Context
With deep historical roots in local communities, a regional insurance provider is looking to accelerate its growth among urban customers in the retail market. This target audience—which places a high value on responsiveness and simple, seamless access to remote services, while still wanting to rely on branch offices when necessary—requires an evolution of the customer relationship model in urban areas.
The challenge, therefore, is to attract new urban customers and build their loyalty in order to support sustainable growth in this market.
This long-term transformation goal was also accompanied by a short-term challenge: improving the conversion of digital leads, the majority of which come from urban customers.
Objective
In this context, the insurer has retained Vertone to help it structure its development project targeting urban customers by:
- Developing a value proposition for urban dwellers
- Defining a distribution model to attract these customers in a way that best meets their needs
- Building a relational model to manage customer requests based on their expectations
- Implementing a communications plan to build brand awareness for the insurer in the targeted areas
Our approach: grounding the model in the realities of urban customers
Our project consisted of three key components:
Defining the priority target and its expectations:
- Definition of urban personas to identify key consumption patterns, flagship products, and drivers of multi-device adoption, as well as priority urban areas on which to focus development efforts
- Analysis and segmentation of urban areas, based on INSEE data and available client data, in order to define and delineate the urban area relevant to the credit union based on the identified personas
Model Design:
- Analysis of sales practices, facilitation of workshops, and formulation of strategic recommendations to improve the conversion of digital leads in the short term, focusing on four key areas: lead distribution and follow-up; reachability; the quality of the initial contact; and coordination between the remote call center and the local branch network
- Design of a distribution model and a long-term relationship model tailored to urban clienteles, developed collaboratively with project stakeholders
Implementation of the plan to achieve the short-term goal of converting digital leads and to begin rolling out the urban model, with an initial pilot in the insurer’s main urban area
Collective mobilization: a key factor in the success of the transformation
The mission's success was based on three key factors:
- Engage key stakeholders in the design and implementation of the urban model
- Work with management to jointly develop a model for the collective management of urban areas
- Capitalize on employees' desire to grow their business and develop their skills.
Results
- Mapping of priority urban areas, comparing the insurer’s presence (market share, source of leads) with the profiles of the targeted customer base
- Formalization of the Distribution Model and Target Relational Model
- Structuring the urban communications plan around three priority areas: comprehensive home insurance, sustainable transportation, and brand image
- An optimized process for converting online leads, including the implementation of management tools, planning for the online customer relationship center, clarifying the digital new-customer journey, and formalizing the handling of “warm” leads
To find out more, contact our team
