IoT based loyalty & reward programs
Loyalty and reward programmes for low-risk behaviour are conquering the insurance industry. The Internet of Things (IoT) and msg support you in this endeavour. Gain comprehensive insights into your customers' behaviour with our IoT solutions. On this basis, you can create behaviour-based insurance offers (Usage Based Insurance, UBI) and loyalty programmes that reward a low-risk lifestyle.
We have extensive experience in digitalisation and IoT, particularly in the development of IoT platform solutions. With our Internet of Things Analyzer (IoTA), we offer you an effective solution for collecting, analysing and using customer data. We also advise and support you in the development and design of IoT-based loyalty and reward programmes that are a perfect fit for you and your offering. We have developed a new solution specifically for this purpose, the Loyalty & Reward Accelerator. Contact us - we will be happy to advise you!
Your benefits with msg and IoT
- More interaction with your customers
- Deeper and solid insights into customer behaviour
- Better customer retention and acquisition
- Raise customer awareness of risk-conscious behaviour
- Reduction of risks and claims
- More detailed risk assessment
- Transparent premium structure
- Faster claims processing
- Lower costs
With expert advice and our Insurance Loyalty & Reward Accelerator, we support you in developing a programme that is perfectly tailored to your requirements and your customers, as well as in linking innovative IoT sensor technologies with traditional insurance products. Our product accelerator is entirely in the cloud. It includes building blocks that can be quickly and easily implemented in your systems, customised and designed as required.
Loyalty & Reward with SAP Cloud Platform
Challenges
- Little interest in financial and insurance products
- Few opportunities to interact with customers
- No incentives for active risk minimisation
- Risk calculation is based on fixed risk characteristics and not on real customer behaviour
Our solution: IoT & Loyalty
- Connect with your customers via various IoT devices
- Collect information about your customers' risk behaviour
- Reward information sharing and risk-aware behaviour
- Establish online portals and customer communities
Internet of Things Analyser (IoTA): Advantages at a glance
IoTA is a cloud-based software toolkit for collecting, analysing, modelling and providing behavioural data from various sources (sensors from IoT devices, policy systems, third-party services). The core of the solution: a sophisticated IoT input data-based scoring engine for actuarial data analysis. This won us the global SAP and HERE IoT Apps Challenge 2016.
- Calculation of individual risks with full transparency
- Insurance offers according to individual risk profiles
- Detailed data analysis with standardised and individual attributes
- Development of our own IoT portfolio for all business areas
- Development, testing and implementation of own scoring models for loyalty programmes
- Consideration of data protection issues
Easy integration into existing web portals and mobile apps as well as backend systems
Reward your customers with loyalty & reward programs. When can we help you?
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