integrates multiple cross-channel
customer engagement capabilities on a
unified platform making it easier, convenient,
and more efficient for insurers to manage
end-to-end interactions. Its robust, scalable,
and customisable platform positions it to meet
the most stringent messaging requirements of
insurers. The communications stack is also
flexible enough to meet the varying needs of
other business units within the organisation.
Whispir leverages the Vonage APIs as its
main engine to deliver rich communication
messages securely across different geogra-
phies. Leveraging vast customer data
insights, Whispir can program interactions in
any way imaginable using the communication
APIs. Vonage's Live Video API allows Whispir
customers to quickly and easily build interac-
tive video experiences to deliver the right
information to the right person at the right time
on their preferred channel, creating truly
customised experiences.

Automating processes for higher efficiency

Integration of automated messaging systems with other customer-facing technologies, including CRM
and billing functions, minimises the need for many time-consuming manual tasks to launch products, as
well as carry out underwriting and claims processes, driving high-value CX. The Workflow function in
Whispir automatically carries out specific actions when certain triggers are activated. By using the visual
Workflow Builder, users can easily design communications workflow and automate interactions with or
without human involvement, allowing them to create products and services more closely aligned to
customer demands.

09 Reimagining Insurance – The New World of Digital Customer Engagement

 5.0
While the agent/broker network
continues to be the primary
channel across the insurance line
of business, contributing 60%-90%
of total sales, insurers now see the
wider potential of new ecosystem
partnerships and "phygital",
direct-to-customer approach in
reinforcing their existing model and
expanding their reach to new
markets. People buy from those
they trust, whether it is directly
from the brand, retailers, agents, or
brokers. Success will depend on
how effectively insurers connect,
communicate, and engage with
relevant stakeholders by:
Rethinking distribution
for hyper-growth
Improving operational excellence and
01
channel engagement
Enhancing agent value is a critical parameter
for insurers. Apart from education and product
information, equipping agents with customer
insights (e.g., behavioural analysis, claims
data, risk profile) is essential to forging stron-
ger policyholder relationships to drive higher
renewal rates and more cross-sell and up-sell
opportunities. Agents and brokers are already
using digital devices such as tablets to access
and share information with policyholders.
Establishing enhanced communications,
leveraging conversational bot support, live
chat, videos, and interactive guides will
enhance the experience of intermediaries and
allow them to be more productive.
Reimagining Insurance – The New World of Digital Customer Engagement
Enabling phygital for direct-to-cus-
02
tomer interactions
City lockdowns and social distancing
measures are prompting higher customer
utilisation of direct self-service and online
aggregator channels, accelerating digitalisa-
tion of operations across the insurance sector
to respond to these needs. Increased digital
adoption is also enabling primary insurers to
deploy the direct-to-customer model, reducing
the reliance on intermediaries and using
self-service digital channels to handle adviso-
ry, transaction, and underwriting functions
(e.g., claims processing, risk assessments).
AI, cloud, and automation technologies allow
insurers to streamline procedures across the
insurance value chain and leverage insights
from diverse data sources to offer rich
communications and contextual information in
real-time. Adopting a hybrid phygital model
also promotes convenient, low-cost channel
options for lower-value interactions, e.g.,
basic information and transaction capabilities
while freeing up face-to-face agent-policy
holder interactions to drive higher value,
long-term relationships.
10
 Whispir's intelligent workflow communications platform helps insur-
ers deliver targeted customer insights via personalised videos to
agents and intermediaries. The platform also assists agents and
third-party providers with the digital tools to deliver relevant rich
messages, alerts or promotional offers to specific customers for
better engagement and monetisation opportunities. It also allows
insurers to directly target prospects with personalised rich messag-
es to connect, engage, and convert into subscribers without agent
intervention.

Creating a digital ecosystem to online experiences, and partnering strategi-

03
capture whitespace and differentiate cally with online vendors, e.g., social media,
Through digitalisation, insurers can gain a travel, payment, telcos, banking, and
360-degree view of their policyholders and insurtech* players, insurers now have the
offer value-added products and services potential to create channel differentiation and
mapping the full range of their financial and product diversification to tap into new custom-
lifestyle needs. By embedding insurance er bases.
point-of-sale options into customers' other

By leveraging an intelligent communications workflow platform,

*Insurtech refers to the use of
technology innovations designed
to squeeze out savings and
efficiency from the current
insurance industry model.
insurers can not only bring together various components of the
ecosystem to ensure seamless experiences for all stakeholders, be
it customers, agents, brokers, and partners, it can also connect with
prospects and policyholders using personalised rich messaging to
engage and promote quick purchasing decisions in driving new
sales and renewals. Demand for mobile communications is on the
rise across all insurance distribution channels. Whispir empowers
insurers to deliver personalised content for prospects and policy-
holders during sales, fulfilment/onboarding, and claims processes
that offer tangible, immediate value.

11 Reimagining Insurance – The New World of Digital Customer Engagement

Whispir's Intelligent Communications Platform
Delivers Personalised Engagement and CX
PARTNER CROSS-SELLING

1 2 3
Personalized offer Policy summary Successful payment

DIGITAL CONSULTATION & CONVERSION

4 5 6
Video call scheduling with Agent booking confirmation Video call with agent
agent

Reimagining Insurance – The New World of Digital Customer Engagement 12

 7 8
Form signing Payment successful-home
coverage

CUSTOMER SERVICE

9 10 11
Claim request Claim approval-refer a friend Feedback-thank you page

13 Reimagining Insurance – The New World of Digital Customer Engagement

 6.0

Delivering quantifiable
quick wins in digital
transformation
Companies that excel in Insurers recognise that the biggest payoff of Research shows that over 70% of insurers

managing digital digital transformation is shifting from a product take six months to more than a year to move a
focus to customer-facing applications. While digital initiative from idea to implementation,9
transformation
some have made progress; the vast majority indicating low success in attaining short-term
capabilities are 26% are yet to make significant inroads into quantifiable gains. Within this context, the
more profitable, generate harnessing the power of digital technology in Whispir intelligent communication platform
9% more revenue from every aspect of their business. Even with the demonstrates significant ability in generating
right intentions, fewer than 30% of companies immediate, tangible business value through
their physical assets, and
succeed in transformation efforts.8 swift deployment in days, often with little or no
achieve 12% higher
intervention required from IT. Below are sever-
market valuation than al use cases insurers can explore for quick
Multiplying the ROI of marketing
their peers. While the
7
and quantifiable returns:
communications
need for digital Whispir's intelligent workflow communi-
transformation is clear, cations platform helps insurers unlock Migrating customers from paper to
managing, funding, and insights from their CRM data and digital
third-party tools to design and deliver The platform automates many manual,
overseeing such projects
timely, highly-targeted, and distrac- paper-based tasks, e.g., distribution of
for optimal outcomes
tion-free rich messaging that resonate account statements, special offers, and
remains a challenge. well with target audiences, offering compliance information to policyholders.
immediate, tangible value and attracting Whispir helps insurers to quickly transi-
high engagement rate. The effective- tion to paperless communications via
ness of rich messages delivered via sms simple yet rich messaging options. By
is evident from up to 98% open rate, migrating from paper to digital, insurers
maximising customer reach and cost-ef- can streamline complex processes and
ficient scalable communications. increase digital engagement with
Increased engagement translates into customers efficiently. The platform also
more people reading, engaging, allows insurers to continuously track
clicking, and absorbing messages than and measure communications across all
before, achieving a higher return on workspaces in real-time, resulting in
investment (ROI) for insurers. Following better cross-selling opportunities over
this up with intuitive interactions on the other digital channels.
micro-app assists customers in making
a decision, resulting in high conversion
rates. The solution demonstrates great-
7
MIT Initiative on Digital Economy – Digitally mature
firms are 26% more profitable than their peers er effectiveness than traditional email
8
McKinsey Blog - Unlocking success in digital prospecting and sales calls, signalling
transformations
its considerable potential in capturing
9
Digital disruption in insurance: Cutting through the
noise, McKinsey Digital, 2017 whitespace market opportunities.

Reimagining Insurance – The New World of Digital Customer Engagement 14

 App for everything to boost customer
adoption
Insurance is a low-frequency touch journey,
with low app adoption among the policyholder
base. Whispir helps insurers to increase the
use of its mobile app by cross-promoting the
tool as part of the communications occurring
via SMS or email after successful transac-
tions. Personalised messages promoting the
app, its features/capability, and promotions
available only via the app act as an excellent
trigger for policyholders to start using the app.
Whispir's platform is also a great option to
provide an app-like experience for those who
choose not to install native apps.
Automating communications processes
for swift deployment and cost-efficiencies
The Workflow feature in Whispir allows clients
to design an automated communications
workflow using pre-defined templates and
determine specific actions when certain
triggers are activated. The automated
processes can be easily scaled with the click
of a button according to need and without
human involvement. As the volume of custom-
er insights increases, the platform is expected
to eventually be able to predict the relevancy
and efficacy of particular interactions better,
helping to reduce the effort and costs of
communications.

How the Whisper x Vonage Solution

Creates Value

Create automated Provide easily-used Harness real-time, Personalise Secured communication /data
workflows drag-and-drop data-driven insights targeted protection with customisable
that enable templates from different experiences at scale permissions and controls,
organisations to that can be used sources to provide to people in the ISO27001 certified to support
engage with people with pre-existing context and build channel they want, at regulatory compliance and
everywhere instantly systems trust the time they want it multi-jurisdiction privacy
requirements

Easy to use APIs Global reach - Agile - Future Proof -

to embed verification, fraud connect across clients can keep continues to exceed
detection, automated alerts, voice, 190+ countries only what they need customer expectations
video and customer insights and over 1,600 as they design, test as communication
directly into each interactions networks and scale rapidly evolves

15 Reimagining Insurance – The New World of Digital Customer Engagement

 7.0

Empowering IT to
modernise legacy
systems
Top 5 Challenges Inhibiting CX Delivery Capability2

Two-thirds of global CEOs

position digital transformation 57.5%
at the centre of their corporate 50.0%
strategy.10 When asked about 45.0%
their CX strategy, only 5.1% of 37.5%
insurers rated it as optimised
32.5%
while the majority (66.7%)
believed it to be in progress.2
Obstacles to realising CX
strategy vary across organisa-
tions based on the operating
environment, size, business, Legacy Complexity integrating Securing Ability to customize Skill shortages
geography, and technology systems multiple technology budget/costs solutions (i.e. on emerging
inflexibility systems effectively technologies)
maturity.

Extending the Being highly regulated, insurers rely heavily
on reliable infrastructure to handle large data
viability of legacy volumes. Many have grown over decades
systems through expansion, as well as mergers and
acquisitions, creating new products and enter-
ing new markets, adding to the technology
complexity. Legacy back-office systems
consume not only substantial budget and
resources, but are also inflexible and difficult
to adapt in a way that supports new digital
initiatives.
Leading on the Edge of Chaos, Emmet Murphy &
2
Whispir's scalable SaaS platform delivers
quick wins for IT teams by modernising
legacy back-end systems without costly
capital expenses. The Whispir solution can
draw out the necessary data from existing
infrastructure to effectively visualise and
execute workflows to deliver clean digital
experiences tailored for their agents/bro-
kers, staff, and customers. The platform
enables businesses to seamlessly add
new functionality and features, extending
the agility of existing back-end systems.

Mark Murphy

Top End User Priorities in Digital Transformation,

10

Global, Frost & Sullivan, 2019

Reimagining Insurance – The New World of Digital Customer Engagement 16

 Mitigating Transformation projects often face resource
restraints, be it lack of budget or required skills
resource internally. As a result, many organisations,
constraints including insurers, end up depleting as much
as 60% to 70% of their budget on keep-
ing-the-lights-on activities, 7
leaving
investment for CX innovation. To succeed,
insurers need to partner with solutions provid-
ers that provide easy to integrate low-code
platforms that reduce dependency on costly
internal resources.
Whispir's cloud-enabled solution offers a
robust set of communications APIs that
enable quick deployment of programmable
experiences without requiring developers
to have channel-specific expertise. This
little provides companies with the flexibility to
deploy channels and features with just a
few lines of code without the need for
costly maintenance and on-premises
implementation.

Liberating IT from Lengthy development cycles integrating new
solutions into existing infrastructure pose a big
backlogs challenge for insurers, with nearly 62% of IT
teams having a backlog in mobile apps devel-
opment. Partnering with a reliable technolo-
11
gy solutions partner can help bridge legacy
system integration with modern applications
and extend the platform with plug-in technolo-
gies, including tools for authentication, service
7
MIT Initiative on Digital Economy – Digitally mature
firms are 26% more profitable than their peers access, and effective communications.
The State of Application Development Report: Is IT
11
Ready for Disruption?, 2019
Whispir's cross-channel messaging
solutions, layered communication work-
flows, real-time CX analytics, and market-
ing automation web apps across the
customer lifecycle help insurers transform
customer-facing tasks. The workflow layer
provides insurers with the agility to enrich
communications with a prospect, policy-
holder or agent. Communications can be
designed easily and quickly using pre-built
templates or visual designer with no need
for coding expertise.

Modernising Legacy Systems the

Whispir Way

Whispir integrates An event occurs that Whispir’s platform Whispir’s solution

with existing needs to either automatically or expands
operational communicated manually distributes a communication
databases message to the possibilities and
desired stakeholders enriches engagement
group via the desired via contextualised,
communication repeatable and
channel interactive messaging

17 Reimagining Insurance – The New World of Digital Customer Engagement

 8.0

Transforming possibility
into opportunity
Accelerating digital The innovative functionalities offered by the such as scalability, streamlined workflows,

transformation for a
360-degree view of the
customer in improving
engagement and
operational efficiencies is
fast becoming a strategic
imperative.
Whispir x Vonage platform allow insurers to
integrate and seamlessly manage employee,
agent/broker, and customer communications
and messaging on a single, scalable platform,
with high-impact business outcomes.
A key differentiation is the use of APIs that
extend the communications functionalities
and experiences on existing systems, applica-
tions. This provides businesses with benefits
and the ability to securely transform customer
interactions through data analytics to attain
business outcomes that organisations are
unlikely to get from competitors. Insurers can
build personalised mobile or web experiences
for policyholders using the pre-built templates.

API as the Building Blocks of

Intelligent Communications
Voice Video
High-quality, scalable, and Live video chat with
flexible voice experiences with face-to-face human
user context and data. interaction.

Messaging Authentication
MMS, SMS, social chat apps Two-factor authentication used
like WhatsApp, Facebook to validate an account and
Messenger, or Viber. prevent fraud.

From simple appointment reminders to solving complex challenges like process automation for
a mobile workforce, the Whispir solution is trusted by a growing number of enterprises from
Fortune 100 companies to SMBs, boasting over 10,000 different uses from customer marketing
to community safety.

Reimagining Insurance – The New World of Digital Customer Engagement 18

 Competitive Advantages of Whispir's
Intelligent Communications Platform
Scalable platform with on demand Built on open architecture, easily integrate
capacity with existing IT systems

Fast development with modern tools and

Low code, no code platform
frameworks

Cost-effective infrastructure and Repeatability (single use: off-the- shelf >

service delivery smart bundles > full enterprise solutions

Reliable communication process Customisable workflows - flexibility of

automation approach, deploy as need evolves

Excellent digital experiences can help insurers win, serve, and retain customers. Whispir's intelli-
gent communications platform is enabling insurance companies to evolve digitally around emerg-
ing channels and create the best communication experiences possible for policyholders, staff, as
well as agents and intermediaries, reaching more prospects across the customer journey.

Benefits of the Whispir x Vonage

Across the Insurance Value Chain
IT Line of business
Policy buyers Modernize legacy system Digital/ omnichannel engagement –
An experience that resonates with Quick access to digital capability Differentiate through CX
Overcome resource constraints Expand distribution
their expectation (Personalised,
Saving costs Improved NPS
proactive, predictive, productive,
Fast value creation for LOBs/ customers Enhance agent experience
convenient and overall secured)
Revenue, market share growth
Higher satisfaction rate

Transforming to be brand Marketing Customer support/ Operations

advocate than passive buyer Hyper-personalisation Enhance efficiency in the end-to-end process
Better click-through Proactive engagement
Affinity to get more service from
Rich engagement Call deflection/ self-help
the same insurer
Improved lead qualification Improved NPS/ loyalty

As CX overtakes price and product as the new competitive battleground, insurers need to focus
on delivering personalised interactions to stay competitive and win in new markets. The scalabili-
ty and flexibility of SaaS platforms and innovative APIs will be critical to how insurers manage
integrated end-to-end intelligent communications with customers, agents, and partners and build
an ecosystem of services. With Whispir's robust and scalable SaaS platform leveraging
Vonage's innovative communication APIs, it is now easier than ever for insurers to reimagine a
future that transcends silos and embraces innovation in meeting customer expectations, deliver-
ing immediate, tangible business results.

19 Reimagining Insurance – The New World of Digital Customer Engagement

 About Whispir
Whispir is a global scale SaaS company, founded in
2001, to provide a communications workflow
platform that automates interactions between
organisations and people. Our products enable
organisations to improve their communications
through automated workflows to ensure
stakeholders receive accurate, timely, useful and
actionable insights in a manner that is sensitive to
individual contexts and preferences. Our custom-
ers use Whispir’s software to create interactive,
multi-party and omnichannel communications
from templates, solving simple to complex
communications workflow tasks. Whispir
operates across three key regions of ANZ, Asia
and North America.
About Vonage
Vonage is redefining business communications
once again. We're making communications more
flexible, intelligent, and personal, to help enter-
prises the world over, stay ahead. We provide
unified communications, contact centres, and
programmable communications APIs, built on the
world's most flexible cloud communications
platform. True to our roots as a technology
disruptor, our flexible approach helps us to better
serve the growing collaboration, communications,
and customer experience needs of companies,
across all communications channels.
More information www.vonage.com

More information www.whispir.com

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