Interpolis. Crystal Clear Business Model & Brand Strategy
Business Testimonial, MBA-FSI
Tilburg, 08.11.2012
Introduction & Program
René Voets, Manager Operations
• Business model
• Operating Model Rabobank-Interpolis
• Key succss factors: Packaging & Bundling
• Office Concept: tour
René van Gerwen, Brand & Media Strategist
• Brand evolution ‘Crystal Clear’
• Challenge and ambition
• Practice what you preach
Introduction of the Company, partnership and business model
Playing field
Achmea organizational structure
Direct distribution
Market & Strategy
Non Life & Income protection
Life & Pensions
International
Bank distribution
Broker distribution
Achmea Association Other
Syntrus
Large Corporates
Achmea Bank
De Friesland Zorgverzekering
Health Care services
Health
Staalbankiers
63.3% 5.4% 31.3%
1st in Dutch non-life market
34% bank distribution
Achmea Facts & Figures
1st in Dutch health market
3 top player in
Dutch life market
2011 result from
regular activities
€ 51 mn
€14 billion largest
Dutch real estate investor
2011 GWP
€ 19,650 mn
Rabobank Facts & Figures
139 local branches in 872 offices
with 3000 advisors
AA/AAA rated cooperative bank
39% market share
savings accounts
6,8 Million Dutch customers
42% SME market share
32% market share
residential mortgages
2011 net profit
€ 2.6 billion 83% market share
Food and Agri
Interpolis Facts & Figures
Crystal Clear concept
1st market share non-life
300,000 Corporate/SME customers
3rd market share life
1.6 million consumer customers
Business Model Rabobank-Interpolis
Advice & selling insurances
Sales Support
Claim Management & Prevention
Change of coverage
Vision on Customer contact
Rabobank Rabobank
Rabobank Rabobank
Rabobank
Interpolis Interpolis Interpolis
3rd party 3rd party 3rd party
Rabobank-Interpolis Operating Model
Rabobank Sales
Proposition Management
Rabobank Product
Management
Chain Management
Local Rabobank branches
Achmea `Product divisions
Interpolis
Brand Management
Account Management
Sales Support
Central
Local
Evolution of bancassurance
Evolution of insurance distribution
Tied Agents
other other other other
Tied Agents
Tied Agents
Bancassurance
IFAs / Brokers IFAs / Brokers Direct
Direct
IFAs / Brokers
IFAs / Brokers
Affinity
Bancassurance
Tied Agents
Bancassurance
Developing Emerging Super Mature Mature
Russia Turkey Greece
The Netherlands
• As the market matures, the importance of bancassurance as a distribution channel grows
Insurance distribution within Achmea
Netherlands only
Simple ‘Referral’
Model
Focus on commissions, not different
from an agent channel
Traditional Bancassurance
Focus on reducing costs and increase
margin at stake for partners
Integrated Financial Services Provider
Focus on delivering quality of
service and maximize cost
efficiency
Increased tailoring and integration with the Bank
Evolution in bancassurance
Partner in life and
business
Focus on needs of partners and support their business from
all aspects
Rabobank-Interpolis Successful partnership
Market share in P&C lines through bancassurance
2%
5%
20%
65%
Fortis
SNS
ABN/Amro
Rabobank
Gross written premium (€ bio.)
Non-life
Life
2.3
1.2
2.8
1995 2000 2008
The evolution of the relationship between
Interpolis and Rabobank creates value
Simple ‘Referral’ Model
Traditional Bancassurance
Integrated Financial Services Provider
Introduction of All-in-One policy
Improvement of claim handling by Interpolis
Introduction of Travel insurance as
part of initial product proposal from Rabobank
Introduction of All-in-One policy
for SME
Lauch of in- and outbound sales from Rabobank
Call Center
Introduction of Interpolis
Insurance Check
Key Success Factors for Rabobank-Interpolis
• No exclusivity agreement, continuous improvement.
• Integration in Rabobank’s all finance proposition.
• Coordinated development of core sales support / CRM systems.
• Rabobank is involved in product/proposition management process
• Claims handling by Interpolis: high level of service to the customer.
Packaging
Bundles & Packages approach
Rabobank Mortgage Package
Rabobank
propositions
Interpolis
propositions
Insurance
products
Customer
Rabobank SME
package
Service concept + Proposition functions
Service concept + Proposition functions
Service concept + Proposition functions
Add ons based
on brand
Services Pre-
vention Bundle
3
Add ons
By Rabobank
Single
products
1 Bundle
2
“I want advise about”:
•“turning 18”
•“living together/marriage/divorce”
•“decease”
•“going to university”
•“buying my first house”
LOB’s
Starting point: customer needs
“Buying my first house”
Insurance product
Banking product
Buying your first house
Additional services
“Starting my own company”
All relevant subjects concerning starting a company
Banking and insurance as one of the subects
Action plan for starting your own company
Bundling
Interpolis All in One policy
Retail, non-life
insurance
Bundle of 5
types of
insurance
Policy, premium,
renewal date, sales
application, claims
process, etc.
Cross-sell
More insurance =
more discount
Discount system
Discount amount
Cross selling
triggers …
…and strong
lock-in effect!
‘In this class, you
are not insured’
Cross selling
trigger!
The icons make
clear which
coverages
customer has
Integrated part of
Rabobank’s
banking
welcome package
Interpolis ‘Sure Company’ policy
Immediately
insured
No paperwork >
all electronic
Covers all
risks:
everything
unless…
Immediately
terminable
Co-growth
guarantee
Interpolis Brand Strategy
Context: lack of trust
Context: certainty seekers
Context: cry for transparancy
Market Perception
‘Insurers are big, complex and customer unfriendly companies that are never there when you really need
them’
‘I am just a number’
‘I have no idea what exactly is insured’
‘They make a huge profit, on my back’
‘Make sure you read the small print’
‘In short: you never know where you stand’
Market Expectations
‘Be there at the moment of truth’
‘I want them to keep their promises’
‘thinking along’
‘provide real solutions’
‘being crystal clear, so I can make the right choices’
‘being straightforward’
Brand evolution 2000-2012
Brand Development (1)
1
Interpolis. Give trust to gain trust (2000 – 2005) Interpolis is the first insurance company that makes insurances simple: simple communication and relevant solutions.
Eg: ‘Leave your receipts at home’
2 3 1
Brand Development (2)
2
Interpolis Guys (2005 – 2010) Interpolis is the first insurance company that understands money doesn’t solve everything
E.g.: ‘Interpolis Guys and Webshop’
2 3 1
Brand Development (3)
3
Interpolis. Insuring is not the only solutions (2010 – 2012) Interpolis is the first insurance company who states that insurance is not the only solution. And offers alternative solutions to cope with risks
Eg: ‘Online Prevention Shop’
2 3 1
In our campaigns we make tangible what’s slippery. Our crystal clear
solutions are always central in our communication.
We don’t make empty promises, but make extremely simple and concrete
what clarity means for our customers:
• leave your receipts at home, we believe you
• one telephone call and you exactly know where you stand • buy a new one right away, the money is on its way
• we send ‘guys’ because money doesn’t solve everything (repair)
• our webshop offers many products (replacement)
• the Insurance check: know what you should insure and what not.
Brand Values
Campaign Results
Brand Consistency:
-Rationally
-Solutions focussed
-Aqua branding
-Less is more
-Simplicity
Campaign Results
Results:
-Explosive growth of Brand Awareness: from challenger towards perceived
market leader.
-Brand preference and Brand consideration: nr. 1/2 position within category
-2011 survey: Interpolis most trusted insurer and Rabobank most trusted bank
Consistency Award
Next step Crystal Clear: challenge and ambition
Crystal Clear is more relevant than ever…
Society
• Customers no longer choose
products. They follow an identity
or idea.
• Authenticity & Credibility are
crucial for reputation
• Trust in established companies is
at an all time low, especially in
financial services
Crystal Clear is more relevant than ever…
Insurance category
• Insurance products have become
commodities. Products and
propositions are easy to copy
• Category is becoming more and
more complex: increasing number
of niche players (OnnaOnna) and
retail sellers (Hema, ANWB)
• Transparancy and simplicity are
becoming dissatisfiers (forced by
regulations)
Crystal Clear is more relevant than ever…
Organisation
• Achmea: Synergy and integration of
back offices, forces front end
differentation
• Rabobank: modified business
model insurance (virtualisation)
• Interpolis: embedding prevention
and risk management in business
strategy and incorporating health
insurance in brandkey
Interpolis is there for its customers when they really need it.
Not just by being and staying transparent but by offering
new solutions, so that people can be
in control of their own risks.
We want people to not uncritically insure everything,
but to use their common sense.
Because there are more ways to deal with risks.
The focus shifts to risk advice and prevention as an alternative for insurance.
With that we get rid of a false perception of security.
Brand Ambition
1. Risk insight are the starting point. What are the risks that are relevant for you?
2. Based on your preferences you can choose to reduce the risks (prevention), bear risk for yourself, or transfer the risk (insurance)
Insurance is not the only solution
It’s perfectly clear what risks are relevant to you and its crystal clear what measures you
can take to reduce the risk
Risk insights
Prevention Insurance Services
With our prevention measures, your risk reduces
significantly. That’s our guarantee
Everything unless
coverage, 100%
coverage
You can be sure that your
problem is solved, even though you
have no insurance with us
Impact renewed brandkey on business
Products and Propositions:
•Focus shift from insurance products towards risk
management (need driven vs product driven)
•Assessing relevant risks per client
•Outlining alternative options (besides insurance)
•Simple products and services (DIY)
Branding:
•Focus on Emotionele benefits (less
instrumental): Customers want to be understood
and supported.
Insuring is not the only solution…
Loss reduction in case of fire blanket
Loss reduction in case of smoke alert
Effects of prevention
Crystal Clear in operations
• Starting point: Deliver internal what we promise external
Key brand values must be incorporated in all phases:
• Products & Propositions
• Marketing & Communications
• Customer contact
Crystal clear in operations
Practice what you preach…
Interpolis
is the first Dutch insurer who provides alternative solutions, besides
insurances. With trust as a mutual basis, we provide maximum clarity
with simple products and easy processes.
In our day to day business we are always solutions-focussed and
towards our customers we act empathicly and equally.
By offering our clients need driven services and support we enable our
clients to get in control of their own risks. And give them a reassured
feeling about how they take care of themselves and their relatives.
Trust
Clarity
Solutions-
focussed
Empathic
Equality
Living up to expectations
That’s it! More information?
www.interpolis.nl
www.preventiewinkel.nl
And now: The Interpolis Office concept…