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Retention Case Study

Submitted by driasi_admin on Wed, 12/17/2014 - 13:44

Business Need/Challenge:   A large insurer wanted to reduce lapsation and improve the long term financial performance of its life and supplemental insurance portfolio.

Our Answer:  driasi implemented an enhanced retention plan to reach out to customers directly, should there be any missed payment.  By contacting customers through a daily outbound call center initiative, driasi is able to retain an average of 87% of customers contacted.

The Result:  The results include a marked improvement in customer experience, reduced lapsation and significant long term financial improvements to the portfolio.  

  • 19,917 annual policies saved 2014
  • $3,346,653 total premium improvement 2014
  • 5 year impact of additional premium (based on 2014 improvement)

 

 

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Case Study