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How a Digital Approach Is Improving Customer Satisfaction at a Major Insurer

A major international insurer suffered from low customer satisfaction and low productivity in contract changes. BCG worked with the company to improve its customer focus, cut costs, and increase efficiency.

BCG’s approach involved five initiatives:

  • Fixing the Basics with Digital Lean. BCG helped to identify processes that were driving customer dissatisfaction and costs and map those processes end-to-end. It then identified potential approaches and levers and the prospective gains (in terms of customer loyalty or cost reduction) from each. The levers identified included the use of advanced digital technology to optimize processes. Creating an implementation plan that enabled quick wins, and involving a significant part of the workforce in the plan’s creation, were important means of securing employee buy-in.
  • Building Digital Customer Journeys. The goal here was to create and implement digital customer journeys that would increase customer satisfaction. The work began with identifying which customer journeys were most relevant from customers’ perspectives. BCG then worked with the company to develop concepts for digitized customer journeys, as well as an approach for refining them using constant, iterative customer feedback. We helped develop business cases for each customer journey to estimate the potential for creating efficiencies. We also helped develop the capability to perform rapid prototyping and piloting in order to provide proof of concept.
  • New Concept for a Customer Portal. The insurer’s customer portal was not meeting customer expectations or the standards of competitors’ portals. To address these weaknesses, BCG conducted interviews with internal stakeholders and an online survey of users to identify pain points. We then held workshops to develop the vision, strategy, and targets for the portal. This work included evaluation of different traffic-generating strategies, as well as the costs and benefits of specific improvements.
  • Setting Up a Smart Operations Program. With a goal of reaching fully automated operations, BCG helped establish a smart ops program to evaluate the status quo, close operational gaps, and define the level of ambition for this effort. The work included analyzing available data to produce an end-to-end display of automation KPIs; defining required initiatives, including the creation of centers of excellence; designing a governance framework with key stakeholders; and creating a roadmap for further implementation of the smart ops program.

Insurance
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