Posted by Amy Castelda
Additional information about W5 and our expertise, experience, and capabilities is available below:
W5 conducts research projects and strategic initiatives for a variety of leading Fortune 500 and agency clients. Our work guides brands from local to global locales where products and services touch consumers’ lives in meaningful ways.
A B2B insurance carrier wished to better understand its client service practices, study the decision-making process affecting client defection and attraction, assess the competitive environment, and improve the entire continuum of the client life-cycle—from new business development and account management, to claims and program services—in order to drive strategic and systemic improvements.
W5 recommended a series of executive interviews with CFOs, Risk Managers, and other executive-level managers with day-to-day knowledge of the client relationship. Instead of highly structured and formal interviews, W5 employed a conversational approach designed to allow participants to guide conversation flow and highlight issues they found important. This qualitative approach was applied to both new and recently lost clients.
The carrier has made this approach part of their customer service process, using the interview results in sales training, client service reengineering, and client re-engagement. The results are also used within the executive suite to review key company initiatives to help reduce the amount of churn in client renewals.