Innovation As a Service
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Business Challenge
A leading mid-sized insurance provider in the EMEA region, traditionally reliant on agent-led sales and legacy systems, sought to modernize its product offerings and customer engagement strategy. The goal was to attract a younger, digitally native demographic while improving profitability and retention across its existing customer base.
| Metric | Result |
|---|---|
| Customer Lifetime Value (CLV) | ↑ 18% |
| Net Promoter Score (NPS) | ↑ 38% |
| Digital Adoption Rate | ↑ to 97% |
| Customer Acquisition Cost (CAC) | ↓ 31% |
The consulting team collaborated with the insurer to develop a modular, usage-based insurance product tailored to individual lifestyles, featuring dynamic pricing, gamified wellness incentives, and AI-powered claims automation. A seamless digital onboarding experience and a customer journey orchestration platform enabled personalized, omnichannel engagement. The solution was co-created with customers, built using agile methods, and supported by a modern MarTech stack and comprehensive change management.
- Low digital engagement (under 40% digital adoption).
- High customer acquisition costs
- Stagnant Net Promotor Score.
- Limited Product Differentiation in a saturated market
Client
EMEA InsureTech
Date
28 June 2022
Category
Innovation As a Service
Location
Europe