1. The Replacement Service (TRS) KEEN Project Kishore Gopalakrishna Pillai
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2. 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

3. 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.

4. 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.

5. 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.

6. 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.

7. 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

8. 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

9. 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)

10. 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*)