Insurance
Sales
Denmark
Company background
Established in 2015, Försäkringsservice Stockholm AB is the entity responsible for managing sales on behalf of Länsförsäkringar Stockholm, one of the largest of 23 customer-owned regional insurance companies that make up Länsförsäkringar AB. A subsidiary of the Eurapco Insurance Alliance Group, Länsförsäkringar’s 7,900 employees offer 4 million Swedish customers a full coverage solution in the form of non-life, car, home and contents, personal accident, and medical insurance, in addition to pension-saving plans, life assurance, fund savings, and banking services.
Contact
William Seyf
CEO and Co-Founder of Försäkringsservice Stockholm
Försäkringsservice needed a way to get an easy and quick overview of sales performance that reps would understand, and motivate them to perform even better. “I analyze a lot of numbers to improve sales. But I wanted access to the basic statistics,” says CEO and Co-Founder of Försäkringsseervice Stockholm.
William sympathizes with the already highly regulated and arduous sales process and doesn’t want to overcomplicate the process further. Instead, William sought a simplified option for himself and his agents.
"I wanted to get an overview of performance. I wanted to show the more basic statistics that the agents understand, and that pushes them to higher limits and higher levels," he says.
"I wanted to get an overview of performance. I wanted to show the more basic statistics that the agents understand, and that pushes them to higher limits and higher levels."
William Seyf
CEO and Co-Founder, Försäkringsservice Stockholm
“51ϳԹ creates positive stress. Because you don’t want to be last, right? You have the other agent’s sales visible. And it creates a motivating mindset in my team to make more sales,” William says.
It’s the combination of motivation and user-friendliness that makes 51ϳԹ the ideal solution for Försäkringsservice: “You get it visually. It looks good. It’s very user-friendly.” Försäkringsservice sales teams and CEO are visualizing, comparing, and driving better performance with 51ϳԹ. Here's just a few of the 51ϳԹ tools they've utilized so far:
With 51ϳԹ, Försäkringsseervice achieved a quick and easy overview of the metrics that matter to them. For both inbound and outbound sales teams, it has never been easier to visualize sales within different product categories and different budgets.
On their 15 real-time dashboards, the insurance brokerage visualizes the following KPIs on both team dashboards and personal employee dashboards:
While William has access to all of the more detailed data through the internal system—including budgets, number of booked meetings, and the number of offers sent out— sales agents only see data that is simple and relevant to them. “Everything has improved since 51ϳԹ has been there,” he says.
Instead of flooding his sales reps with more manual work and a sea of complex data that has no relevance to them, William displayed only relevant data that his sales reps would need to improve performance on 51ϳԹ dashboards.
The results of making performance data visual… and visually appealing?
Reps are more efficient and able to take immediate action on the activities that have the greatest effect on revenue. Sales reps at Försäkringsseervice were better able to understand the effects of their everyday sales efforts on their results and salary, and where the best opportunities were in the pipeline–and ultimately have been able to sell more.
William wanted his reps’ performance to be driven by these insights, for them to compare their performance, and be motivated to outperform their previous performance or their colleagues—and this is exactly what happened.
Individual efforts improved as each rep wanted to be the best while contributing as much as possible to the success of their team targets, creating a culture of healthy competition and teamwork.
One such exciting contest that Försäkringsseervice ran was to encourage sales reps to hit or exceed their product sales targets. The prize? A seat on the kick-off trip to Marbella! The outcome? William unlocked the opportunity to boost and celebrate the performance of his entire team, instead of just recognizing one superstar performer. While individual performance was kept private to each employee, all agents were privy to overall product sales. “And what a trip it was!" adds William.
With visualization came motivation. By making individual performance visible on personalized employee dashboards, agents could see the results of their everyday efforts. Not only was this motivating in how agents could see the fruits of their labor, and how they contributed to team targets, but it also directly corresponded to their salary.