POLICY INCEPTION IS JUST THE BEGINNING
Today
OUR OBJECTIVE
To explain how Customer Engagement would suit your business
WE WILL COVER
What? Why? How?
THE OUTCOME
To have you up and running with your own branded Boutique
What Is The Boutique?
The Boutique is an individually branded electronic trading platform
that hooks up seamlessly with your primary websites.
It contains a suite of products which are competitively priced,
appropriate, relevant and of interest to your policyholders.
You’ll never have a product or price advantage again. They can be easily duplicated, but a strong customer service culture can’t be copied.
Jerry Fritz, iicem
If you win it on price, you will lose it on price David Robinson – Regional President UK & Ireland, ACE European Group
Why is it needed?
The insurance industry is becoming increasingly aware of the need to build
two way engagement with clients and differentiate from the competition
This means that there is a need to increase communication to
build trust, engagement and loyalty to your brand
The customer experience is the next competitive battlegroundJerry Gregoire, Dell
Why Would It Appeal To Customers?
It delivers a tailored product offering that is of
interest and relevant to their businesses and
lives.
Customers are purchasing these products so
why not give them a medium which
demonstrates an interest in their day to day
needs as well as their insurance
requirements?
Insurers must communicate better with customers and recognise that one renewal action a year is not enough to build lasting relationships
Adam Bellchambers – IBM
Your branding will be applied to your boutique and emails,
and reinforced throughout the customer journey
http://another.myinsurer.co.uk/ http://drp.myinsureroffers.co.uk
What Does The Site Look Like?
INTRODUCTION EMAIL BOUTIQUE OFFER EMAILS
Customers are beginning to look at brands in terms of what they represent, rather than concentrate solely on price
Nicholas Aubert – MD, AIG UK
How will customers discover your Boutique?
We provide targeted bi-monthly
email campaigns with great value
products.
These specially sourced offers are
designed to be attractive to your
clients and drive them to your
website.
We actively monitor conversion
activity and use this Management
Information to tailor further
campaigns.
It is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change.
Charles Darwin
Should there be a customer
or a policyholder who is a
supplier of a relevant product
these can be added to your
site, furthering engagement
with your customers.
How Credible Are The Suppliers?
We only source quality
products from credible
suppliers.
Price is what you pay, value is what you getWarren Buffet, Chairman and CEO, Berkshire Hathaway
How much will it cost?
We ask that you commit to a minimum of
6 months for us to prove the
effectiveness of your Boutique.
Thereafter a 2 month notice period is all
we require.
A one-off set up fee of £250 exc. vat
An ongoing monthly cost of £250 exc. vat.
Each bi-monthly email campaign is £100 exc. vat.
We brand the site, source the supplier and manage end to end delivery of the
product, from returns and refunds through to the financial reporting and managing
warranties.
All markets continually evolve; the successful are those who have a long term vision, set out their stall and make it happen.
Steve Jobs
Getting Started In 3 Easy Steps
Step 1
We work hard to ensure the set up
process is hassle free, and simply
ask that you provide some
necessary information and artwork
and we take it from there.
Agreement signed
Client set up form
completed - Logo,
Colour palette etc
Step 2
We work with you to ensure the
launch is seamless and covers all
bases
Launch date decided
Staff training
Customer intro email
Promotion of the site
using website Links,
banners, PR &
marketing, call centre
scripting etc
Step 3
The ongoing management of the
site and email campaigns will be
managed fully by us and hassle
free for you and your staff
Bi-monthly emails
Ongoing site
promotion
Production of
Management
Information/ Reports
So what’s in it for you?
Assumptions
Avg. GWP per Broker per Annum - 6,000,000
Avg. Commission Rate - 18%
Avg. GWP per Customer - £2,600
Avg. NRI per Customer at 18% - £468
Scenario 1 Gain 1% more renewals
Incremental GWP - £60,000
Incremental NRI - £10,800
Scenario 2 Gain 8 new customers
Incremental GWP - £20,800
Incremental NRI - £3,744
Cost of Broker
Boutique£250 per month =
£3,000 per annum
Cost of
Broker Email
Offer £100 per offer -
£600
Total Cost
to Broker
£3,600
So what’s in it for you?
Assumptions
Average GWP per Broker per Annum £6,000,000
Average Commission Rate 18%
Average GWP per Customer £2,600
Average Net Retained Income per Customer @ 18% £468
Scenario 1
Gain more renewing customers through the Engagement Process
Getting 1% more GWP out of Existing Customers £60,000
Incremental Net Retained Income from 1% increase in GWP £10,800
Scenario 2
Gain new Customers through Referral
Get 8 new customers at average GWP of £2,600 £20,800
Incremental Net Retained Income from 8 new Customers £3,744
What’s Next?
The fuel card that can guarantee
consistently cheaper prices than the
average pump price and many other
fuel companies.
- Free to set up
- No minimum spend
- No fees
- Up to 45 days credit
- 8,500 retail sites across the UK