Case study: How we helped one insurance firm move ahead of the game

The background

Our client is a specialist insurance brokerage, based in the Midlands, that focuses on complex business insurance. They provide cover and risk management to a wide range of companies across many different sectors, all of whom require individual attention and a high level of personal service.

Above all, the directors of the business understand that how they interact with their clients – in particular, delivering enhanced, personalised customer experiences – is key to ensuring they stand out from their competitors.

The challenge

When the firm approached Cognition24, it was looking for rapid growth and realised it needed a powerful sales platform to help achieve that.

As things stood, information about clients and prospects was highly disparate and could be stored almost anywhere, including emails, phones, spreadsheets, in employees’ heads, and so on. This made for inconsistent and time-consuming sales processes that didn’t allow the sales team to focus on improving interactions with clients and making them feel special.

The challenge, therefore, was twofold:

• To create greater transparency of customer data so it was quickly and easily visible to all relevant employees

• To establish an improved – and clearly defined – sales process.

The solution

Using our proprietary Rapid Implementation Methodology, Cognition24 worked with the brokerage firm to have their new approach to sales up and running within a matter of weeks.

We activated Salesforce’s customer relationship management (CRM) solution, which allowed employees to easily and securely record, store and retrieve accurate data on clients and prospects – creating a genuine ‘360-degree’ view of the customer based on a single source of the truth. Because Salesforce’s software is cloud-based, it meant that implementation was simple and cost-effective, without the need for investment in additional hardware. It is also extremely user-friendly, so minimal staff training was required.

We also helped the business to map, and refine, its marketing and sales processes while ensuring the CRM functionality was aligned to this. This covered:

  • Automated marketing solutions
  • A secure database of all business contacts that can be accessed easily from multiple locations
  • Sales optimisation (i.e. enabling higher quality interaction with clients and prospects based on richer, more accurate data)
  • Renewals data
  • Claims data (so, for example, ensuring the brokerage are not marketing to a client who is in the process of making a claim)

The outcome

Within a short period of time, our client started to realise business value from the project. Their sales processes were saving time and enabling the business to operate more efficiently. This not only delivered an immediate financial benefit, but also allowed the sales team and management to spend more time on business development opportunities and maximise their sales by having richer, more meaningful interactions with their clients.

An additional benefit was that the improvement of the quality of their business intelligence – thanks to better data recording practices – allowed them to create more powerful business insights and make more accurate revenue forecasts.

Finally, because Salesforce’s software is cloud-based, it is frequently updated without the need for on-premise upgrades, while usage can easily be expanded as and when required. This meant that the firm had a fully future-proof system that set them up for future expansion.

Ready to find out more?

If you’d like to learn more about how we’ve helped this insurance firm and dozens of other companies improve their business outcomes, please get in touch. We’d be delighted to understand more about your goals and how we can help you surpass them.

And if you’d like to read more about how insurance firms are making the right choices to set themselves up for future success, take a look at the following articles:

5 ways the insurance firms of the future will win

How winning insurance firms choose the right technology

How winning insurance firms choose the right consultants

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