CASE STUDY

Customer Journey Analytics Helps an Insurance Service Provider Target Potential Prospects | Quantzig

Dec 12, 2019

What is Customer Journey Analytics

Customer journey analytics revolves around the use of analytics methodologies and data mining techniques to weave together and draw conclusive insights from data sets obtained at every touchpoint.

Our customer journey analytics solutions act as a powerful tool that helps businesses to analyze customer needs and engage with them through targeted campaigns. What makes it even more essential is that it empowers you to analyze millions of data points in real-time, aiding the discovery and analysis of the most profitable customer groups. As such, prioritizing customer journey analytics can bring in new business opportunities and help drive the business forward by increasing profits, reducing churn, and enhancing the overall customer journey.

About the Client

The client is a leading insurance services provider based out of Germany, operating in more than 20+ markets with a growing customer base spread across the globe.

Business Challenge

The insurance service provider faced a decelerating profit margin due to the challenges in acquiring prospects and engaging members. Their challenges were further compounded with the rollout of the new healthcare insurance policy in Germany, as they were not equipped with the analytics tools to identify and target potential prospects. Besides, they faced several challenges in engaging members for better health management. To tackle these issues, the client approached Quantzig seeking a comprehensive customer journey analytics based approach to analyze customer journeys and drive profitable growth.

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Solution Offered

Though the client had access to multiple data sources, they lacked a robust data management system that could integrate data obtained from disparate sources. To help them address this issue Quanztig leveraged customer journey analytics to collate customer data sets from multiple touchpoints including data from feedback forms, in-store data, customer surveys, and transaction data sets.

In the second phase of the engagement, our analytics experts built a customized customer journey analytics platform to integrate these data sets with customer interaction history to gain better clarity into the digital customer journey. A detailed analysis of these data sets using customer journey analytics led to the discovery of actionable insights that helped identify the root cause of attrition. Quantzig’s customer journey analytics solutions also helped the client deploy dashboards for interactive data visualizations which helped them uncover the root cause of the challenges faced by them.

Result

With Quantzig’s customer journey analytics solutions, the insurance service provider was able to:

  • Spot trends in customer journeys and deploy suitable strategies to enhance acquisition
  • Deploy dashboards for interactive data visualizations with ongoing data feeds that threw light on factors driving CX, customer interactions, and sentiments
  • Improve conversion rate by 13%

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3 Steps to Build a Customer Journey Analytics Platform

Customer Journey Analysis

Analyze behavioral data sets obtained from multiple customer journey touchpoints to uncover actionable insights and create unique groups based on the interactions.

Customer Journey Mapping

Visualize your customer’s journey using customer journey maps that help track and monitor interactions through real-time dashboards.

Customer Journey Orchestration

Leverage customer journey analytics to create unique customer journey analytics platforms that automate personalized interactions and improve customer experience to drive desirable outcomes.

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