Case
POP Vakuutus – How to transform into a customer centric organisation and improve retention?
POP Vakuutus is Finland’s fastest-growing insurance company. They mainly operate online, but also by phone, and provide simple and affordable insurance policies to private customers.
We helped POP Vakuutus in mapping the current state of their retention and the maturity related to customer-centricity. We built a foundation and a roadmap to transform into a customer-centric organisation that would improve both their retention and revenue. The roadmap consists of three different streams that will lead them to their end goal.
Our team at POP Vakuutus consists of Senior Solution Architect Jukka Hiissa, Strategy Consultant Riikka Purovesi and Senior Advisor Emma Storbacka. Project was conducted in Q4/2021.
Current state analysis on customer churn
Three key development areas identified
Roadmap for transformation into a customer-centric organisation
Challenge
- POP Vakuutus wanted to understand their current state with churn management
- They needed an outsider perspective to understand the current maturity level and take into account the customer’s point of view
- How to improve churn and potential development ideas
Solution
- Current state analysis on churn taking into the account customer base, churn management actions, data & technology and the operating model & organisational capabilities
- Roadmap and a framework for transforming into a customer-centric organisation focusing on three key development areas and a list of key capabilities and concrete actions to enable the journey
- KPI framework to support the transformation and how to measure success
- List of potential use cases to improve churn covering different stages of the customer lifecycle
Results
- By understanding their current state and maturity, POP Vakuutus is better equipped to execute a customer centric strategy and implement actions and use cases supporting customer retention.
- POP Vakuutus now has a clear plan for the next couple of years and three streams with concrete actions to take towards becoming a customer centric organisation.
“By having Avaus’ Experts to assess our current state and make a roadmap for our customer-centric organisation, we now have a clear plan that we can start executing right away. We are very happy with the results of the project and the Avaus team was able to exceed our expectations. The plan will serve as a basis for our customer base development as well as as a framework for future development initiatives.”
– Laura Peltola, Chief Marketing & Sales Director, POP Vakuutus