Leading digital insurance broker launched 20+ initiatives to boost sales and diversify claims

Context

A digital insurance broker wanted to understand how to improve their processes across the sales journey, identify new product opportunities to diversify their product portfolio, enhance claims operations /CX & build the required tech capabilities to enable the outlined activities

Our approach

• Mapped the current processes across the policy lifecycle
• Identified key pain points across each step in the sales process & claims operations through data analysis, process mapping & detailed stakeholder interviews
• Analysed the current tech stack to identify opportunities for improvement across process, people & technology
• Studied the current product portfolio and distribution channels and identified new product opportunities to diversify portfolio along with suggested distribution channels
• Developed solutions for  the key pain points identified in the sales process, claims operations & tech stack, prioritised basis management discussions & designed implementation programs / initiatives
• Created a comprehensive map of potential new product opportunities & shortlisted products for initial focus
• Evaluated distribution models for the new product opportunities identified, designed pilots for the selected distribution model

• Key strategic initiatives defined & implemented to meet the 5-year goals
• 10+ initiatives identified to boost sales effectiveness, agent productivity & efficiency across each step in the sales process
• 5+ initiatives identified to improve website performance, enhance data security & reimagine the IT team structure
• 5+ initiatives identified & implemented to improve claims operations & enhance end customer experience
• 3+ pilots identified to build distribution channels for new products & diversify the product portfolio mix