min read

Transforming customer experiences SAGA

Fix Case Study - Transforming customer experiences

Saga, one of the UK’s oldest insurers that caters for the over 50s market approached Cowry to help them redesign the conversations they were having with customers.

Cowry reviewed the conversations agents were having with customers for Motor Insurance and Home Insurance Renewals.

Over a period of 3 months, Cowry delivered a programme of conversational design, coupled with behavioural science training, leading to transformational results.

The behavioural challenge

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Transform customer experiences

Financial services can be confusing at the best of times, especially when it comes to insurance. Saga’s customers are often over 50s and can sometimes be in their 80s and we needed to make sure they understood why their premiums might have changed and to help guide them to the right policy for them.

The conversations were designed to be clearer and simpler and explained the policy details and changes in a way that customers could understand and look to improve the customer satisfaction and retention rates without increasing the average handling times.

 

The behavioural solution

Following the friction audit, we identified over 25 different friction points that were leading to cognitive overload for the older over 50s customers. To overcome this we transformed the Call Guide that the agents were using and created a new Playbook. The agents were then trained in behavioural science principles and coached on how to use the Playbook by the Cowry team. Two treatment groups were set up versus the control groups and performance was measured on a weekly basis for a period of 3 months.

The key C Factors used in the Playbooks to improve the conversations included ;

Authority Bias – we changed the title of the agents and changed the intro they delivered when they first answered the call. This helped to instill confidence in the customer that the experienced consultant looking after them has the knowledge and skills to help them.

Ambiguity Aversion -  to help customers understand why their premiums had changed, we explained in simple terms, the factors that affected the price year on year.

Reciprocity – for those customers that had been loyal to Saga, we offered additional benefits such as a new reward programme to build a mutually beneficial relationship with the customer.

The behavioural results

Decrease in average
handling times
Increased participation
in loyalty scheme
ROI of
£8.73 : £1
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The behavioural outcome

 

 

The Trial cohort are still outperforming the Control cohort on Retention, Average Call Duration and Membership

Anthony Gallaway, Senior Operations Manager, Saga

Want to find out more?

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