General Insurance

Background

An insurance organisation was experiencing an increase in customer growth but a declining written gross premium stream.

Genroe solution

Using Customer Value Mapping, Genroe discovered that the company's higher value customers were churning, and being replaced by low value customers with minimal uncaptured value. Genroe quickly implemented a "save" strategy, which targeted the most relevant churning customers. They also modified the company's current marketing communications strategy to avoid targeting low value customers and focus their resources on customers with higher value potential. As a result of these programs, the client has experienced 12% growth in gross written premium while reducing their churn of targeted customers by 25%.

The Outcome

"Before we engaged with Genroe, we thought that we understood our customers through our customer analytics.  We had tried a variety of customer attrition management and cross sell programs, but never achieved great results. However, Genroe's customer approach resulted in phenomenal results for our organisation.  Their value mapping clarified which customers should be targeted with specific customer management programs and their implementation of these programs was both efficient and very effective, with return on investment in some of these programs improving by up to 20%."       CFO Multinational Insurance Organisation