2017 Winner Profile

Samsung Life Insurance / Customer Product Channel

Project Description:
Samsung Life Insurance (SLI) needed to find a way to improve its sales in a mature and saturated market. To do this, the company consolidated its siloed customer data and developed "Smart Advisor," which uses machine learning to help insurance sales agents understand which people to sell to, what to sell and how to sell it. Smart Advisor was deployed in May 2016 across 780 offices for 30,000 agents. Smart Advisor does everything from finding high quality sales prospects to recommending specific products and scripts based on individual customer profiles. The implementation of Smart Advisor significantly improved SLI's sales practices, contributing to an increase in year-over-year sales of 11 percent for 2016. Additionally, by implementing Smart Advisor, Samsung Life Insurance was able to save around $15 million annually — $10 million on training costs because agents no longer have to attend onsite training courses as online coaching is offered through tablets and $5 million on printing costs as paper processes are now digitized.
Business Functions:
Sales
Business Goal:
Customer Experience
CIO:
Janet Choi, Vice President
CEO:
Chang-Soo Kim, President
Headquarters:
Seoul, South Korea
Industry:
Insurance
Website:
http://www.samsunglife.com/companyeng/index.html
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