Use Case

Use Cases - Digital Adviser | Axell Hub

Orphan Insurance Customers

As financial advisers continue leaving the industry, a growing number of insurance clients are no longer being actively serviced creating a retention issue. We worked with a large Australian insurer to map the current-state challenges and design a compliant service model.

1

Challenges

  • Lack of Visibility: Difficulty in determining the level of adviser engagement with clients.
  • Problem Definition: Unclear understanding of the true extent of the challenge.
  • One-Way Communication: A broken ecosystem that restricts communication to only between the Insurer and Adviser, and the Insurer and Client.
  • Reactive vs Proactive: Inability to proactively retain clients or address cancellations.
  • Offline Service: Absence of omnichannel service, leading to a poor customer experience.

2

Opportunities

Our cross-functional internal research revealed opportunities, including:

  • Integration with parallel projects: leveraging existing investment in technology and infrastructure upgrades to design a new service model. 
  • Omni-channel experience: allow unadvised customers to communicate directly with the insurer across channels.
  • Mapping digital ecosystem: visualising the front and back-end systems reveals opportunities to simplify processes.
  • Leveraging data: harnessing data can triage customers through the correct channels, compliantly.

3

The Solution

We mapped a future-state, omnichannel journey for unadvised customers that could be mapped to operational processes while also meeting advice compliance regulations. The project deliverables included:

  • Customer service workflows, including triaging.
  • Future-state journey map.
  • Detailed service blueprint.
  • Digital advice framework.
  • Strategic options for solution development.

 

AXELL’S PROCESS

Axell Team | | Axell Hub

With our proven innovation process, we help our clients
design and launch a fit-for-purpose solution

Client Testimonial

Axell brought a global perspective on how to transform financial advice distribution to our local insurance market digitally. They supported us through the discovery phase to understand adviser pain points so we could build a proposition that was fit-for-purpose. Axell then helped us source the right technology partner, co-design the solution, and launch it on the market.

Head of Innovation

Australian Life Insurer

Use Case | Axell-Hub

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