Our insurance client experienced a large degree of marketing inefficiency across its product portfolio. Operating in a highly competitive marketplace, our client recognized the importance of data availability, customer targeting, timely campaign measurement and properly structured KPIs connecting to key business objectives.
2. UK Household Insurer
Business Challenge
Our client understood there to be a large degree of marketing inefficiency across their
product portfolio. Operating in a highly competitive marketplace, increasingly dominated
by the aggregators, coupled with a fragmented insight and data capability and poor
alignment of KPIs and campaign metrics meant it was essential to:
1. Drive major organisational change to deliver both the customer insights and
business processes necessary to achie ve efficiencies and effective Customer Value
Management
2. Realise cost sa vings in the immediate term
Solution
A parallel work-stream strategy was employed:
Results
Longer-term Objectives:
The longer-term strategic objectives were met over a 2-year period; the enterprise data warehouse
was developed and deployed, a prioritised roadmap and skill-set transfer delivered by the
insourced team which formed the basis for a long-term successful customer management strategy
where potential cost savings of £5M were identified.
Shorter-term Objectives:
Within the first 9-months the propensity models and segmentation solution were developed and
deployed allowing the client to achieve reductions in the CPA by over 25%