A customer-centred approach to providing insurance
A Zurich case study

Page 1: Introduction

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One approach to business is to develop a product and then look for customers. However, for many businesses the customers come first. They adopt what is known as a customer-focused approach. These businesses seek to provide customers with what they want. This involves listening to customers to identify their specific needs and requirements. This case study examines the customer-focused...
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Page 2: Vision

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An organisation’s vision is a clear statement of what it seeks to achieve. The vision should inspire everyone associated with the organisation. It should motivate employees to strive to achieve the vision. If the vision sets out what an organisation seeks to achieve, then it needs to have a means to fulfil that vision. The means to achieve the vision is termed a strategy. Zurich’s...
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Page 3: Aims and objectives

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Aims The relationship between a business’s aims and its objectives is important. Aims are general statements of what a business is seeking to achieve. They are closely related to its vision. Objectives are much more specific. They often include quantifiable elements that specify precise performance targets. Managers can use these objectives to monitor progress. They can compare actual...
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Page 4: Strategy and tactics

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A strategy is a plan that enables an organisation to achieve aims and objectives. The plan needs to be backed up by tactics. These are the methods used to implement the plan. Setting out a strategy In relation to customer centricity, Zurich’s strategy is to increase customer satisfaction. In order to do this, Zurich needs to understand what customers want. In 2010 and 2011, Zurich...
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Page 5: Measuring performance

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The benefit of setting SMART objectives is that they provide a way for a business to measure its performance. Measuring performance makes it possible to identify a business’s strengths and weaknesses. It provides a firm basis for planning to improve performance. These are some of the measures that Zurich uses to measure performance: Customer centricity Sales growth – Zurich...
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Page 6: Conclusion

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Zurich has a well-thought-out and executed strategic plan. This focuses on meeting customer requirements. Zurich seeks to win the loyalty of customers by listening carefully to their needs and requirements. Zurich has a clear vision – to be the world’s best global insurer. The vision is backed up by a strategy that focuses on serving customers, shareholders and employees. The...
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