How Latcham have worked with leading Insurance and Financial Services Companies to future proof their customer communications
Latcham provides an integrated multi-media fulfilment service that also includes a secure cloud document archiving and retrieval solution accessible by both internal departments and end customers.
The clients requirements had been in providing data processing document compilation, print and fulfilment services, with several data streams generating hundreds of pack variants each day and a complex process with tight SLAs for delivery and quality. There had also been a significant increase in the number of data feeds and the format of those data feeds.
Over the last 7 years there have been huge changes in communication requirements driven by a mix of FSA/FCA regulatory demands but also the need for an enhanced customer journey.
Our response to these changes has been to:
• Move to a white paper solution – All printed personalised documents are digitally printed, negating the need for several variants of pre-printed stationary; reducing obsolescence of pre-printed stock. This also allows our client to react quickly to market changes and their own internal change requirements.
• Post production pack Scanning – This allowing for 100% end to end audit, one added benefit of this was to lead to a postal savings project.
• Postal project – We worked with our client to identify over their complete range of packs where postal savings could be made whilst still meeting the customers SLAs. Once implemented, saved over £90,000 in postage costs in the first year.
• Document archiving and retrieval solution – Initially the requirement for a document archive was for a compliance, but with future requirement in mind we made sure
that the archive as well as containing a dot for dot replica of the personalised communication. This included all associated pre-printed inserts, Policy Booklets, offer flyers etc. so that there was a view of the complete pack that a customer would have received. This was of huge benefit to the Compliance, IT, Underwriting and Marketing Services teams. Access has now been extended to the Customer Services and Call centre teams; who found that it made for improved discussion with their customers. They were able to collaboratively view the same document, greatly improving the customer journey and also reducing query call times by over 20%, resulting in significant savings.
Customer Web Portal
In April 2013 Latcham Direct developed a web portal to allow their end customers to securely log in and view their own policy documents. “E” customers are identified in the data and our processing routines compile and upload the documents to the archive, but instead of printing the documents the end customer is sent an email notifying them that there is a new document for them to view via their secure log in. This has saved in excess of £300,000 a year so far in postage and print costs and there are currently over 130,000 customers using the portal and this figure grows daily. The archive holds in excess of 30 million documents.
All the customer touch points are integrated to provide an end to end solution with complete audit control and transparent reporting.