Castelnau Assists with Dignity's Revolutionary New Funeral Plan Product

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The Challenge

Adoption of funeral plans in the UK is significantly below that of many other countries.

Historically funeral plans have been marketed from a negative perspective, focusing on removing a concern rather than from the products positive attributes.

Highly competitive, this part of the funeral industry (known as ‘pre-need’) has also been subject to poor practices by some product providers in the past.

This in part led to the introduction in the summer of 2022 of FCA regulation for the pre-need sector.

As a market leader, Dignity’s aim was to introduce a new funeral plan offering which not only satisfied the incoming regulatory requirements but refocused the customer purchase decision. There is a belief that in doing so, the potential for growth in this area of the market is significant.

Due to the introduction of FCA regulation, the new offering needed to go all the way from conceptualisation through to authorisation and launch within the space of 4 months.

Castlenau’s Role

Working closely alongside the Dignity team, Castlenau embedded two members of staff within the organisation to scope, conceptualise and bring the product to fruition.

Following a significant amount of in-market research, an initial concept was created which focused on giving the customer a far greater level of choice. This fundamentally more attractive proposition was also combined with a far more positive approach to customer messaging.

Following on from the initial phase of the project, Rawnet, Castlenau’s in-house web agency, was brought in to facilitate the build of all of the related digital elements.

The Outcome

The new product was launched on time, fully FCA compliant and authorised.

Initial feedback was extremely positive from all sides and as the product gains greater traction, it is hoped that this is the start of a structural shift in consumer attitude towards funeral plans.

Kate Davidson, CEO of Dignity plc: ‘The Castelnau team were absolutely pivotal in not only supporting us to deliver the project on time but giving everyone within the business and the industry a new perspective on what we believe should be a far more established and valued consumer product.’

Anonymous competitor: ‘The whole industry was waiting to see what you were going to come up with and now you’ve got us all chasing our tails.’

The most important judge, is of course the customer. In its first four months, the new funeral plan product achieved a customer NPS score of 73 compared to the average NPS score for financial products of 44.

If you don’t yet have a funeral plan, go to www.dignityfuneralplans.co.uk to find out more.

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