Delivering a completely revamped digital customer experience for a leading Irish insurance broker following multiple post-merger integrations.
About the company
Ireland's leading insurance broker with a diverse personal and commercial-lines offering, alongside wholesale broker products.
In recent years the business had grown exponentially through a series of acquisitions by its private equity owners.
Whilst the series of measures had significantly grown footprint in the Irish market, the merger of competing digital infrastructures, technology overlaps and differing digital service models resulted in a digital experience for customers that was both inconsistent and frustrating.
The impact was also felt internally, where sales teams were lacking the insights, processes and technology to effectively convert digital business.
Palladium was engaged to work with the business to define current digital capability gaps and build the digital services blueprint to support future growth ambitions.
Working directly with business stakeholder as part of a co-design team, Palladium identified the digital products and services required to meet customer expectations and stimulate digitally driven revenue growth.
The initial discovery phase identified numerous critical issues with existing digital services, including overly complex domain structures impacting digital visibility, inconsistent product information impacting customer conversion, and limitations in analytics and reporting preventing the business from uncovering robust insights to inform on-going sales and marketing strategies.
A thorough discovery output defined a future structure for digital products and services, supported by development of a backlog of requirements for existing digital products.
The following two stages transitioned to Palladium’s Digital Transformation Office (DTO) that oversaw the programme and change management associated with designing and developing these new products and services. This involved working with the business to identify Vendors, support internal teams with digital knowledge development, introducing new ways of working and definition of digital service blueprints.
Key findings & results
Over a period of 6 months, the digital customer experience programme delivered significant impact to the business including:
Enhanced customer insight through the advent of enhanced analytics
Improved digital customer experience with reduced enquiry friction resulting in significant lead volume gains
Traffic volume increases across all personal lines products
Sales tracking and nurture technology contributing to improvements in quote to sale ratio
Advanced call tracking resulting in improvements in first contact conversion success
Shortly after the delivery of the digital programme, the PE backers successfully exited this business delivering 5.5x return on initial investment.