Our client is one of the Belgian market leaders in insurance solutions for private customers and small/medium enterprises. The insurance company is integrated and is part of one of the major banks in belgium.
TYPE OF PROJECT
The project was introduced by the executive sales and marketing director to boost the profitable growth. We supported the pre-research (analysis), the development of the new sales strategy and four new sales approaches. We organized the test phase and coached during the implementation.
Business development, customer centricity, commercial effectiveness
The company has a relatively large number of 1 policy customers (>40%), which is very detrimental to customer retention and profitable growth
There is a big difference in approach and results between the > 230 agencies
Low inflow of new customers
Weak results regarding the number (10%) of ‘Full Clients’ (= four key product policies / customer)
How we helped
we organize an analysis of the commercial actions and efforts (input) and connect these to the results (output)
We investigate why some agencies perform better than others (levers for commercial success)
We advise to focus on full clients and superior customer service in the commercial strategy (standard and top service)
We develop, test and implement four new sales processes, together with the top agencies and sales management
We develop, train and implement a sales performance coaching approach.
We make an inventory of topservices and advise on the development of new services and products (service design)
We help with aligning sales and marketing initiatives
We coach at executive level and in the field
During the test: by using the new sales system, increased the number of check up appointments with 50% (= to become a full client with top service)
In 25% of the cases the agencies obtained additional sale of 1 to 2 contracts (Increased conversion rate at the end of the funnel)
Results after 1 year (> 80 agencies): +10% core products,+ 13% life, + 27% financial products (contracts) compared to the not-yet participating agencies
4 feasible and usable sales processes (systematics), ready for rolling out
Improved coaching competences and coaching results
Improved competitive advantage through a unique approach