Banking & Finance

Increase in revenue of a insurance company from online marketplaces like Policybazaar Client and Challenge

Our client(insurance brand) wanted to increase its visibility/recommendation on online policy aggregator platforms. They were ranked below 3rd place in most aggregator sites. Also the telesales staff was not recommending their brand in top 3.

Approach
  • Instituted a monthly mystery shopping program. This provided insights on which brands/plans are sold and why
  • Insights were used to better position client’s brand on aggregator platforms
  • Advised client on leveraging the insights to improve engagement with online aggregators. Product knowledge of telesales staff increased and resulted in better recommendation of client’s brand
Impact
  • Revenue from online policy aggregator channel jumped by 23%
  • Made the product design process much more agile and market focussed