JULY - 2022MARTECHOUTLOOK.COM8IN MY OPINIONTRANSFORMATIONAL MARKETING: HOW TO EMBRACE A DATA-FIRST APPROACHBy Neil Gardner, Chief Customer Officer, Asia, Generali (G: BIT)The call for data-first operating models for traditional insurers has never been clearer. To embrace a transformation from data-holding providers to agile environments offering innovative products and services, insurance companies must transform their business models and evolve into data-first enterprises. The journey to become an agile organisation starts with embracing the changes required to become truly data-driven. This means putting data science, analytics and IT at the centre of the business and addressing questions such as: How is data used? What insights do analytics bring? What are the Customer and Operational benefits of AI? Data-first is the result of being data-driven, where data is used to drive organisational change from customer insight. For marketing, it's about driving strategic decision making and optimising programmes and campaigns based on near and realtime data.WHY ADOPT A DATA-FIRST STRATEGY?For Generali in Asia, our Brand Promise is to become a Lifetime Partner to our Customers and Agents.This means creating a customer-centric environment and building a culture that relies on understanding the wants and needs of customers and transforming their data into actionable promises that strengthen Customer Retention and increasing Share of Wallet. We have transformed this insight and data into three Customer Promises; Effortless Experiences, Personalised Value Propositions and Phygital Advice.At the heart, it relies on customer knowledge. Our journey maps identify tasks that can be automated to free up resources that can be redeployed to areas where the human touch and the human experience is most important. Using advanced analytics enables us to better understand our customers, as well as assess insurance risks more accurately.
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