In September 2020, homegrown life insurance company Singapore Life Pte Ltd (“Singlife”) and UK-based insurer Aviva plc entered a $3.2 billion merger transaction– the largest insurance deal in Singapore and one of the largest in the Southeast Asia– to create a leading financial services company in the city-state. Having a shared focus in delivering customer-centric initiatives, the newly combined business Aviva Singlife has brought together Avida Singapore’s excellence and industry experience and Singlife’s technology-focused capabilities.

Now a leading financial services firm in Southeast Asia, Aviva Singlife carries on with the company’s commitment to delivering enhanced customer experience alongside its more comprehensive portfolio of solutions. The insurer has tapped Qualtrics, the leader and creator of the Experience Management (XM) category, to support Aviva Singlife’s customer experience transformation journey leveraging the Qualtrics CustomerXM platform.

Sharing about the latest company technology investment, Lara Truelove, Aviva Singlife’s Head of Customer Experience, said:

“We are committed to providing our customers with a superior experience, based on innovation and trust. Qualtrics will help us achieve this, equipping us with intelligent capabilities to continually develop and deliver products, services, and support, aligned to our customers’ changing needs. Importantly, the rich insights will also help us remove the complexity and confusion often associated with insurance, empowering our customers to make confident decisions.”

Enhancing the Customer Journey with Qualtrics Customer Experience Software

Harnessing Qualtrics CustomerXM, Aviva Singlife intends to deliver premium financial services products and assistance tailor-fit to customer’s needs. Aside from standardising customer experience, the insurance company is also creating a modern, uninterrupted listening platform with the latest CX innovation.

According to Qualtrics research, a great customer experience directly affects the success of financial services and insurance companies. Specifically, the critical factors that help build brand loyalty and company trust are high-quality mobile app, website, and products as well as reliable customer service.

Mao Gen Foo, Head of Southeast Asia, Qualtrics, explained:

“Despite relatively high levels of satisfaction with financial service providers across Southeast Asia, Qualtrics research shows consumers are willing to switch for better experiences elsewhere. By standardising and taking full control of its customer experience with Qualtrics, Aviva Singlife will be able to get to know and service customers better at every touchpoint. This is a significant ability, helping the company create a world-class customer experience helping it attract and retain customers in the financial services industry.”

Under the Qualtrics partnership, Aviva Singlife will be able to:

• Make consistent, targeted improvements to the customer journey
• Utilise several different engagements and channels when engaging with its 1.5 million customers
• Resolve customer issues faster leveraging intelligent, automated workflows
• Take advantage of Qualtrics’ recently opened data centre in Singapore for in-depth analysis of customer and employee experience to further the company’s growth.

In addition, Aviva Singlife has also collaborated with Qualtrics Research Services for a large market research study to help the insurer to keep abreast of the evolving consumer and industry needs. The data gathered from the research has provided the entire organisation with actionable customer intelligence to enable them to make informed decisions when innovating products or giving advice and drive key organisational outcomes.

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With SAP Customer Data Platform, the business solutions provider aims to redefine the customer experience across every engagement—from commerce and marketing to sales and service by helping companies:

• enable customer-centric business models
• engage customers on their preferred terms and channels
• gain the flexibility and agility necessary to manage the volume, variety, and velocity of data and deliver market-differentiating customer experiences at scale

The solution further aims to address emerging customer data challenges, namely:

• unifying customer data from multiple applications and databases
• the evolving data privacy climate
• an inability to manage data volume

SAP Customer Experience President Bob Stutz notes:

“Although CDP products have always been on the market, SAP Customer Data Platform opens up new possibilities for CDP. SAP Customer Data Platform is one of the most advanced enterprise-grade CDPs. By integrating office, back-office, and experience data to deliver a truly personalized experience on the channels your customers want, you can grow anonymous users into known customers and increase their loyalty as only SAP can.”

A Distinct Set of Features for an Enhanced Customer Experience 

According to SAP executives, what makes its newest customer experience software solution different from other CDPs is its data governance capabilities. To ensure a secure and compliant digital customer profile, SAP Customer Data Platform leverages SAP Enterprise Consent and Preference Management solutions.

Moreover, SAP Customer Data Platform is built on top of SAP Customer Data Cloud solutions, which are powered by technology from Gigya, an identity management platform acquired by SAP in 2017.

According to the German multinational, SAP Customer Data Platform “serves as the connective tissue of the real-time profile, powering a customer insight foundation to deliver relevant conversation whenever the customer wants to engage with the brand.”

Stutz explains that the new customer experience software will enable users to provide hyper-personalized engagements based on a comprehensive view of the customer:

“Most CDPs are really geared toward marketing. Ours can do marketing scenarios, but more importantly, it can handle scenarios from commerce, it can tie the back-end into the front.”

Additionally, SAP Customer Data Platform can be integrated with third-party technology providers, according to Thomas Saueressig, Executive Board member and head of SAP Product Engineering.

Other highlights of the customer experience solution include:

• Provides holistic views of the customer through its ability to connect back-office data to the front office with the SAP Cloud Platform Master Data Integration service.
• Data privacy and governance capabilities for all regions.
• Dynamic data activation through the solution’s ability to calculate segmentation and activity indicators in real-time.

About SAP Japan

SAP Japan was established in 1992 as a Japanese corporation of SAP SE. 

SAP SE is the market leader in enterprise application software, helping companies of all sizes and in all industries run at their best: 77{aa282f308afcc222aaa21b0478c79e01a8fedd01972e2180867097bd93930f22} of the world’s transaction revenue touches an SAP system. SAP has 440,000 in over 180 countries and has over 21,000 partners globally.

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