AIG – Database Marketing for individual insurance - BP Customer Protection Program

Brand: American Insurance Group, Inc.  
Product: SMS based M-Insurance
Company: Pharos Consulting
Partners: Veripark   

Goals: <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

• Creating LEAD database for AIG’s individual customer accident insurance product
• Measuring the efficiency and the potential of new and alternative channels for AIG
• Re-activating BP immense database through a unique customer offer

Solutions:

• A partner program is created following a testing period; value proposal is to provide BP customers, data-mined through BP database, a 3-month individual accident insurance for free (premium doubles when seat belt is fastened during the accident) 
• When the expiration date approaches, AIG organizes outbound calls to respondents for an up sell of a BP-specific insurance product
• BP databases have been segmented upon insurance sensitivity upon purchasing behavior and other attributes like database retention
• SMS-triggered free offers were sent to 25 different groups of customers over the time span of 32 weeks through BP’s trusted and known SMS channel. (preliminary tests show SMS response rates exceeded all other mediums which promote insurance products)
• Customers were expected to send their names, surnames and age through SMS to activate their offers.    

• AIG Offer reached 1.000.000 BP Customers in <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Turkey
• Overall response rate exceeded  10% and is one of the highest response rate in any direct marketing effort in the related sector, providing approximately 100.000 free insured respondents available for up-sell opportunity
• Increase in sales was reached
• Outbound calls are also used to deepen both parties’ database upon vehicle, fuel type and  other data collected
• Operational excellence has paved way for the establishment of m-insurance implementations