Travelers

Business Challenge

Travelers Personal Insurance is focused on delivering value in the eyes of the customer. Across the enterprise, employees were invited to join an analytical business challenge to understand the impact of an insurance experience, such as a claim or coverage change, on customer loyalty and actions. Participants were asked to explore customer data and test their Think Customer hypothesis. This adventure deepens the company’s understanding of the impacts of customer experience on insurance performance, which will help grow Travelers’ competitive advantage and strengthen its data culture.

Analytics Solution

To complement its advanced product and claim data and analytics acumen, Travelers has invested in a superior cloud infrastructure to store legacy data elements and new data such as master data management, real time events, voice of customer feedback and servicing channel details. The company is focused on expanding the application of data and analytics beyond just managing risk — including using it to build great experiences for customers and agents and driving productivity in the way Travelers’ teams work. Advancing analytics to insights starts with high quality, accessible, multi-faceted data assets. The company’s customer and operations exploration data were curated and transformed into an analytical consumption layer to encourage exploration with a focus on end-to-end customer insights.

Impact

Travelers’ community responded positively to the Think Customer challenge. Employees engaged easily with front-facing technologies that accessed the analytical data asset in Snowflake. Descriptive insights narrating typical customer journeys were shared, as well as exploring patterns and correlations to describe why events took place. These efforts help to advance analytics within Travelers and better enable customer analytics, such as assessing the financial value of customer loyalty. These new perspectives lead to new questions and insights to be part of the transform agenda at Travelers Personal Insurance and to be the best at protecting what people value most.