Fennia Mutual Insurance Company
With the help of PACE, Fennia has increased the number of risk assessments and the resulting recommendations they give their customers ten-fold. They have also improved the quality of their assessments. As a result, their customers now manage their risks better, which reduces compensations and increases profitability of insurance sales. All this with the same amount of personnel as before.
What Fennia wanted:
Transform the old practices into digital sales and risk management
Systematic work processes based on best practices
Improve customer experience and value delivery to customers
Lower churn rate and increase customer acquisition
Achieve high ROI quickly by investing into front-end solution instead of starting from the core systems
How PACE helped:
Providing Fennia a platform for digitalizing work processes and tools of their account managers
Improving customer experience and employee motivation improved with user-centric design and supportive features
Increasing performance by saving 50 000 hours from the annual back office work load and cutting the amount of IT systems used by account managers by 50%
Enabling new employees to start selling after just one week of training
Key results:
75% of the work process is now automated
10x more assessments and 30x more recommendations per year
25 min of time saved from administrative work per every customer meeting
79% of account managers say PACE helps them prepare for customer meetings.
96% of account managers see the service as beneficial for their company.
84% of account managers started using PACE right after the first training session.
12% higher sales growth in relation to account manager’s use of PACE
Improved quality and understandability of sales materials leading to bigger deals
”Close collaboration in the development of PACE has been smooth and the implementation has succeeded well. ROI has been on a high level.”
- Seppo Vihervaara, Director of Risk Management Services, Fennia
“The evolution of PACE is the most successful joint development process in Fennia’s history. PACE yields benefits beyond all initial predictions.”
- Taru Luontama, Director of Corporate Underwriting, Fennia
More Information
Fennia Mutual Insurance Company
Fennia Mutual Insurance Company is 4th largest insurer in Finland and has 135 years' experience in providing risk management and insurance services for enterprises, entrepreneurs and private households, as well as flexible client financing solutions.