Customer Interview with Silvia Rick from Canada Life
is Head of Brand Management at Canada Life Germany. Canada Life was founded in 1847 as Canada’s first life insurance company in Hamilton, Ontario. In Germany, Canada Life is one of the largest companies in the broker market for unit-linked products. Since May 2019, Canada Life has been using Brandification Software as brand management tool. We spoke with Silvia Rick about her experiences with the software.
Silvia Rick, thank you very much for taking the time! What relevance does the topic brand have for Canada Life as a financial services provider?
A high one. Because as an insurance company we have no product to touch, smell or taste. We “sell” a promise on a piece of paper and thus enter into a long relationship with our customers. This is based on trust over 30, 40 years and more – when we talk about pension insurance, for example. That’s why brand plays an important role for us in all the places where the customer and business partner experiences Canada Life. This goes far beyond classic marketing. Everyone at Canada Life contributes to the brand in their daily work.
What challenges does Canada Life face in this area?
As a Canadian insurance company, we have been given a few plus points from the getgo. Canada as a country has a very positive perception in Germany, which helps us in our brand work. However, it is crucial that we make the Canadian spirit tangible. We want to be likeable, creative and empathetic – in other words, typically Canadian. And at the same time, we want to deliver what makes a strong insurance company. Namely responsibility, security and a sense of community. This requires a positive corporate culture that all employees live, regardless of whether they have a management function, are in direct contact with customers or control processes in the background. Fortunately, we already placed great emphasis on the importance of the Canada Life brand when we entered the market in 2000. And we built the brand from the inside out, so to speak.
What role does digitalization play for Canada Life when it comes to the brand?
Our brand experiences are also becoming increasingly digital. In recent months in particular, digital brand touchpoints have gained in importance – as they have in many other companies. A great opportunity for positive customer experiences that deliver on the brand promise. Anyone who manages to act authentically as a brand here and who meets customer needs will certainly be ahead in the future.
Why did you choose the Brandification Software as your brand management tool and what was your objective?
Three things were important to us after the introduction of the new brand strategy: We were looking for a simple system to document developments at the brand touchpoints. Progress should be easily measurable and we wanted to make the work on the brand transparent. The Brandification Software can do all of this. The tool was quickly adapted to our needs with the Brandification team and the Canada Life brand rules were added. Now we have a good overview of the touchpoints that are already well-managed and where there is still potential.
How does Brandification help you control and optimize your brand touchpoints?
Our claim is not to stand still, but to continuously improve. This means that we regularly review the touchpoints with our customers and business partners and identify where we can improve so that the customer experience matches our brand promise. We have adapted brandification individually to our questions. This helps everyone who works with the tool to proceed in a structured manner. We are already very excited about the next analysis, which will hopefully bring even more “green light” ratings. That’s motivating!
To whom would you recommend the Brandification Software?
If you have clearly defined your brand and determined when a touchpoint fits the brand and when it doesn’t, Brandification offers real added value. Brand work becomes transparent and offers the chance to take all important areas in the company with you on the way to even better customer experiences. Brand becomes a positive experience both internally and externally.