RIXO

Extensive automation has become standard in practically all progressive industries, and it is now impacting even some traditionally conservative fields such as finance and insurance industries. This is the cornerstone upon which RIXO, a start-up company, is building its business model. RIXO is fully focused on end-to-end digital insurance management, which also includes smart automated analysis of existing or new insurance contracts of their clients, and recommending better alternatives.

Understanding the terms and conditions of an insurance contract, comparing offers from various insurance companies and choosing the best option is practically an impossible task for a layperson. That is why people usually contact an insurance agent who knows the market well and can make the process of choosing the right insurance option much easier. RIXO, on the other hand, is opting for maximum digitalization and automation of this process, with only a limited human role in it. It makes sense: all you need to have in order to compare offers based on fixed parameters is "just" an algorithm that is robust enough to substitute or even surpass human decision-making. RIXO was able to develop such algorithm. It uses machine learning to compare the offers from various insurance companies and chooses the best one for a particular client.

"We are using our unique knowledge base of insurance products on the Czech market and our in-house developed algorithm to asses the quality of existing insurance contracts, comparing offers from various insurance providers, and choosing the best available one for a particular client. That covers the technical aspect of the process," says RIXO.cz co-founder Martin Ždímal.

Another task for traditional insurance agents is to maintain personal contact with the client. In the online environment, the personal form of communication has to be substituted by digital communication that needs to be highly personalized for a specific client. To deliver on this front, RIXO chose a cloud CRM solution from Salesforce – specifically, the Service Cloud platform to handle the client base, and the Marketing Cloud platform for automation of marketing across various digital communication channels.

Every new client comes in contact with marketing automation as soon as they register through the RIXO online portal. What used to be a lengthy talk between the client and the agent is now a user-friendly online walkthrough in which the client specifies their needs in just a few steps. Whether they are interested in a new insurance contract or uploading and comparing their existing contracts, the process takes just a few minutes. It is done either online at RIXO.cz website, or through the mobile app, which is also connected to Salesforce.

Another benefit of implementing the Salesforce marketing solution is the possibility to use all the available online channels, i.e. the popular 'omnichannel communication' buzzword. The client may begin their registration process on their desktop computer, but as soon as they need to upload their existing home insurance contract, they can move to their smartphone with just one click and take a photo of the contract.

In case a client installs a RIXO mobile app, that channel will be automatically set as preferred for communication. In case the client prefers mobile or desktop web interface, the communication will flow through those channels. The user experience needs to adapt to the user's needs – not the other way round.

All these channels are administered through a single interface of the Marketing Cloud platform. Currently this concerns mainly email and SMS communication and support for the mobile app. In the future, it can be expanded by integrating social networks, digital advertising platforms or personalized landing pages. This single point of administration is a great way for RIXO to accelerate implementation of new solutions as well as testing various strategies to deliver the best user experience for their services.

The automation of CRM and marketing processes helps reduce the amount of human activities. The insurance agents may focus on personal contact on those occasions when it truly matters, and the marketers have a set of tools at their disposal to build a fully customer-centric experience. A solution like this is extremely scalable. The development is agile, processes may be adjusted easily, and the solution works well for one hundred clients as well as for half a million clients. That is a major competitive advantage for RIXO as a start-up service, and it enables rapid growth as well as easier roll-out from the Czech market into international markets.