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