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Insurers need contextualised marketing| #eBizInsights

Insurers need contextualised marketing| #eBizInsights

Thanks to digitalisation and the effective analysis of data, marketing continues to become more personalised and contextual. In fact, digital technologies enable companies to provide customers with relevant and quality experiences reflective of today’s real-time world. Nelson Camara, Marketing and Sales Executive at SilverBridge, discusses its relevance to the insurance sector.

“Given all the client information they have at their disposal, insurers are in a promising position to drive personalised and contextualised marketing. They can use client data in different ways that empower them to offer additional value and provide a tailored experience.”

Most online consumers are already familiar with this way of doing things. From Google to Amazon, Netflix to takealot, the digital environment is filled with examples of companies using personal information to provide contextual advertising and personal recommendations. This is something marketers want to embrace within the organisation. And while they may previously have been hampered by not having access to the technology to do so, this has changed with solutions supporting this more customised approach.

Computing power

But thanks to the pervasiveness of cloud computing and data permeating all aspects of people’s lives, organisations across industry sectors have transitioned into a new way of thinking.

“Using the likes of predictive modelling, artificial intelligence (AI), and real-time data analytics, insurers can leverage the computing resources of the cloud with big data to deliver contextual marketing in faster and more innovative ways.”

This unlocks the opportunity to provide a superior customer experience based on user behaviour data, but also sees the introduction of a ‘learning through doing’ methodology from a computing perspective.

“When it comes to data analysis, machine-learning creates opportunities to automate much of these previous manual-intensive processes. In doing so, employees can deliver more strategic value by having more time to develop greater insights. This integration between AI-driven technologies and human intelligence empower insurers to know which products and solutions to suggest to which clients at the right time through the right channel.

Experiential value

Having an environment that delivers not only personalisation, but the right context, to any consumer using mobile devices, becomes a key advantage for the insurer in an ultra-competitive environment.

“Clearly, insurers are under pressure to deliver enhanced customer experiences. If anything, the digital environment has put a bigger spotlight on customer loyalty and its importance to remain relevant amidst a growing number of competitors. Driving this home is understanding the context behind all aspects of the customer’s likes and dislikes when it comes to insurers and adapting effectively.”

About SilverBridge

SilverBridge has over 23 years’ experience as a leading provider of insurance software solutions in the African financial services industry. Our footprint extends to 14 African countries. SilverBridge’s digital insurance suite allows financial services companies the opportunity to respond quickly to changing markets. With customers throughout Africa, SilverBridge has the knowledge, experience, and technology capabilities to help its clients do better business.

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