Increasing the new company pensions (bAV) business through optimisation of the "bottom-up sales process"
Initial situation and project goal
In a large regional database with more than 200 offices, the business field of company pensions is processed by both a GmbH (LLC) – for approaching corporate customers – as well as an in-house pensions department (for approaching retail clients).
The bank significant potential for increasing the bAV business towards retail clients. The annual new business volume should be expanded in the medium term. In addition, a stronger bank-internal network within the bAV business must be ensured. Based on this fact, the programme "bAV optimisation" was launched in order to identify the relevant areas of actions and measures.
The most important project milestones include:
- Quantitative current analysis for the starting position through corresponding data analyses
- Qualitative analysis on the basis of the EY Innovalue success factor model, among others through interviews with financial consultants, pension experts, as well as employees in the pension department
- Scheduled workshops for the assessment of the current analysis as well for the derivation, discussion and assessment of areas of activiy and measures for the optimisation of the bAV business
- Prioritisation and inital rough draft of selected measures
Project results and outlook
- Benchmarking of the various market areas
- Strengths/weaknesses profile related tot he success factors in the bank insurance bAV
- Structured overview of the recognised areas of activity in the "bottom-up sales process"
- Prioritised listing of the measures required for increasing the bAV business
- The conceptional objective for the required structual changes in the specialist support and in the provisions department as well as in the bank-internal networking