Gallagher learns to act on feedback to improve retention

Gallagher learns to act on feedback to improve retention

Challenge

Gallagher is one of the world’s largest insurance brokerage, risk management and consulting firms, operating in the UK through a national network of 61 locations. Their goal is to seek to form lifelong partnerships with clients and underwriters which, when combined with world-class data and analytics, helps customers grow. They were looking for a Customer Experience programme that would define feedback to improve renewal rates.

Solution

First engaging with CXCO in 2016, Gallagher used the IIC assessment to evaluate their client relationships against the16 themes in the IIC model.

The detailed feedback identified the key driver of client loyalty to be the strength of the business relationship between Gallagher staff and their clients. The feedback also identified areas for improvement and that a focus on continuous client feedback would enable the business to improve client relationships. These findings led to the establishment of a Net Promoter Programme in which clients are invited to answer a two question survey, six months after the renewal of their main insurance policy. This identifies clients who are happy with the relationship they have, and those who are not. All responses generate a notification to the relevant team in Gallagher’s who are encouraged to make a “closed loop” call to the client.

Impact

When Net Promoter was first introduced in a Harvard Business Review paper in 2003, it was headlined as the “One Number You Needed to Grow”; suggesting knowing your Net Promoter Score was all you needed to do. Gallagher has found that it is what you do with the feedback and the closed loop call that actually makes the difference to their clients and helps them to grow.

Having run the Net Promoter programme for over a year, analysis shows clients who receive a closed loop call are more likely to continue to insure with Gallagher. Where the client has identified problems with the service, these issues are addressed and solved. If there are no problems to solve, the call serves to reinforce and strengthen the relationship between Gallagher and their clients.

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