Post on 09-Apr-2020
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The Transformational CRM The Transformational CRM –– Siebel 8.0 Financials Services SolutionsSiebel 8.0 Financials Services Solutions
Taerim ChungSenior Sales Consultant, CRM BU, Oracle Korea Ltd.
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The Challenges Today
Siebel 8.0 Key Messages
Banking & Capital Markets CRM Solutions
Insurance CRM Solutions
Summary
Topics Covered
2
The Challenges Today
Siebel 8.0 Key Messages
Banking & Capital Markets CRM Solutions
Insurance CRM Solutions
Summary
Topics Covered
3
The CEO’s Agenda: “Growth is the Focus”*
Challenges• Inconsistent Customer Experience• Business Model Complexity• Technology Limitations
Challenges• Inconsistent Customer Experience• Business Model Complexity• Technology Limitations
The Economist: CEO Briefing – “Corporate Priorities for 2006 and beyond”
Strategic Priorities• Increase Market Share• Increase Revenue• Acquire New Customers• Enhance Value of Existing Customers
Strategic Priorities• Increase Market Share• Increase Revenue• Acquire New Customers• Enhance Value of Existing Customers
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“I believe I should pay for performance, but I don’t think performance is a simple thing. If you’re running a business, you have to do marketing well, hiring well, training people well. You’ve got to do your ops well, your systems well. You’ve got to invest in new branches and new sales and new traders. It’s the whole package. In a lot of businesses you can get a lot of profit, but you’ve taken on too much risk and you’re not investing enough for the future….”
Jamie DimonCEO of J.P. Morgan Chase
“Growth” is assessed as Performance, which is the complex package –Marketing, Sales, Hiring, Training, and Operations are done well…
The McKinsey Quarterly, 2006 Number 4
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We are saying “Transformational Growth”…
•• IdentifyIdentify your best customer and prospects• Customer who are most loyal and making the biggest commitments to
your business • Identify segments of prospects offering high margin or volume
•• InnovateInnovate to capture growth markets and share of wallet• Utilize the best real-time insight of customer requirements • Combine the best assets of your ecosystem into compelling new offers
•• EnsureEnsure the highest level of customer loyalty• Communicate widely to ensure consistency• Dramatically reduce customer acquisition costs
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The Challenges Today
Siebel 8.0 Key Messages
Banking & Capital Markets CRM Solutions
Insurance CRM Solutions
Summary
Topics Covered
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Siebel CRM 8.0 – Transformational CRM
EmpowerEmpowerUsersUsers
Provide proactive, real time insightIntelligence at the moment of interactionFlexible, role-based user interface
Enable Enable Business Business
ResponsiveResponsive
Rapid deployment of business process changesEnd-to-end enterprise-class integration Full SOA compliance
Ensure ValueEnsure ValueSupport multiple deployment optionsLargest ecosystem for implementation successMost vertical specific expertise
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What’s new in Siebel 8 for Financial Services?
• Platform Enhancements• Task-based UI• Integrated Rules Engine• Microsoft Integration
• Enhanced Insurance Claims Management• Automatic Reserve & Coverage• Payment & Invoice• Subrogation• Fraud
BankingBanking
TellerMarketing,
Sales, Service
CoreBanking Financials Human
ResourcesBankingAnalytics
InsuranceInsurance
Network Management Financials
Order & Order & ServiceService
FulfillmentFulfillment
Order &Service
Fulfillment
Underwriting Policy Admin
ClaimsManagement
HumanResources
InsuranceAnalytics
Agent/Channel
MgmtFinancials/Profitability
Task-Based User InterfaceSimplifying Complex Tasks for Banking, Insurance and Capital Markets front-office users
Task Pane shows steps to users
Task Pane shows steps to users
Applets show only needed infoApplets show
only needed infoRadio buttons
enable decisionsRadio buttons
enable decisions
Business Processes on the
desktop
Business Processes on the
desktop
Faster to LearnFaster to Learn
Easier to Measure &
Improve
Easier to Measure &
ImproveExample.Account OriginationClaims IntakeCase management – Dispute Resolution
Haley Rules Engine IntegrationRemove the Need for Coding Expertise
Siebel Business Rules is a tight integration to an industry leading rules vendor Haley Systems. Changes in your business strategies result from changes in factors such as business conditions, inventory levels, seasons, and changes in personnel. Your CRM applications should adapt quickly to these changes and promptly reflect the changes in business priorities.
Script Implementation
Rules implementation
Example. Accepting applications for home loans over the phone requires front-line employees to perform complex eligibility analysis over the phone or risk losing the customer. Not only can challenging calculations be eliminated levering the new rules engine in Siebel 8, if an authorized manager notices that too many applications are being rejected due to a high credit card score requirement, the score could be re-set easily and quickly applied within the process.
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Microsoft Desktop Integration
Microsoft Outlook
Microsoft Outlook
Microsoft Word & Excel
Microsoft Word & Excel
Microsoft SharepointMicrosoft
Sharepoint
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Enabling Transformational CRM through Real-time Intelligent Interactions
• Rapidly deployed FSI Analytic Applications
• Instant analysis through the real-time decision engine
• Function-specific and role-based
• Guided analytics capturing best practices
• Insight provided in context with operational apps
Executives
Managers
Front-lineEmployees
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The Challenges Today
Siebel 8.0 Key Messages
Banking & Capital Markets CRM Solutions
Insurance CRM Solutions
Summary
Topics Covered
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“The average cost to acquire a new customer is $3,500 in the US”American Bankers Association
“IT spend on compliance will grow annually at 14.1% and reach $3.0 billion by 2006” The Info Shop
“In the near to intermediate term, the industry is expected to continue to experience pressures on its net interest margin” AM Best
The Challenges We’re Hearing – Banking & Capital Markets
Grow Business & Grow Business & CrossCross--Sell to CustomersSell to Customers
Compliance & Compliance & Regulatory PressuresRegulatory Pressures
Scale costs to match Scale costs to match market opportunitymarket opportunity
Strategic response: brokerage firms must develop new products and energize old product lines to gain a competitive edge, enhance revenue and obtain a greater share of client assets
Facing increased compliance obligations, a dynamic business and IT environment, fragmented risk and compliance projects, and exposure to tort and criminal liability, organizations are seeking a formalized approach to managing enterprise risk and compliance.
When fully realized, STP will provide asset managers, broker/dealers, custodians and other financial services players with tremendous benefits, including greatly shortened processing cycles, reduced settlement risk and lower operating costs.
Grow Assets Under Grow Assets Under Management & Capture Management & Capture
Wallet ShareWallet Share
Compliance & Compliance & Regulatory PressuresRegulatory Pressures
Straight Through Straight Through Processing Processing ––
Trade Initiation to Trade Initiation to SettlementSettlement
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Service Management
Service Service ManagementManagement
• Real-time Balances• Account Details &
Transaction History• Contact & Opportunity
Management• Interaction History
Opening / FulfillmentOpening / Opening / FulfillmentFulfillment
Guided SellingGuided Guided SellingSelling
Single View of CustomerSingle View Single View of Customerof Customer
• Cross-Sell/Up-sell• Sales Offers• Needs Analysis• Product Catalog• Product Features /
Benefits
• Multi-product application processes
• Data capture• Document fulfillment• Account Funding
• Financial Transaction Support
• Common Service Issue Management
Web Services
Customer Centric Sales & Service
Consistent customer experience across channelsConsistent customer experience across channels
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Branch Sales & Service
Branch Sales & Branch Sales & ServiceService Call CenterCall CenterCall Center LendingLendingLending InternetInternetInternet Branch TellerBranch TellerBranch Teller
Leads & Referrals
Guided Selling
Origination & Fulfillment Maintenance Transactions
CampaignsOffersIncentive Tracking
Customer Centric Banking Solutions Across Channels
Needs AnalysisTask User InterfaceCollaborative Sales
Deposit OriginationLending OriginationDocument Generation
CashboxesElectronic JournalStore & Forward
Self ServiceActivitiesService Management
Service MasterProducts Master Customer Master Marketing Master
CRM Core ComponentsCRM Core Components
Real Time Decision Engine
Assignment & Routing Engine
Rules Engine
Product Configuration Engine
Workflow Engine Financial Transaction Engine
Master Data ManagementMaster Data Management
ChannelsChannels
FunctionsFunctions
Consistent Customer Experience Across ChannelsConsistent Customer Experience Across Channels
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Financial Services Account Origination
Account Information
End-to-End Account Origination Process
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Financial Services Account Origination1. Account Setup
Relative product categories can
customized
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Financial Services Account Origination2. Applicant
Broaden Applicant Information
Single View of Customer
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Financial Services Account Origination3. Assessments
Pre-defined Assessments
TemplatesWith the customer
interactions, assess the value
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Financial Services Account Origination4. Closing
Integrated with Financial/legacy
systems
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Single Source Data RepositorySingle Source Single Source
Data RepositoryData Repository
• Real-time Balance & Positions
• Account Details & Customer Profiles
• Opportunity Management• Activity Management• Account aggregation for
Investment Planning
Campaign & Lead
Management
Campaign & Campaign & Lead Lead
ManagementManagement
Consistent customer experience across channelsConsistent customer experience across channelsEmbedded Customer Analytics
Embedded Embedded Customer Customer AnalyticsAnalytics
360 View of Customer
360 View of 360 View of CustomerCustomer
• ROI analysis on Campaigns / Leads
• RTD for next best offer• Customer Profitability• Customer data driven
business insight• Regulatory & Compliance
monitoring
• Email Management• Customer segmentation
• Affluent• Mass consumer• HNW
• RTD – Up/Cross sell• Multi-channel execution
• Financial Advisor• Call Center • Web
• Financial Transaction Support• Best Execution Capture• Contact / Data Management• Compliance / Risk controls • Customer life-cycle• Customer inquiry Analysis
Web Services
Customer Centricity increases AUM
Oracle CRM, ICM, Campaign Management and OBA
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The Challenges Today
Siebel 8.0 Key Messages
Banking & Capital Markets CRM Solutions
Insurance CRM Solutions
Summary
Topics Covered
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The Challenges We’re Hearing – Insurance Markets
“In early 2005, the four largest brokerage firms negotiated regulatory settlements concerning, among other things, their compensation practices.Following their settlements, some firms altered their long-standing practices and restructured their operations.”- HRH 2005 Annual Report
“… the big challenge is now to double our effort and focus on operational excellence and growth - CEO Zurich Financial Services James Schiro -Insurance Journal - January 26, 2006
A 2005 Forrester report shows an amazing 94% of financial services firms surveyed indicated that improving the customer experience was Very Important or critical.
“A chasm is growing between insurers using state-of-the-art analytics and those who aren’t… The ‘haves’ will be able to write business at the margins they target. The ‘have nots’ will fall victim to adverse selection…the bar will rise continually as competition drives weaker players from the field.” - Frank J. Coyne, chairman, president and chief executive officer, ISO - ISOtech, 2006
Focus on Growth & Focus on Growth & ProfitabilityProfitability
Tough regulatory Tough regulatory requirementsrequirements
Focus on customer Focus on customer satisfaction and satisfaction and
retentionretention
Continued Focus on Continued Focus on Cost ReductionCost Reduction
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Customer Centric End-to-End Insurance CRM Processes
Back OfficeFront Office
Fusion Middle Ware
FinancialManagement
FinancialFinancialManagementManagement
• Sales/Partner Automation
• Intelligent Marketing• Incentive Comp• Analytics
Enterprise Claims
Enterprise Enterprise ClaimsClaims
CustomerService
CustomerCustomerServiceService
DistributionManagementDistributionDistributionManagementManagement
• Call Center• Customer Data Hub• Content Mgt• Analytics
• Claims Mgt• Content Mgt• FSAH• Financial• Analytics
• Financial Control & Reporting
• Procure to Pay• Asset Mgt• Analytics
Human CapitalHuman Human CapitalCapital
• Global Core HR• Work Force
Delivery• Talent Mgt• Analytics
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End-to-End Claims Fuctionality
Business Rules Tied to Loss Type
Pre-built Fuctionality
Integrated Catastrophe Management
Embedded Predictive
Intelligence
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The Challenges Today
Siebel 8.0 Key Messages
Banking & Capital Markets CRM Solutions
Insurance CRM Solutions
Summary
Topics Covered
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Summary: Oracle Siebel 8.0 for FSI
Empower Users, Enable Responsiveness, & Ensure Value
Siebel Claims 8.0 – Complete End-to-End P&C Insurance Claims Solution
SOA Enabled and Move Closer to Full SOA Compliance
Strong Vision & Commitment for Integrated Front-to-Back FSI Applications
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