Service Strategy

Optimizing Strategies

Deepened share of wallet by increasing customer convenience.​

A well known BC financial services company was challenged by increasing competition from online insurance providers. It needed a sales strategy to win customer loyalty through its network of sales offices. The strategy addressed:



- Purchasing insurance could be confusing, time consuming and complicated,  

  especially due to the infrequent/annual purchase.

- Gaps in coverage occurred (E.G. household versus automobile) and multiple renewal

  dates for various policies led to confusion and lapses in coverage.

- Offices had long wait times, lack of privacy as well as inconvenient operating hours.

- Incomplete understanding and/or preparation for insurance policy purchase caused

  unnecessary repeat visits creating errors and omissions.



An agent based portfolio model with a shift to synchronized annual renewal dates requiring a single annual visit to review and renew all policies was created. It enabled a deeper share of wallet, higher margin per transaction, predictable flow of customers while generating signficant loyalty through convenience and complete financing. Complimentary bundles were structured and new products and add-ons promoted by agents communicating directly with their portfolio customers.