Two initiatives aim to attract new business and win back former clients
Royal & SunAlliance (R&SA) has launched two initiatives using brokers to gain new business and win back lost clients for its commercial division.
Target Trade is an initiative aimed at winning new business in three sectors.
Corporate business director Brendan McManus said Target Trade, launched this month, would initially focus on electronics and electrical industries, plastics, and sports and fitness.
He said R&SA was looking to write combined policies of property, casualty and motor products in each sector. "We will be developing a proper industry based proposition with specialist underwriting," McManus said.
Next month another three sectors - metalworkers, professional services and retail - will be added, and McManus said that R&SA was aiming to increase the number of industries targeted to 10 or 12 by the end of the year.
Another initiative, the Win Back campaign, involves re-establishing business relationships with around 3,000 commercial policyholders, who had migrated from R&SA to other insurers.
McManus said brokers had a key role to play in helping R&SA win back these customers and it was currently talking to brokers about which customers it was targeting.
He acknowledged poor service and higher prices were among the reasons that customers had left R&SA. "We're not embarrassed to say that we got something wrong," he said.
McManus said the initiative, part of a three-year strategy that began in March, had already proved successful with six customers returning to the insurer.
He said that the key reason they returned to R&SA was because of service, not price.
Aside from an investment in customer relationship management software to examine its customer base in more detail, McManus said that the initiative was not costing R&SA anything.