Presentation Only: Case Study for Implementing Successful eBilling Strategies
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Transcript of Presentation Only: Case Study for Implementing Successful eBilling Strategies
1Western Union Confidential
Thank you for joining us.The presentation will begin shortly.
2Western Union Confidential
Case Study for Implementing Successful eBilling Strategies
Presented by:
Jim Flynn – Plymouth Rock Assurance
Barrie Arnold – Striata
Lori Beck – Western Union Payments
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Key Topics
Industry research & consumer behavior
How Plymouth Rock’s PUSH eBilling solution works
Plymouth Rock’s eBilling experience
Plymouth Rock & eBills
Results
Challenges
Future plans
Wrap up and questions
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Is eBilling just a Payment Solution?
How are you managing:Phishing / Identity Theft Threats
PCI Compliance
NACHA Compliance
Email Security & Deliverability
Website Security
Customer Preferences
Create a specialist team with a dedicated budgetOR
Outsource it to the experts
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Key Considerations for eBilling
3 critical components to Electronic Billing & Payments:
1. Technology– Secure, robust, scalable– Can your technology be used across the enterprise?
2. Strategy– Enrollment & adoption– Provide consumer payment choices– Payment cycle reduction – Marketing
3. Ongoing Services– Adoption– Email address collection– Email deliverability (avoiding spam filters)– Tracking & reporting
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Group Question #1
Is your company using eBilling today?
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Forrester Research: Feb 2010
• Less than half of US online adults with insurance use online self-service
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Forrester Research Continued: Key Findings
Difficulty with login is a major issueIf delivery of documents doesn’t happen on a regular basis, users tend to struggle more with remembering how to “access” their online profiles.
Low adoption is consistent across generationsThere is only a 14% gap between online Gen Y’ers (ages 18 to 29) and Seniors (65 plus) who have not used online self-service.
Adoption needs a formal strategy & toolbox of tacticsCustomer behavior won’t change overnight. A comprehensive list of tactics and getting buy-in / participation from all departments is necessary to foster real change in customer behavior & adoption rates.
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Consumer Billing Preferences: InfoTrends
“The Future of Electronic Bill Presentment & Payment in North America, InfoTrends, 2010”
Email inbox is overwhelmingly the consumer’s
eDelivery preference
Email inbox is overwhelmingly the consumer’s
eDelivery preference
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Gen Y: Prefers to Receive Bills Through Email Versus Paper StatementsSource: Q1 2011 Western Union® Payments Money Mindset Index
Q47: How would you prefer to receive your bill statements?
Percent of Consumers
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Consumers Are Moving Toward Electronic Channels Source: Q1 2011 Western Union® Payments Money Mindset Index
Q11: In the last 6 months, have your bill payment practices changed in any of the following ways?
Percent of Consumers
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Reasons for Bill Payment Behavior Changes
Aite Group Survey of 4,696 U.S. consumers, July 2010
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Group Question #2
Plymouth Rock has found that customers now expect eBilling and more electronic payment options.
Have you seen similar changes in customer behavior and preference?
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eBill Adoption Rates are GrowingSource: eBilling Benchmarking Study, NACHA CEBP and Blueflame Consulting, January 2010
Overall, 82% of participants report increasing adoption of eBills with the fastest growth among Insurance over the past two years.
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eBilling Benefits CustomersSource: eBilling Benchmarking Study, NACHA CEBP and Blueflame Consulting, January 2010
Billers rate the following benefits for customers in moving from paper to electronic billing statements.
In order, with most compelling first:
• Convenience – viewing and clicking to pay in one step• Increased ease of use• Can pay bills at the last minute• Can pay bills directly through their bank• Saves postage and handling• No more stacks of paper and clutter• Electronic bills are more secure than bills in mail
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Group Question #3
If you’re using eBilling, what adoption rates have you achieved?
A. 0 – 5%?
B. 6 – 10%?
C. 11 – 15%
D. 15 – 20%
E. 20%+
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Traditional Challenges to eBilling
1. Customer indifference: Doing nothing is the path of least resistance
2. Forced enrollment: The registration process is the biggest deterrent
3. Log-in challenges: Trying to remember each log-in process
4. Is it really more convenient: Fetching my bill from a website is less convenient than receiving it
5. Mobile matters: Can I view it (securely) on my phone or tablet?
6. All customers are not equal: Individuals have different needs to commercial customers
The key is understanding the customer
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The Keys to Achieving Critical Mass
Security, Ease of Use & Convenience
Eliminate proactive enrollment – KEY FACTOR
No choosing / remembering of username / password
Collect customer’s email address at account activation or all other touch points
Send bill / policy as a secure PDF attachment via email:1. One click to open, One click to decrypt
2. Looks identical to paper document, all detail included
3. One click to pay (no website to visit)
4. Expanded payment options
5. Personalized marketing opportunities
3 clicks to decrypt, view & pay without linking to a portal
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Delivering Opt-in Email eliminates ‘enrollment apathy’
Customers receive a branded,
authenticated email invitation
Customers receive a branded,
authenticated email invitation
1-click to sign-up No complex
online registration
1-click to sign-up No complex
online registration
Sample PDF docattached to intro
Sample PDF docattached to intro
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Customer receives encrypted PDF Bill via email
Exact replica of paper document attached as a
secure PDF
Exact replica of paper document attached as a
secure PDF
Authentication box for increased
customer security
Authentication box for increased
customer security
Clear, intuitive instructions on decrypting PDF
Clear, intuitive instructions on decrypting PDF
Personalizable marketing real estate
Personalizable marketing real estate
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No username / password to look-up or remember
Customer enters ‘shared secret’ to access PDF bill –
e.g. zip code
Customer enters ‘shared secret’ to access PDF bill –
e.g. zip code
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1-click payments made directly from within PDF bill
Instant payment
directly from within the
Secure PDF bill
Instant payment
directly from within the
Secure PDF bill
Payment details can be partially pre-populated for increased
security & convenience
Payment details can be partially pre-populated for increased
security & convenience
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Secure, convenient viewing on computer or mobile device
PDF is identical to paper version
PDF is identical to paper version
View, print & save PDF documentOFFLINE
View, print & save PDF documentOFFLINE
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Promotions in transactional
emails have high click-through rate
Promotions in transactional
emails have high click-through rate
Payment confirmation
email reduces call center
volume
Payment confirmation
email reduces call center
volume
Payment Confirmation – marketing opportunity
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Plymouth Rock Overview
Multiple operating companies
Approximately 500,000 policies in force
Western Union client since 2005
Striata client since 2007
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Plymouth Rock & eBills
Primarily conceived as a customer satisfaction measureMYLES program “Make Your Life Easier Services”
Customer value
Innovative New and different
Getting an email is easy and convenient
Time to market considerationsFaster solution than building an Internet portal
Cost savingsNew business/renewal policy packages - $2.85 (1x / year)
Policy change packages - $0.86 (2x / year)
Invoices - $0.59 (4x / year)
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Results
No fee option for consumers Card & ACH payment options
Since 2009, eBill payments have doubled
One division is at 23% adoption, another is at 17%
eBills result in electronic channel lift5%+ Internet payment lift since implementing eBills
Consumers report satisfactionMore convenient to electronically file PDF
Seamless integration between Western Union & Striata
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Challenges
Internal buy-in: Marketing was skeptical of ‘PUSH’The solution required CEO approval
Perceived expense of the eBillClean process that offered a lot of capabilities
Multiple divisions required a well-coordinated implementation
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Next Steps
Capitalize on security of a push solution vs. traditional links
Recently implemented a discount to premium upon enrollment
Recently completed email append campaign
Continue to gather email addresses
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Take aways from Plymouth Rock’s Solution
Uniqueness of the solutionCustomers aren't forced to log-in to a portal
Greater customer convenienceEasy to view, pay, print, and save
Improved marketing capabilities
Increased security Especially in light of recent data breaches & phishing scams
Ease of implementation
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Questions?
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Contact Information
Jim Flynn:[email protected]
Barrie Arnold:[email protected]
Lori Beck:[email protected]