8 Customer Onboarding challenges and their CCM Solutions

Customer Communication Management (CCM) Strategy resolving Customer On-Boarding Challenges

Customer Onboarding Experience has emerged as a key service differentiator in the banking, insurance, and financial services sectors. Almost 75% of all cross-sell opportunities lie within the first 3 months of new customer acquisition.

A robust customer communications strategy has great potential to control the customer experience during the onboarding of clients. From initial acknowledgment to the customer for receipt of their policy subscription application to bringing them on board with the complete understanding of policy benefits, inclusion, exclusion, claims process, and customer support options.

Best CCM Platform for Customer Communication Management

Customer onboarding communications are challenging and extremely complex as it involves collecting information pieces lying across multiple customers filled forms, data validation requirements, managing regulatory compliances, and requirement-based targeted communications. Among BFSI vertical, onboarding is most complex for the insurance segment, involving multiple documents, and customer communication like – welcome kits, policy documents, premium receipts, various notifications, and relevant cross-selling offers.

The lack of a robust, flexible, and scalable communications management platform is the most prominent barrier resulting in inconsistent user experience during the onboarding process. Some of the challenges faced by mid-sized insurance companies in achieving seamless customer communication are:

  • Siloed Data: Data is stored in multiple systems like Core Insurance Software, Policy Administration systems, Claims Management systems, and CRM. Data coming from multiple sources are curated each time for production. This involves manual interventions that affect turnaround time.
  • Communication Composition: Multiple systems are used for data management and content management. Communication for the different delivery mediums is created separately which takes time and effort.
  • Disjointed System: Lack of a central repository of content and data results in delay in the collation and is error-prone.
  • Managing high workload: When it comes to immediate scale-up, most legacy systems are not able to meet standard schedules. New customers signed up during peak, and receive communication late.

It is vital for insurance companies to adopt a robust and centralized system that has the ability to manage data inputs from multiple sources, validate them, run business rules for meaningful data output, centrally compose communications for multiple channels and deliver them seamlessly. Research shows that organizations using a centralized, omnichannel customer onboarding process, can achieve prominently improved results.

Customer Onboarding Challenges

There are many CCM platforms like- HP Exstream, GMC Inspire, Doxee, etc. that can help solve customer communication challenges.

  1. Centralized Process for taking data inputs from multiple sources, validations, and business rules for data output
  2. The Unified Process To Compose Documents and correspondence going through print, email, mobile, apps, and social media
  3. Templated Document Composition helps maintain consistency across delivery channels leaving no ambiguities in branding guidelines or the possibility of formatting errors
  4. Omni-channel Approach facilitates integrated composition and delivery of communications across channels; saves efforts and time
  5. Speed Processing helps with Real-Time Customer Onboarding in banks such as welcome kits, policy documents, payment receipts, notifications, promotional communications, etc.
  6. Hyper-personalized communications for effective client onboarding process for financial services
  7. A Robust and Scalable Tool that has the capacity of catering to increased workload/ commercial customer base in future
  8. Supports Innovative Communications techniques such as dynamic documents, and interactive documents that help make a great first impression on new customers’ onboarding

A good onboarding communications strategy has the potential to create good first impressions and get the best out of a customer in the value chain. Modern CCM tools not only help you enhance your productivity and efficiency but also bring in better positioning among customers.

CCM Investment: Challenge for a mid-size company?

A CCM tool helps transform onboarding communications processes, however, many small-mid size organizations find it difficult to have them in-house, because of high licensing costs or lack of expertise in managing. Until recently there was no alternative that could address such challenges, now since the introduction of CCM as managed services, organizations can avail the above benefits irrespective of their team expertise or investment capabilities. CCM as managed services is an innovative service proposition that is a step ahead as it mitigates the need of investing in expensive licenses or hiring and retaining an expert team.


CCM Investment and CCM Migration Infographic