Challenges and tasks
A Fortune 200 American holding company operating multiple insurance and investment management businesses in service of more than 16 million customers aimed to implement a more customer-centric organizational structure and service culture. The company found that 1 in 4 customers did not have a recommendable experience, significantly affecting their ability to improve sales.
- Achieve top 5 sales market share
- Increase loyalty, persistency, and continuous growth of existing customers
- Attract segments of new customers
Over the course of a three year engagement with the company, OXYGY lead a large strategic transformation of the insurer. Our services included:
- Comprehensive analysis of customer data (interviews, market insights, focus groups, field office visits, analysis of call logs, and job shadowing)
- SWOT analysis, risk analysis, needs assessment, and strategy mapping
- Customer Journey Mapping
- Customer Centric Organization Design (via our OXYGY Co-Creation Methods)
- Change and program management to enable the adoption of the new design
- Operational Excellence / Six Sigma training to instill continuous improvement in the new customer-centric organization
Outcomes and value created
The company transformation shifted them from a 6 years of stagnant revenues around $27 billion annually, to a dramatic rise in line with the adoption of the customer-centric strategy, rising to $34 billion in year 1 of the strategy $50 billion in year 2 and $52 billion in year 3.
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