LV= needed to understand where, when and how consumers were interacting with it, across its full product portfolio. They wanted to understand where cost arose, and what impact on resourcing would be in the contact centre if new channels were introduced. They also wanted to play several what-if scenarios to support their self-service strategy and roadmap.
We deployed our Consumer Interaction Model (CIM) tool to LV=’s personal lines business, capturing over 4,000 pieces of data across motor, home, pet, travel and breakdown lines of business, and looking at web, phone, social, post and other channels across every stage of the consumer lifecycle, from acquisition through service and claim, right through to renewal. We modelled a further 4,000 pieces of data based on our self-service experience, and used it to facilitate what-if scenario modelling. Finally, we analysed all data and identified key targets for digital transformation, making recommendations on new customer experiences that our CIM tool proved would simultaneously increase customer satisfaction and reduce operational expense.
The Consumer Interaction Model tool is highly granular, very accurate, and extremely well-suited to business case modelling. In LV=’s case, we identified:
- £multi-million annual operational cost savings from self-service recommendations
- Further significant reductions from overheads, buildings, HR, etc. for several hundred FTE savings
- Key opportunities to create happier, stickier customers.
“We have been very pleased with the quality of work Ninety have provided for our self-serve strategy; for this reason, I strongly suspect we will be calling upon Ninety again down the line.”
Group e-Commerce Director, LV=