contactus@servicesats.com
+91-129- 6612001

Case Studies

Winning back customers leading to better persistency

Business Need:

Our client, a leading midsized Insurance company, assigned us to design and manage a renewal campaign for lapsed policies, covering a customer base of approximately 300,000. Timeline was a key constraint as the client wanted to assess a meaningful impact in 45 days.

Our Solution:

We designed and implemented a fulfilment channel to service the lower premium accounts. The fulfilment process was supported by an application to track the logistical effort for better control and productivity. The communication strategy focused on effectiveness and speed of coverage of the customer base .It was calibrated during the campaign to achieve the targeted effectiveness level. MIS and insightful customer feedback was also provided to the client. Identification/treatment of non-contactable base was done to enhance renewable potential.
 

Process:

Our approach was to establish two test campaigns. The result from the test was used to design and implement a scaled up customer outreach program. Factors including regional response rates, premium ticket size trends, and field capacity requirements (in client organization) were incorporated into the program build.

Result:

Our solution helped the client register a significant increase in renewal rate in two months on a cost effective basis.