Published in Financial Services

AEGON – NPS Measurements in Realtime

Real-time NPS measures enable Aegon to establish operational processes to close the feedback loop across multiple touchpoints

MOVING TO REALTIME NPS FEEDBACK

Aegon’s purpose is to enable their customers to achieve a lifetime of financial security, by offering tailored products and services meeting the needs of their wide customer base. With the changing regulatory, economic and digital landscape, consumers are facing greater complexity to secure their financial futures.

“… simply analysing NPS scores several times a year– gauging overall customer satisfaction  is not enough. We needed real-time feedback that translates customer opinions into practical actions to guide our decisions to grow and develop products and services as well as helping us to improve every day touchpoints such as the usability of the website.”, explained Iain O’Connor, Customer Experience & Insight Manager at Aegon.

FOR AEGON, IT WAS A FIRST STEP TO CAPTURE CUSTOMER SENTIMENT AND UPTAKE

MaritzCX Expert Services revised Aegon’s touchpoint surveys and combined email surveys with website intercepts to broaden Aegon’s ability to capture feedback from a wider group of customers and independent financial advisors (IFA). The text analytics element within the platform helps to understand sentiments and helps to drill down into the performance of key categories, giving a deeper insight into
the customers and prospects evaluations.

The feedback and response is measured and used to create role-based dashboards and reports, with the option for different user settings that are instantly actionable. As a big data CX platform, additional internal business data was imported to enable Aegon to run deep dive analytics using flexible dashboard queries.

THIS IS A STORY OF TURNING DATA IN TO ACTION

Aegon created a new concept – ‘Aegon Cares’ to respond to and resolve issues raised by detractor customers from the NPS programme. Through Aegon Cares, over 60 percent of identified detractors are contacted. With the MaritzCX Platform, Aegon now has a formal case management system in place to automate work flows and to track progress and outcomes. Case Management allows Aegon to prioritise call back activity and re-survey customers once call backs are completed. The impact on NPS and retention value are tracked and shared across the business to help build and maintain focus on customer service. Since its launch, Aegon Cares has expanded into a social media offering too which has improved speed of resolution and been a big hit with customers who prefer to interact online.

THE FIGURES SPEAK FOR THEMSELVES

Over the first few months of 2017, Aegon Cares called a group of customers with a combined low NPS score of -87. However, following the call-back contact of the Aegon Cares team these same customers were e-surveyed to ensure their issues have been heard and properly resolved. “After these call backs were made we saw these same customers completely turned around and the group now had an NPS of + 14.” said  O’Connor “This is all down to the great work of the customer service team who in turn are greatly enabled by the MaritzCX Platform.”

ABOUT AEGON

Aegon is an international provider of life assurance, pensions and asset management. Today they manage over £302 billion revenue-generating investments and have more than £40 billion of funds under management. Aegon’s 24,000 employees conduct business in over 25 countries, with around two million customers in the UK and Ireland alone. Aegon has been helping people take responsibility for their financial future since 1831. The UK company was founded, and remains, headquartered in Edinburgh. It is a company built on helping customers achieve their long-term financial goals through customer engagement.