Kotak General Insurance achieves a 525% increase in clicks and a 41% conversion in policy renewals with the help of Netcore’s customer engagement solutions

Challenges:

Kotak General Insurance sought innovative solutions to improve customer retention through higher renewal rates, increase mobile app adoption, and establish its presence on new distribution channels.

Primary challenges:

• Increase policy renewal
• Increase upsell & cross-sell
• Increase App downloads

Solutions:

Kotak General Insurance, with the help of Netcore’s platform capabilities and consultation, executed campaigns that revolved around leveraging innovative approaches tailored to specific key performance indicators (KPIs):

1. To boost app downloads, they implemented an automated series of communications. This involved triggering messages based on user actions, ensuring a cost-effective and comprehensive coverage across multiple channels.
2. In terms of cross-selling, they focused on engaging users at their preferred times with AI-generated content. Leveraging AI-powered Send Time Optimization and content generation allowed them to provide personalized and timely offerings.
3. To enhance engagement rates, they implemented VMC(Verified Mark Certificates) BIMI — email brand logos. This strategy aimed to strengthen their brand image and trust among the audience. By incorporating elements such as the blue tick and brand logos into their email communications, they aimed to enhance recognition and credibility.
4. To improve their domain reputation, they employed RFM (Recency Frequency Matrix) analytics and segmentation. By analyzing user recency and frequency coupled with segmentation strategies, they targeted their campaigns effectively, thereby enhancing their domain reputation.

Finally, they expanded their engagement channels for new user activation by integrating WhatsApp and Google RCS. This allowed them to establish a broader presence and activate new users across various communication channels, facilitating seamless and interactive experiences.