A Dual Mandate of Growth and Efficiency Against Increased Competition
They were among the first carriers to capitalize on customers eager to buy via direct channels, driving a seismic shift in how business consumers purchase insurance. Already guided by Sutherland as their transformative partner, this propelled the company to premium status in the U.S., helping them enjoy a decade of industry-leading 20%+ CAGR growth.
But the tides were changing. Faced with increasing competition, they wanted to revitalize their operations and stay ahead of the curve without compromising costs.
The overall goal? Growth and efficiency.
And there were significant opportunities across the insurer’s ecosystem to drive both, from customer journey transformation to optimizing the back-office – driving the need for a holistic front-to-back-office transformation.
A Roadmap to Measurable Success, Powered by Sutherland’s Digital Solutions
Bringing unique and unmatched expertise in US-based Policy Acquisition operations with a full suite of front-to-back digital transformation solutions, Sutherland was well-placed to support this transformation.
This began with an extensive strategy consulting exercise, resulting in a 3-year transformation roadmap capitalizing on three value-creation opportunities:
- Growth enablement. Digital marketing was redefined via personalized videos and lead management. Conversion analytics was implemented to identify customer withdraw points so interventions could be made, reducing drop-offs by 15%. Interaction analytics powered by Sutherland CX360 unpicked customer intents and needs and optimized agent effectiveness. This helped boost the number and quality of leads, driving conversion up from 15% to 22%.
- CX-led digital systems. An customer journey transformation across the business based on competition benchmarking and customer feedback. A best-in-class digital engagement center powered by Sutherland Connect was deployed, delivering optimized omnichannel customer engagements and harmonizing fragmented systems.
- Hyperautomation. End-to-end hyperautomation of high-volume policy servicing requests via Sutherland Robility. Plus, Sutherland Connected Underwriting delivered adaptive and trained machine learning models and scoring capability to drive underwriter efficiency.