Case Study: LV= Reduced Complaints by 62% With Elephants Don’t Forget

Challenges

For over 180 years, LV= General Insurance has been committed to helping individuals and families to live with financial confidence, with the vision to be “Britain’s best loved”.

LV= remained steadfast to this purpose throughout the pandemic, where it became even more relevant as a trusted financial services firm to identify markers of consumer vulnerability and respond accordingly.

One area of their business that was particularly affected by COVID was employee training. This had previously followed the default approach within the sector, consisting of one-to-one or group training modules that were ‘ticked off’ on completion.

In the absence of consistent training activity under lockdown, LV= recognized that they needed not only to increase their use of existing tools for training but to explore solutions to enhance an employee’s learning journey.

Their objective with Clever Nelly was to support new employees hired over this time, as well as tenured colleagues, who no longer had the same ability to benefit from peer-to-peer learning opportunities.

Solutions / Implementation

LV= have had tremendous success working with Clever Nelly since March 2022.

“We’ve been able to be really reactive with Clever Nelly, quickly cementing knowledge after training has been rolled out.” – Paul Goodman, Customer Experience and Training Manager

The Results

Employee competency has increased by more than 20% across all six user groups, with a highest group improvement of 38%.

These improvements in knowledge have translated into significant customer service and operational improvements for LV= and their customers.

In tandem of their efforts with Nelly, complaints have dropped by approximately 62.5% from the peak volumes seen at the height of COVID, with average call wait times down from 10 minutes to 1.5 minutes in some areas of the business.

There’s been a lot of knock-on effects to service levels: average call times have gone down, complaints have gone down and attrition is significantly lower.

Looking more closely at the measurable benefits achieved through Clever Nelly:

• 30% Average improvement in employee competency in three categories: ‘data protection’, ‘identifying complaints’ and ‘vulnerable customers’.*
• 42% Improvement in employee competency for ‘vulnerable customers’ since March 2022.
• 62.5% Approximate average reduction in complaints compared to COVID complaint levels.

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This post has been re-published by kind permission of Elephants Dont Forget - view the original article.

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