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Case Study: UK Insurance Company

Maritz Research helps insurance client design multi-product offering with optimum client appeal.

Situation

This major UK home and auto insurer was launching a new multi-product marketing campaign based on their competitive premiums and high standards of service. They needed a better understanding of the mix of products and services that would give their insurance packages a competitive differentiation. They called on Maritz Research to help them gain a deeper understanding of their target customers and what products and features would provide the strongest appeal.

Solution

Maritz Research started with a number of internal client meetings to help them understand the company’s full range of offerings. Based on this knowledge a research programme was designed including focus groups with both customers and non-customers, followed by a one thousand-respondent loyalty study. For this, Maritz Research used their multidimensional loyalty model, a technique that describes customer loyalty in terms of attitudes, individual differences, market factors, stated intentions and actual behaviours.

Once the results were available, Maritz Research managed a workshop with key client personnel where a hand-built simulator was used to predict the impact of modifications to the contents of various packages on the likelihood of customers staying with or joining the company. Maritz Research designed this to be more realistic by ensuring that individual responses fuelled the analysis, rather than averages for various customer segments, as is more typical.

Results

• Maritz Research delivered actionable intelligence giving the Client clear sight of which offers their customers and potential customers would consider as the best in the market
• Maritz expanded this further to include an understanding of discreet customer segments, mapping these to the product & service feature package mixes.