Lockton's discerning customer base expects exceptional service on and offline when they pay to protect their cherished vehicles. It's complicated, too, because some customers have LOTS of cars and even more nuanced requirements.
Behind the scenes, manual processing and admin can take you away from core customer service. The success of Lockton Performance led to exactly this conundrum. How can we digitise the service, increase face time with customers, scale and perform better behind the scenes?
With renewals and adjustments often taking up to an hour to complete, a great team of customer-focused brokers were constrained by invisible work. We set out to change that.
Lockton Performance customers tend to be members of luxury and supercar car clubs, or collectors with multiple exotic vehicles. The quality of insurance and service really matters to them, so digitisation had to be sensitively managed to their direct benefit.
We needed to maintain business as usual, enhance customer service and automate what we could for the brokers while maintaining visibility for the senior team.
The broking operation has become leaner, faster and more able to scale, with renewal times reduced by over 90% behind the scenes. Of the thousands of monthly transactions and interactions, less than 0.3% need to be supported by our team and can instead be managed either automatically or are expedited via the digital systems that are in place.
Full auditable transparency and automation of key regulatory tasks have removed additional administrative and governance burdens, and clients can now enjoy a 24/7 rather than 9 to 5 relationship with the business.
The systems we have put in place do the back office work of between 5 and 10 staff members, which has given brokers far more face time with their valued client base. Automation has also positively impacted retention, and both can feed into more competitive pricing.
Our first financial services project dates back to the 1990s; with continuous service in insurtech since 2013, we understand the landscape. Crucially, we also understand the customer side from a commercial and processing perspective, which the vast majority of insurtechs cannot claim to do. We can assist with the complex workflows that fall outside of platform and SaaS solutions, and the small books of business that are too costly to digitise through the big-player ledger systems.
To understand how we can help you, please call Karl on 0121 616 0093 for an informal conversation.
Across our portfolio of clients, our systems manage the affairs of tens of thousands of commercial and personal lines customers, generating 9-figure annual revenues for our clients and accounting for over half of our technical workload.