What challenge were they looking to solve?
Within the competitive world of SME insurance, RSA – a leading global commercial insurer – faced a significant challenge. With a larger portion of SME insurance business transitioning to digital platforms, they found themselves trailing behind the market leaders who had adopted digital experiences earlier and continued to improve their offers. Recognising the need for urgent action, the SME division set a clear objective, to enhance their e-trade/commerce experience and expand their proposition for Brokers. The aim was ambitious but clear, fuel growth in both new and repeat business over the next two years.
What did we do together?
Our journey with RSA began with a comprehensive review of their current e-trade proposition and experience. We interviewed SME brokers and internal team members to dissect what was and wasn’t working in the current offer. We picked through large volumes of broker feedback data, sourced from the online platform itself, and conducted in-depth comparisons of competitor portals to identify gaps and opportunities for innovation.
Our team crafted and tested a new and compelling proposition that underscored the unique benefits to brokers of engaging with RSA’s online platform and the services they could deliver over others.
Armed with data and broker insights, we undertook the redesign of the entire e-trade experience for brokers. This wasn’t merely cosmetic. It involved a fundamental rethinking of the user journey, focusing on eliminating pain points and enhancing usability as well as reinforcing the moments of differentiation guided by the proposition. Our recommendations created a detailed roadmap for improvement, providing the confidence to our client that changes made would meet the nuanced needs of SME brokers and aligned to the proposition they were trying to deliver.
What did we achieve together?
The results spoke volumes. Within just 18 months following the project’s completion, our client witnessed 20% growth in premiums written (far exceeding forecasts) through the online portal. The numbers were a testament to the efficacy of the new proposition and its execution. Brokers were seeing and feeling the difference, choosing to place increasing business with RSA resulting in over a 30 point NPS score increase and taking them from a bottom quartile to top 4 digital trading business (as scored by Insurance Times) in just 2 years.
Looking forward, RSA is now in the process of executing a three-year roadmap, initiated with a clear vision of becoming the benchmark for e-trade experiences in the SME insurance market. With a clear proposition as guidance, they are now setting new standards for digital engagement and customer satisfaction in the insurance sector.
Don’t just take our word for it.
Here’s what RSA had to say…
“We’ve worked with the team for over 2 years now and are consistently impressed by the work they do. Whether it’s value propositions, customer experience or deep customer insight, they’ve been a valuable asset to the business. What really sets them apart though is their ability to work collaboratively and adapt to our needs – they’re a joy to work with, bring a wealth of experience and are far more flexible than a larger consulting firm!” Alison Kent – Commercial Propositions Lead
