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Case Study: Mutual Insurance Company

Company Profile

This company provides financial services including savings, pensions, home and car insurance, health insurancepersonal loans and mortgages to 400k members of a medium-sized mutual company

The Mission

To design and deliver a digital transformation roadmap that will enable the company to deliver and embed a single view of members across all channels and products, improve digital channels, deliver insight-led marketing campaigns, and the processes to embed this in the business. 

What Our Associate Did

Define, deliver and embed the strategy  

The Associate was asked to help define the strategy, outline a roadmap and develop a business case to support this. Once this was approved by the Board he was then asked to deliver and embed the solution and ensure the benefits were realised.  Given the spending involved the roadmap had a series of checkpoints with the Board to ensure that governance and oversight were in place throughout the delivery. 

Designed and delivered a roadmap of application transformation 

After assessing the current business and IT landscape, the Associate designed a roadmap to combine lots of disparate data into one Single Customer View (SCV), deliver CRM using the SCV which included next best actions, automate marketing campaigns and develop a target operating model to support the end to end data collection, use, and management.   Given the importance of this delivery, this had CEO and Executive level sponsorship as well as business-wide leadership to ensure successful delivery. 

Delivery of the foundations and early benefits 

The Associate led a programme of transitional projects that looked to deliver early value whilst delivering the building blocks of technology, process and people change.  This approach ensured good foundations were being built to ensure robust technology was in place, early benefits were delivered to validated the business case and ensure the business would remain resilient, future-proof, and adaptable in the face of changing working practices.  

Improved process efficiency through information sharing, application integration, and cultural training 

Through improved application integrations, development of CRM campaigns, and subsequent Management Information, campaigns were more effective, information more timely and accurate combined with more sales aligned business teams.  These building blocks all provided key building blocks in delivering a new digitized business working in a more integrated agile manner.  

The Results

Upon completion of the transformation project, the organisation had become more efficient, delivering the anticipated financial benefits in 1/3 of the expected timeframe. In addition, the organisation was better placed to make faster decisions, delivering campaigns in less than 25% of the previous timescale, allowing more campaigns to be delivered with the same resource.  

The campaigns used AI and machine learning to optimise performance and therefore were seeing 20% better results for 15% less cost.  The business became much more responsive to market needs and the cultural training also helped move the customer contact centre from providing a passive service to looking for sales and cross-sales whilst continuing to give great service. This initiative underpinned the business growth of 20% pa over 5 continuous years. 

In order to deliver a comprehensive overview of our Associates' experience and to detail the service that they can deliver, some of our case studies will contain work carried out by Associates prior to joining Bailey & Associates. Please note that we are not able to publish every case study, so if you would like to ask about our experience in a specific sector or industry, please contact us directly.