SEPTEMBER - 2022 retailtechinsights.com 19TRANSFORMATIONAL MARKETING: HOW TO EMBRACE A DATA-FIRST APPROACHCxo InsightsThe insurance industry is well positioned to pivot and embrace new data practices.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 organization starts with embracing the changes required to become truly data-driven. This means putting data science, analytics and IT at the center 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 organizational change from customer insight. For marketing, it's about driving strategic decision making and optimizing programs and campaigns based on near and real-time 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. By Neil Gardner, Chief Customer Officer, Generali AsiaWe have transformed this insight and data into three Customer Promises; Effortless Experiences, Personalized 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
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