Credit Suisse Privilege deploys Siebel Insurance platform

Source: Siebel Systems

Siebel Systems, Inc. (NASDAQ: SEBL), the leading provider of customer-facing solutions, today announced that Credit Suisse Privilege (CSP), a division of Winterthur Life Hong Kong, has grown sales of its investment products by 50 percent and reduced customer churn four-fold in the 18 months following the full deployment of Siebel Insurance.

Using Siebel Insurance, Siebel Systems' customer relationship management (CRM) solution designed specifically for the insurance industry, CSP is now generating more than 30 percent of its new business from existing clients, a 200 percent jump from pre-Siebel deployment figures.

"With savings and investment products becoming ever more critical elements in traditional insurance portfolio offerings, we required a customer-facing solution that would help us build on our leadership position within the financial services industry - by both attracting new customers and organically growing our base of existing client revenues," said Dallas Reid, Managing Director, CSP. "We selected Siebel Insurance because it was the only solution that delivered embedded best-practice business processes developed specifically for the insurance industry. In addition, the product clearly demonstrated the ability to scale with the dramatic growth of our operations."

Working with Headstrong, a Siebel Alliance Partner, CSP established a closed-loop marketing and sales process by integrating Siebel Insurance with CSP's existing back-end systems to perform seamless contact management, product management, and customer segmentation and profiling in one secure, integrated system. These capabilities enable CSP to develop, implement, and assess the effectiveness of targeted marketing campaigns. With a real-time view of customer information, CSP's consultants and call center agents can increase customer satisfaction by quickly and accurately resolving customer requests, while the marketing department is able to leverage the consolidated customer data to identify new opportunities for cross-selling and up-selling.

With Siebel Systems' industry-specific CRM solution, CSP also provides its 12,000 customers access to "Club Suisse Privileged Access" - one of the first Internet savings and portfolio investment management tools offered on an insurance platform in Hong Kong, providing customers with convenient online access to administer and monitor the performance of their investment portfolios.

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