The Replacement Service (TRS) KEEN Project Kishore Gopalakrishna Pillai The template consists of 6 basic template slides which should meet your requirements. You don’t need to use each slide, just use the ones that suit the contents of your presentation. In addition, we’ve included some optional extras, these are divider/presentation cover slides each have a different image so it’s up to you which one you feel is relevant to you and your presentation. Please delete the other slides. - This is designed to be a cover slide only. It’s set up in Aston Business School’s core identity and uses one of the agreed messages. - The message can be changed to one of the other agreed ones. This slide has no other purpose than to be the screensaver/cover. No other text should be added.

The Replacement Service A strong position in the U.K. insurance sector Like for like replacement concept Sophisticated back-office claims management service to insurers A complex data base of product specifications, products, and suppliers Benefit to clients – significant reductions in claims handling time and cost

Has enjoyed incremental growth TRS Has enjoyed incremental growth Currently seeking to develop a new strategic orientation Plans A ‘self-claim’ product enabling consumers to manage their own claims within pre-set criteria. Sales of consumer behaviour ‘data’ to new, non-insurance sector clients. Web/mobile interfaces that will open up overseas markets.

BUT… A shift in TRS’ understanding of and reaction to consumer behaviour and expectations. Needs systems and culture to monitor, understand and react to the rapidly changing external environment. Technology advances and changing business models within the sector overlays further complexity. Potential to maximise/leverage the value of its existing, constantly expanding data assets.

Identified skill gaps No formal marketing knowledge, experience or capability at strategic or tactical level.   little understanding of consumer behaviour or expectations. no systematic process for collecting or analysing information on the markets, consumers and trends, competitors or technologies. no ability to convert such knowledge into business strategy and inform product/service development. limited knowledge of introducing new products/services directly to its customers. a limited CRM process- system or culture.

Project - Key objectives Develop a robust understanding of consumer behaviour and expectations when dealing with insurance services. Identify/refine strategies for business model, product/service development, marketing and communication to support the extension of its products and services. Embed a rigorous customer/consumer orientated culture. Further improve financial/operational benefits of its services to current and new clients.

Major activities Review Competitor and provider business models, consumer and technology trends within the insurance sector Consumer behaviour and expectations when dealing with the insurance sector Research and strategic planning: Qualitative/quantitative research within insurance and consumer groups Strategy development

Customer management and future exploitation: Major activities Customer management and future exploitation: Segmentation of consumers Marketing plans for current and new service offerings CRM culture and processes development Embedding new capability within TRS

Project Expected result: Open up new markets/services. Broaden the client base, increase business stability and its profitability. The project results in additional profit of ~£4.3M over 36 months. Duration: 18 months Key people: Dr. Kishore Pillai (Lead) Dr. Aarti Sood KEEN Associate (under recruitment)

Research potential Case study - implementing customer orientation in a small firm. Collection of detailed, fine grained information regarding the phases of the project; in depth interviews with senior management Target- Journal of small business management (3*)/ International small business journal (3*)