16
How to put the customer at the heart of your organisation. Oke Eleazu, Chief Operating Officer. 2 October 2017
How to put the customer at the heart of your organisation.
Oke Eleazu, Chief Operating Officer.
2
October 2017
3
Who is Oke Eleazu ? @thinkoutsidein
4
5
Clas Fornells knows why CFO’s should care…
6
TECHNOLOGY GLOBAL RECESSION DEMOGRAPHICS
Customer Commitments
Customer Proposition and Process
Comms & Engagement Reward Technology
Purpose
Delivery
Support
Customer Experience
Measurement
7
Service Leadership & Colleague capability
Governance
Better Insurance. For Everyone.
9
Clear Customer Principles…
We treat everyone as an individual
We are trustworthy, open and honest
We are really easy to deal with
We are genuinely willing and able to help
We are there for you when you need us
PrinciplesCustomer Expectations
Provide the right product for me, not the right product you
Make my life as easy as possible, be flexible when I need you to be
Don’t hide behind small print and financial jargon to protect profits
Give me help, not just a financial product
Be present throughout my journey, not just at times when
you make money
10
“I think I want a Cat / Dog”
“I consider and research
everything I need for my cat/dog”
“I buy them insurance and
enjoy peace of mind”“Help! I need some advice and support”
“Do I buy insurance again?”
*
Community
Marketing Quote
Quote Issue Help or change Claim
Renewals
Communities and Engagement are key to our approach
11
Our technology and ‘know how’ allow us to innovate across the WHOLE value chain
Market Analysis Product Dev/Mgmt Customer Acquisition Quote & Buy Policy Admin Claims
• Analysis of 200m lines of search data• Demand engine to identify unmet demand
• Analysis of 34,000 Facebook comments• Co creation of products with member communities• 3 unique industry propositions
• Optimised SEO to deliver content•Micro targeted ads in Facebook• Member communities amplify positive experiences
• Personalisedmobile first purchase journey• Optimised question set for simplicity and speed• Predicted product selection• Online customer support• AI in beta
• Cloud based, automated billing• API integration with best of breed solutions• My Account allows simple self service• Workflow system
• Snap Claims: Online claims reporting and processing• No claim forms• Online progress reporting• AI and Machine Learning assist assessment
13
Customer Values Matter
• Bain have done in this area that highlights 30 elements of customer value that drive advocacy (NPS) and in turn revenue growth.
• According to their study organisations that can score highly in 4/5 elements have significantly higher NPS]. Apple, the highest scorer in the survey scored highly in 11.
• We have identified 8 areas that this ecosystem could score highly in:• Quality – we provide a high quality product
• Reduces effort – we make everything easy for our customers
• Provides access – we curate offers/deals that would not otherwise be available
• Affiliation/Belonging – our members/customers feel part of something bigger than insurance…a cause
• Rewards Me – our customers get discounts for being our customers
• Informs – our members/customers obtain impartial information from us and members of the communities
• Connects – we connects customers with people like them in the communities they feel are relevant to them
• Fun – dealing with BBM is fun!
• Purchase Experience: 4.8 stars out
of 5
• NPS Score 81 (UK Industry
Average 55, FS 45)
• 84% of customers are promoters
14
Our customers seem to like us…
15
16
…and people are starting to take note!
