‘We wanted to improve our sales and service process leading to more satisfied customers’

Delta Lloyd Bank provides financial services to private customers in the area of wealth accumulation, such as savings, fund investment and mortgage loans. Delta Lloyd Bank is approaching customers indirectly through independent agents. OHRA Bank, which is also part of the Delta Lloyd Group, serves customers directly, mainly via telephone and the Internet. Tax-incentive wealth accumulation, such as bank annuities and life-cycle are the spearheads in the product offering of Delta Lloyd Bank and OHRA Bank. “Delta Lloyd was the first bank to offer a product for individual pension savings. We had a lot of success. But as the market matured, we realised that we had to look critically at the service around the product” says Joos Melis, CEO of Delta Lloyd Bank. “How do we increase customer satisfaction?”

Analysis

On 1 January 2008 the Bank-savings Act was implemented. This law made it possible to also use bank products for individual pension savings. Until that time insurers had a monopoly to offer tax-incentive based (pension) products, but now banks and investment banks are also allowed on that market. “Banking annuity quickly became popular. Delta Lloyd was the first to introduce a product in this market.”

“The market had become more mature by 2009 and we wanted to hold our position. We had great success with this pension product but realised that we had to look critically at the underlying service. In 2009 we asked Eisenfelt to perform an analysis. “Which points in the process makes a customer satisfied or dissatisfied with our product and service?” It resulted in improvement proposals to attract new customers but also to increase the satisfaction of existing customers.”

Outside-in

“‘If you are ready to buy or change the product, how easily do you have access to the information?’ ‘As a customer, are you properly addressed?’ A consultant of Eisenfelt really got his hands dirty in this research. He went to sit exactly where the questions about the product came in. And, for example, he also followed the routing of mail and e-mail. Thanks to very practical recommendations we have resolved bottlenecks in the service process.”

“The research has given us a better picture of the orientation and purchasing process of potential and existing customers.” You have to provide them targeted information at the right time and through the right channels. “Eisenfelt has thus developed a strategic marketing plan.”

Increased customer satisfaction

“The approach Eisenfelt has followed was one of rolling-up your sleeves. We started the research with the OHRA Bank. We then asked Eisenfelt to research the same product range at the Delta Lloyd Bank. All the recommendations were implemented with increasing customer satisfaction as a result.”