What We Do
“We believe in proactive retention, which is why we developed the Optimum Dynamic Data Scoring Model (ODDS.) “
ODDS is our very own in-house data analytics actuarial model. We developed ODDS after over a decade in the industry, using all our knowledge of business intelligence, the fundamentals of direct marketing, and the science of data analytics.
As we always say, 70% of the success of any direct marketing campaign is based on the quality of the data.
“Strike while the lead is hot” – if a customer is interested in your product, service them and service them now… is our belief.
Our dedicated and successful call centre focuses on “hot lead” campaigns. Hot leads are people who are closest to the buying stage in the sales cycle. Companies commonly make use of SMS and email campaigns to identify hot leads, but we make use of multiple avenues such as web or even unqualified field agents.
It is imperative that the call centre is able to contact these clients quickly, before they can be targeted by other marketers. We ensure that leads are contacted within a minute so that you can beat the competition.
Our solution allows an unqualified field agent to identify a customer who is interested in a product and send that lead to our call centre. Within one minute of receiving a lead our call centre will contact the lead and complete the sale. The process is streamlined using multiple channels such as USSD and AVM.
Through a multichannel approach to communications we are able to get back to leads within 1 minute. This means that our closing ratio is about 30% higher than our competitors.
Our experience shows that the sooner a new policyholder is contacted after they have purchased a product, particularly through direct marketing channels, the more likely they are to pay the first premium.
We issue policy documents within 48 hours after receipt of a sale, either via e-mail or post. Our automated and date-stamped processes ensure that all communication processes are relevant and complete.
However, sending policy documents immediately is not always feasible and we have found that using various multichannel solutions (AVM, SMS, USSD) will provide clients with tangible confirmation and key information for claims purposes, even before documents have been sent to them.
We operate two call centres to service specific business focus areas and functions – an Inbound Customer Service team, and an Outbound Call Centre.
Inbound Customer Service Call Centre
We believe that servicing a customer is not only about being available, but also about making sure that we proactively service them based on what we know about them.
Our agents are incentivised first and foremost on service and are managed on their ability to represent the client’s brand. Second, they are incentivised on their ability to retain customers and offer additional products where necessary.
Outbound Call Centre
Our Outbound Call Centre is a specialised environment focused on marketing to existing and previous policyholders. We have consistently out-performed our competitors and are proud of not only our sales results in this environment, but the quality of business that we generate for our underwriters.
Our dedicated Call Compliance Assessors are focused not only on ensuring 100% adherence to compliance requirements, but on continuously coaching and driving principles such as treating customers fairly throughout both our call centres.
Due to greater accountability placed on regulators, many Underwriters do not have the capacity or skills to manage the additional oversight required to validate their partners’ or binder holders’ compliance processes.
Product Owners now have to acquire the necessary tools and resources to assess their potential compliance risk, as treating customers fairly is a non-negotiable in the financial services industry. With our extensive experience in call centre compliance, as well as keeping up to date with regulatory developments and workshops, we’ll handle the burden of your call compliance assessments.
Our team of skilled Assessors will assess sales calls and processes using a comprehensive scoring tool to provide our clients with an independent overview of their compliance and sales team quality. We can provide a quality score for an individual, a team, or a full campaign.
It is one thing focusing on the acquisition of a customer, but maintaining or ensuring the maximisation of the lifespan of one is a completely different focus and is as important (if not more important) as your acquisition strategy.
We work with our clients to develop a retention strategy based on their specific product and target market, using our in-house data analytics tool and various communication strategies.
Reporting is the key driver and without this real-time reporting one could miss the opportunity to retain a customer. We provide our customers with relevant reporting tools and analysis to enable pro-active retention strategies. The various channels that we use to communicate with our clients’ customers include:
2. Automated Voice Messaging (AVM) service
5. Outbound call centre
Although these are all tools that are relatively simple to use, we ensure an effective retention strategy by using the right tools for the tight market.
Having worked extensively with premium collections, we know that accurate and reliable reporting is important, but that timing is essential to ensure that changes or challenges are quickly identified and remedied.
In-depth analysis based on years of client-specific requests has culminated in a suite of relevant, user-friendly reports. These reports allow our clients to remain in control of their book of business and manage the profitability per initiative or period.
Our reporting solution can be applied to most collection datasets to provide insights based on key measures and industry norms, which will drive sales and new marketing strategies. Talk to us about reporting solutions created to improve business decisions without extensive integration.
Based on over a decade of business intelligence, Collective Dynamics launched our analytical scoring tool – ODDS – which allows our clients to select the right customer base to target for their products through direct marketing.