Our In-Sourced Solution Featuring an Insurance Client
The UK general insurance industry is the third-largest market in the world. It’s a large, mature and well developed marketplace which has a high openness to new entrants. The most competitive markets are motor insurance followed by home insurance.
Our client is one of the fastest growing insurance companies in the UK. They’ve created distinct car insurance brands with ground-breaking policies and are regularly featured as the most competitively priced insurer on a number of price comparison websites.
Our client experienced exponential growth as a result of its innovative offering, advertising and the introduction of price comparison sites. In less than five years its customer base grew to over one million, the fastest growth of any insurer. This rapid growth resulted in the company requiring an FSA accredited partner to provide highly skilled and motivated staff to deliver exceptional customer service and realise sales opportunities.
The challenge was to:
- Provide 50 fully vetted advisors as part of an in-sourced solution within four weeks.
- Deliver training accredited by the client.
- Support their in-house contact centre and provide additional capacity and flexibility.
- Deliver exceptional customer service.
- Realise up-sell opportunities to increase customer lifetime value.
- Reduce the cost to serve.
We leveraged our in-house recruitment expertise and worked alongside the client in defining the role profile. A bespoke assessment process was designed to incorporate a greater focus on written communication skills, customer relationship building and up-selling competency. New procedures were put in place, and a full-time dedicated resource was provided to manage the complex range of pre-employment checks. We also established a customer service function dealing with enquiries, mid-term adjustments and account calls, as well as providing a sales-through-service offering to enhance sales and improve the customer lifetime value.
In summary, our solution included:
- Accelerated ramp up of fully vetted and credit checked employees.
- In-sourced solution to utilise existing capacity and reduce lead time to ‘go live’.
- Created a flexible cost base to drive down the cost to serve.
- Introduced a robust staffing model to support key service pinch points for the client.
- Provided an innovative service and sales blend to drive maximum value from all customer interactions.
We provided an in-sourced solution which removed any IT set-up costs
Delivered fully vetted and trained advisors, allowing our client to focus on their marketing strategies
We reduced call handling times by 8%
Customer service teams improved breakdown cover add-ons by 130%
Customer service teams improved Motor Legal Protection cover by over 400%
Sales teams improved breakdown cover add-ons by over 30%
Sales teams delivered Motor Legal Protection cover 20% above target
We directly contributed to over £3.3m of revenue through cross-selling
Achieved 6% above target on quality and compliance metrics
Our performance was awarded with two successive extensions, and we are now the sole strategic outsource partner for our client
The outcome was the successful delivery of the resource within the timescales to ensure we supported our client through their unprecedented growth periods. We continue to add value through our proven sales and service approach.