CGI specialists help AXA Canada management to develop a comprehensive
e-Business strategy
As a subsidiary of one of the world’s largest insurance companies,
AXA Canada must design its product distribution strategies according to
regional market characteristics, while at the same time staying in tune
with corporate developments elsewhere on the planet.
This of course, became even more of an issue when the company decided
to clarify its e-Business vision for Canada, as nothing on the Web can
really be considered strictly “local”. AXA knew that looking
at e-Business also required an in-depth re-evaluation of its competitive
environment and its Customer Relationship Management (CRM) approaches.
AXA management asked CGI to help in supporting and structuring its reflection
and identifying e-Business strategies that could help in reaching its
business goals. As a long time IT supplier, CGI was able to assign a top-level
expert, mastering both e-Business and CRM – who also had intimate
knowledge of the Industry culture and business environment – to assist
AXA during that critical analytical process. CGI specialists in e-Business
and Insurance also supported AXA Management and contributed throughout
in related technology disciplines.
The Challenge
With banks, credit unions and other financial institutions getting into
the insurance game, direct distribution challenging the intermediary channel
and new players mushrooming on Internet portals, AXA Canada was compelled
to look very closely at market trends and forces. The company also knew
that any new strategy should help in building stronger relationships with
its clients and distributors as well as reinforcing its brand image.
Future approaches had to incorporate refined means of identifying and
qualifying ideal customers and creating bonds allowing for broader commercial
relationships – including the sale of other asset management and
asset protection products. This process required enhancing the intermediary
channel’s relationships with both AXA and the consumers, as well
as identifying and establishing active customer relationships through
the Internet.
CGI was asked to provide AXA’s management with high-level assistance
in designing an e-Business strategic plan setting the roadmap for a three-year
cycle – and outline strategic initiatives (including quick-win projects)
for that period. But, first came the complex task of assessing AXA’s
competitive position in the Canadian marketplace.
CGI had, for quite awhile, been tracking and assessing the development
of e-Business in the insurance marketplace, and was quickly able to present
AXA with the Canadian perspective it needed in order to take action.
The Strategy
Right from the start, the project was considered from a business rather
than from a technological standpoint, closely linking CRM and e-commerce
initiatives – through to the staging of particular activities and
the internal governance structure to support them. Proposed solutions
had to offer clear benefit potential and capitalize on existing corporate
investments. Cost reductions, improved relationships with customers and
brokers, as well as increased sales were on everyone’s agenda.
Working very closely with AXA senior management, CGI first proceeded with
a solid assessment of the company’s current situation, which included
evaluating the impact of the “new” competitors such as online
distributors, Web-based brokers and financial or general retail portals
which pertain to carry competitive products.
Then the actual “roadmap”, precisely aligned with corporate
objectives, was established for a three-year period. It clearly outlined
the impacts of proposed e-Business initiatives and CRM options as well
as assessing the risks and potential benefits of each solution. Opportunities
and approaches were identified, taking into consideration the current
corporate structures. Whenever possible, the strategy also considered
the possible re-utilization of existing e-Business or IT assets belonging
to AXA or its worldwide corporate family.
The Technology
CGI assisted AXA Canada in assessing many of its current initiatives,
identifying projects which could be aligned with the strategic road map,
and those that needed further clarification, attention, or should simply
be delayed.
For the development of customer and broker portals, an early project,
CGI established the parameters the bidders should respond to (with an
RFP process) and assisted in the proposal’s evaluation process, including
the various technology options.
The Results
As a result of the work done with CGI, AXA Canada now has a comprehensive
e-Business roadmap that clearly outlines the initiatives to be addressed
over the next few years. The plan assesses all the potential impacts of
the proposed e-Business/CRM strategies on the organization, including
the required change to investment levels and the possible overlaps. An
on-going strategic planning and measurement model detailing the successes
of those initiatives and an organizational model supporting the rapid
adoption of e-Business within the company were also provided.
|
