Solutions: Life and Retirement
Gain greater wallet share with smarter customer conversations

Acquisition

New Business Acquisition and On-Boarding

Effectively target and acquire customers

• Define marketing and customer acquisition strategies that are the most likely to receive positive response from targeted prospects regardless of the channel. Visually simulate strategies to understand their impact on customer behavior based on previous results, revenue forecasts, profits, risk behavior and other business metrics.
• Deliver the right offer at the right time. Use adaptive analytics and real-time decisioning to build selling strategies that deliver the most relevant, customized offer when the customer or prospect is most receptive.
• Offer convenience and consistency across channels. Deploy a unified acquisition strategy for all channels, including independent and captive agents, service representatives and self-service channels.

Reduce acquisition costs

• Eliminate off-target outbound campaigns and offers. Use predictive analytics to precisely target prospects and create compelling "segment of one" value propositions. Optimize the usage of your agent channel by appropriately allocating value-generating leads.
• Leverage inbound interactions for sales. Dynamically recommend the best offer as the conversation unfolds with real-time decisioning and Next-Best-Action guidance.
• Increase bundle sales and reduce on-boarding costs. Automatically guide agents through the conversation to set up policies, including dynamically generated recommendations for product bundles best suited to the customer.

Respond immediately to business opportunities

• Refocus, change and terminate campaigns and offers in real-time to more effectively achieve your profit goals. Use business-friendly tools to build, monitor, simulate and optimize the real-time effectiveness of programs and their effects on customers, the distributor network, revenue, profits, lifetime value, retention rate or other business metrics.
• Increase the value of current investments in customer-facing interactions. Augment existing capabilities with Chordiant's flexible, service-oriented architecture to improve ROI.

Retention

Retention, Cross-Selling, Up-Selling

Increase the sales effectiveness of the distributor network

• Drive more revenue per customer. Determine a policyholder's propensity and likelihood to accept extended cross-sell and up-sell offers using adaptive and predictive analytics.
• Cost-effectively engage in proactive customer retention. Leverage analytic models to predict individual policyholder expectations and propensities and identify those most likely to defect. Combine these models with business-focused “save” decision strategies to guide agents through proactive conversations designed to retain the customer.
• Improve the efficiency of the distributor network. Provide an agent desktop that delivers a unified view of each customer across lines of business and systems.

Retain at the Right Cost

• Eliminate static offers. Simulate and optimize sales propositions in real-time to retain your best customers at the right cost. Dynamically guide sales conversations using Next-Best-Action strategies to make sure that recommendations and offers are appropriately timed by taking into account the customer's responses, mood and behavior.
• Leverage existing data in sales conversations. Re-use existing applications and data throughout the conversation to optimize the value of existing systems by increasing the scalability, flexibility and agility of their capabilities.

Customer Service

Customer Service

Drive incremental sales through service interactions

• Help agents and representatives deliver relevant and timely offers during customer service interactions. Provide dynamic guidance and recommendations based on policyholder profile, behavior, responses and history.
• Increase the percent of inbound interactions receiving offers. Proactively trigger personalized offers to eliminate dependence on staff expertise and help agents and representatives feel comfortable delivering a timely and personalized offer more frequently.

Increase customer satisfaction

• Dynamically tailor recommendations and build customized programs based upon each policyholder's profile and history. Use adaptive analytics, real-time decisioning, and Next-Best-Action strategies to deliver guidance and treatments that treat each policyholder and agent as an individual.
• Deliver consistency across all channels. Make sure conversations in one channel can be completed in another with a unified, up-to-date view of each multi-level policyholder relationship and a complete history of all conversations across all channels.

Reduce service costs

• Maximize service efficiency across lines of business and geographic locations. Eliminate information silos with a unified desktop for service representatives and the distributor network that does away with the need to tab through multiple screens or search for data in multiple systems.
• Increase first-contact resolution and reduce average handle time. Manage the amount of time spent on each customer by continuously monitoring and controlling conversations to balance customer expectations with business objectives.
• Increase call deflection with personalized self-service. Leverage adaptive analytics, real-time decisioning and a universal customer view to provide greater information access, transparency and self-management capabilities to online customers.

Risk and Compliance

Leverage real-time risk assessment

• Effectively implement risk-based pricing. Predict future behavior and underwriting risk as the conversation with the customer unfolds through a unified customer view, predictive analytics and real-time decisioning.
• Improve portfolio risk management. Monitor customer behavior in real-time to identify changes in risk profiles and dynamically adjust actions and offers.

Adhere to privacy regulations

• Increase compliance and consistency across every channel. Use real-time decisioning and Next-Best-Action guidance to makes sure agents and representatives follow privacy and compliance requirements throughout they conversation. Build in the different rules and workflows for individual distribution channels and lines of business.
• Maintain a complete interaction audit trail. Automatically capture all conversations across every channel for a unified, up-to-date view of each customer's interactions.
• Appropriately restrict access. Provide a limited view of customer data to agents, representatives and online customers that is appropriate their roles.