Honda had a large book of existing business to transfer into Equity Insurance Partnerships, and insisted the impact on their customers be minimal, making the switch of insurance provider stress free.
Learn |
Large book of existing business to be transferred, minimising impact on the customer and protecting them from premium inflation |
|---|
Adapt |
We created a bespoke IT process for the transfer, and agreed terms with our Insurers |
|---|
Innovate |
Dedicated, experienced teams handled the transfer |
|---|
Equity Insurance Partnerships created a bespoke IT process so we could receive the required data and in a format allowing us to invite renewal terms accurately and without manual intervention. In cases where customers had previously paid monthly we completely removed the hassle factor by transferring their policy and payment details automatically, with no need to amend direct debits.
There was a comprehensive communication strategy with customers, informing who the new provider was, and the process to go through together with an invitation to opt out. We were transparent at all times and gave extended notice of the transfer to allow customers to make an informed decision before placing their insurance with us.
The transfer was a huge success, with retention rates in excess of any bulk transfer we have previously undertaken.