Strengthening customer relationship management through technology to create a more customer-centric business
Lloyd’s of London were able to empower their global teams to make customer-focused business decisions using actionable insights gained through a single view of their marketplace.
Through moving Lloyd’s on London’s CRM (Customer Relationship Management) system across to Dynamics 365, their staff could always have access to up-to-date customer data, whilst also reducing technical debt and increasing operational savings.
How we helped Lloyd's of London achieve these results
The landscape of Lloyd's of London
Lloyd’s has been one of the biggest insurance brokers in the world since their formation in 1686.
Responsible for billions of pounds worth of insurance, claims and contracts, Lloyd’s have helped insure everything from the Titanic to Whitney Houston’s vocal cords, to the Wimbledon tennis tournament, and everything in between.
As a large, global organisation, Lloyd’s have significant amounts of staff working across different locations, all with their own data and ways of working. Lloyd’s greatest assets have always been their customers, partners, managing agents, and syndicates. It’s so valuable for them to drive forward a customer-centric culture through knowledge and insight sharing across the business.
The challenge facing Lloyd's of London
Parts of Lloyd’s technological infrastructure needed an upgrade, as it was no longer fit for purpose. Their current version of Dynamics could not support the latest Microsoft features, nor was it an evergreen solution. This meant that when Microsoft rolled out security upgrades or released new features, these would not be part of Lloyd’s system.
For an organisation where customers are at their heart, Lloyd’s customer relationship management was key to all their business operations. Using an on-premise version of Microsoft Dynamics CRM had traditionally been enough for their needs, but to keep their organisation as a customer-centric business, they needed to upgrade their system and gain access to all the new features on offer from Microsoft and cloud agility.
Aside from this, Lloyd’s also needed a solution that could:
- Be accessible from anywhere in the world, using any device
- Provide interactivity between different Dynamics apps
- Create a collaborative environment for different processes
- Offer a unified interface that is intuitive, simple to use and low-code
- Maintain and improve their existing third-party integrations
- Scale and grow alongside their usage of Dynamics and the Microsoft Power Platform strategic initiatives
This was a huge technical challenge to achieve all Lloyd’s goals with their new solution, while also migrating hundreds of thousands of records from their on-premise Dynamics to Dynamics 365. To complicate matters further, many of their records were associated with staff members who had since left the business. There were also various customisations and custom visualisations set-up in their Dynamics for charts and calendars which needed to be migrated and kept functional within the cloud.
Our solution for Lloyd's of London
Our solution for Lloyd’s followed a few steps to ensure a successful cloud migration:
Through this solution, we were able to help Lloyd’s implement a new solution to bring cultural change by putting CRM at the heart of the organisation, supporting a customer-centric philosophy. This created a one-stop-shop for stakeholder insights and data, providing a single view of customers, and allowing better informed business decisions to be made.
The impact for Lloyd's of London
The move to the cloud and to Dynamics 365 had a significant impact for Lloyd’s business. As a customer-centric business, D365 supports global collaboration and provides transparency into Lloyd’s customer base to let them gain a deeper insight into their customers and help improve their customer relationships.
Our work with Lloyd’s began during the global pandemic when many were working from home, with the project completed by January 2021. With the new solution in place, Lloyd’s global workforce could access Dynamics with ease remotely and from anywhere in the world, having access to up-to-date data and tools when they needed them.
Aside from this, this migration has provided Lloyd’s with additional cost savings too. By decommissioning their existing infrastructure, we could help them reduce costs for their hardware and maintenance. As a scalable solution, businesses only need to pay for the D365 licence of what they actually use, meaning there are no wasted costs, and Lloyd’s can scale their product up or down as required.
Providing a unified interface that’s intuitive and easy to use, Dynamics 365 also connects to other Microsoft products, such as Outlook, to provide a seamless user experience, streamline processes, opportunities for automation, and promote an efficient way of working.
How this helps Lloyd's of London in the future
With the right technology in place, Lloyd’s is now well positioned to be a real customer-focused organisation, placing customers at the heart of every business decision they make going forward.
Having a scalable and agile solution in place gives Lloyd’s the capability to adapt to any changes in their business, industry, or amongst their customer base for continued success in the years to come.
All this has empowered Lloyd’s to become even more heavily invested in their customer relationship management. Finding and implementing the right technology was just the first step. They now have commitment throughout the organisation to CRM and strategies and targets which can be complemented by D365 and the Power Platform.