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.
- 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
- Revenue from online policy aggregator channel jumped by 23%
- Made the product design process much more agile and market focussed