INSURANCE SECTOR

Model Case Study: “New & Cross”

THE PREMISE

A group of agencies operating in the insurance sector carries out merger actions aimed at containing management costs.

Our collaboration is required to favor the process of transformation and homogenization of the various professional skills present in the company, to define the new managerial approach aimed at containing the dropout rate and at developing the business.

Objective: maintenance and development of the customer base.

ANALYSIS

The Customer Experience analysis revealed the strong gaps between the various managerial styles in the various agencies.

81% of customers come into contact with the Agency only when paying the premium.

23% complain of problems related to logistics (new relocations).

21% are at risk of abandonment (min 8%, max 35%).

Only 21% of customers are multi-product (min 16%, max 27%).

Only 19% are active in the “word of mouth” system (min -32%, max 41%).

16% belong to the category of detractors (min 35%, max 3%).

RESULTS

The 15% decrease in the rate of single-policy customers, together with the increase in the number of new customers (about 10%) produced a significant increase in overall revenues (insurance premiums).

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