Fix to Stay
Win renewals by fixing open problems before the renewal date, not by discounting.
The job
Finds customers renewing soon who still have an unresolved problem from the past year, and puts it right before the renewal notice arrives. It proves the extra renewals against a matched control group, in dollars kept by fixing rather than discounting.
The moment
A countdown shows insurance customers renewing soon who still have an unresolved grievance from the past year. The counter reads $3.1 million of premium renewing in 30 days with a problem still open.
A voice agent calls a motor insurance customer who had argued with the insurer over a workshop repair, and offers a re-inspection.
The call ends with the customer saying "fine, I'll renew".
Three months later, this group of customers is renewing 18 points higher than a matched control group, with the difference priced in dollars.
What it does
- Choose a make-good
- Call the customer by voice agent
- Open a fix task (re-inspection, claim re-review, work order)
- Offer capped goodwill
- Log call outcome
What you see
A 45-day countdown calendar of open problems that turn from red to green by the renewal date, with a premium-at-risk counter and a control-group comparison
What it moves
How much higher renewals are than in a matched control group, in dollars of premium kept, and the share of customers kept by a fix rather than a discount.
Built for
- Finance
- Contact-centre operations
