Market Insight & Proposition Development
We work directly with the administration providers themselves on certain aspects of their administration delivery or development strategy. For example, one provider was keen to become more connected to emerging market trends and to understand how administration services need to evolve over the next 5 years, in order to ensure they remain in line with future client and market requirements.
This is totally aligned to our service optimisation philosophy and so we were excited to work with them on a project that will potentially lead to a ‘raising of the bar’ in terms of general administration standards in the industry.
Our programme of work in this case, involved a fundamental market insight exercise covering nearly 40 face to face and telephone interviews with Trustees, Sponsors and advisors. Our brief was not to be constrained by existing operational models or service commitments, but to basically start with a ‘clean page’.
We explored areas such as;
- Is it acceptable that member data isn’t 100% accurate?
- Why is a mobile banking model not appropriate for our industry?
- Is gamification the answer to member education and engagement?
- What should administration look like ina ‘fully flexible’ world?
This threw up some fantastic ideas and suggestions, from which we have been able to develop a market leading, client and member focused administration service proposition which our client will be launching into the market in the near future.
“Sometimes the view from inside can be a narrow one. Working with Cosan Consulting has
helped broaden our outlook and given us focus and clarity in achieving our business aims. It
comes as a bonus that they are engaging, stimulating and fun to work with.”
Chief Financial Officer
Our market needs a new perspective. Traditional approaches to trying to attain service excellence have not been successful and have undermined investment and confidence from clients and providers alike.
We think it’s time to try a different approach, one that builds on value and puts members at the heart of administration strategy. This is service optimisation in action and after all, isn’t that what it’s all about?