Quick Quote

How we Helped a Fortune 500 Financial Services Company Increase Profit Margins and CSAT Score

company overview
  • For over 211 years, this company is a leading provider of property and casualty insurance, group benefits, and mutual funds
  • They provide people and businesses with the support and protection they need to pursue their unique ambitions, seize opportunity and prevail through unexpected challenges
  • They also provide consultations for car, home, business insurances, and employee benefits
Location
Hartford, CT
Industry
Financial Services
Employees
10,001+
Working with SPAR since
The Hartford
SPAR  by Numbers

1000

+

Completed Projects

15

Yrs

In the Industry

140

+

Metric 3

$100

m

Metric 3
1000
+
Completed Projects
20
+
Years in Business
6
+
Year Average Client Partnership
100
+
Technologies Supported
challenges
  • The handling time of home insurance applications, and preparing for quotes for prospects was high
  • To get a quote, applicants needed to fill out 10+ pages of information and go through a series of screens
  • Needed a way to filter out people that would never be approved earlier in the process
solutions
  • Analyzed the application workflow, qualification criteria, and applicant screening process
  • Made recommendations to optimize the screening process
  • Developed a front-end application that automatically filtered unqualified applicants out of the process while expediting quotes/premiums to qualified applicants
  • Collaborated with internal teams to ensure all solutions were in compliance and integrated with their existing applications
results
  • The Quick Quote functionality improved customer experience by saving their time and energy by getting them the information they needed more quickly
  • Customer service agent availability increased significantly. This increase resulted in higher quality calls and enhance CSAT scores
  • Profit margins increased as time, energy, and resources were directed away from unqualified prospects and to more profitable channels
  • Improved approval data quality helped optimize marketing campaign targeting
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