Aegon UK’s goal is to provide its clients with lifelong financial security by offering products and services tailored to meet the needs of its broad client base. With the changing regulatory, economic and digital landscape, consumers face the increasing complexity of securing their financial future. “While Aegon UK has made its products simpler and interpretations clearer, we have had to change our approach to understand and meet the specific needs of consumers,” said Iain O’Connor, Director of Customer Experience and Insight at Aegon UK. But simply analyzing NPS scores to measure customer satisfaction is not enough. “We need real-time feedback that translates customer insights into actionable actions to guide our decisions. This way we can develop products and services and help us improve day-to-day actions, such as the usability of the website.”
- Convert low NPS from -87 to +14 after callback
- Solve 60% of problems
- Innovative CX Lab to better analyze customer data
Working with InMoment allows Aegon UK to leverage a centralized CX platform to capture and measure all feedback and integrate relevant customer data across other business systems for a 360-degree view of the customer.
Gaining customer morale and acceptance was the first step for Aegon UK
InMoment Expert Services reviewed numerous email and online surveys to improve Aegon UK’s ability to obtain feedback from a wide range of clients and independent financial advisors. The text analysis component within the platform helps to understand sentiments and helps in maximizing the performance of key categories. This provides more insight into customer ratings and expectations. Feedback and response are measured and used to create multi-role dashboards and reports. As a ‘big data’ customer experience platform, additional internal business data was imported to enable Aegon UK to perform in-depth analysis using flexible queries.
Instant access to customer reviews
To improve their understanding of their clients, Aegon UK has developed the so-called CX Lab in the UK. This lab serves as a central hub for activities to improve the customer and employee experience. In addition to NPS feedback, each employee also has instant access to the feedback and opinions of more than 3,000 customers, 3,000 consumers, 1,000 employees, and 650 financial advisors.
A story about turning data into action
Aegon UK has developed a new concept, ‘Aegon UK Cares’, to respond to issues caused by negative customer experiences within the NPS programme. Over 60 percent of unsatisfied customers are contacted through Aegon UK Cares. Through the InMoment platform, Aegon UK now has a case management system in place to automate workflows, track progress and results, prioritize callback activities, and recheck customers once the callback is complete.
The impact on NPS is tracked, retained, and shared across the company to build and maintain a focus on customer service. Since its launch, Aegon UK Cares has also been the foundation of social media and has been a huge hit with clients who prefer online communication.
The numbers speak for themselves
For the first few months, Aegon UK Cares contacted a group of clients who had a combined low NPS score of -87. However, after a call back from the Aegon UK Cares team, the same clients were questioned again to ensure their concerns were heard and properly resolved. “After doing these reconnections, we saw the same customers turn right around and the group now had an NPS +14,” says O’Connor. “This is all thanks to the great work of the customer service team, who in turn receive great support from the InMoment platform.” As Aegon UK grows, customer insight is more important than ever. Enhanced feedback and dashboards generated by InMoment improve CX’s visibility of internal teams. “With new customer insights, we can invest more strategically in maximizing the customer experience. We are becoming more selective: we do not invest unless we fully consider customer requirements, because everything we do begins with their needs.” “By anticipating, listening, and responding to customer needs, we have truly become a customer-centric organization,” concludes Iain O’Connor.
This article was published at the initiative of InMoment
