Page 2: Responding to the research evidence
In order to deliver a solution that would meet customer needs, Royal & SunAlliance consulted a sample of its top 200 independent brokers. The results of this research revealed the key elements that brokers were looking for in a partner:
- relationships at all levels with individuals who are empowered to make decisions
- a proposition exclusive to themselves
- financial support to aid their strategic goals.
The proposition required that Royal & SunAlliance should change its focus. Instead of conducting business on a highly product based, transactional and price focussed level, the Energy proposition required Royal & SunAlliance to change its approach and instead sell solutions giving added value, focusing on promoting long term relationships.The aim was to follow through a specific process to help brokers to achieve their aims by:
- analysing and understanding key customers’ business plans
- analysing and understanding the organisation’s total relationship with these customers
- joint planning with key customers
- giving a total relationship, incorporating all sectors of Royal & SunAlliance including Commercial, Life and Personal lines.
Having established these aims, it was then possible to start to build strategic partnerships with key customers and a long-term mutual outlook that enables both parties to achieve their goals.
Choosing the brokers
A vital part of building on the Royal & SunAlliance brand was to choose the brokers best suited for joint development of the Energy proposition. Because selling insurance is so competitive, it was essential to focus on working with high quality brokers who had a positive attitude to business and innovation as well as clear long term goals. Royal & SunAlliance chose to work with independent brokers who could demonstrate:a loyal customer base
- a strong service ethic
- a desire for a long term strategic partnership
- promising future prospects.