A Terragni Case Study Driving Growth in Life Insurance TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL
TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL Client Background Challenge What We Did Strengths Opportunities Solutions Samples Business Outcomes Top 4 Players In Private Life Insurance Sector Offices pan India 638 A Large Workforce Of Insurance Advisors And Other Channel Intermediaries
TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL Client Background Challenge What We Did Strengths Opportunities Solutions Samples Business Outcomes Customer retention and growth More than 63% of customers are not aware or not comfortable with digital payment gateways for renewals Lack of information as a product category & financial instrument (Life Insurance) Low Persistency rate of life insurance policies after 3/5 years of sales
Client Background Challenge What We Did Strengths Opportunities Solutions Samples Business Outcomes Barriers to engagement with Insurance Emotions and attitudes associated with the product category & their impact on customer behaviour Barriers to engagement with the Brand Emotions and attitudes associated with the brand, product & touchpoints & their impact on customer behaviour Barriers to premium renewal transaction Areas of high effort and friction in the renewal transaction TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL
Client Background Challenge Objective What We Did Strengths Opportunities Solutions Samples Business Outcomes TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL 1 2 3 Phenomenological in depth interactions for episodic recall. One-on-One in-depth interactions, 50 hours of interview transcripts Qualitative Insights 2 lakh+ Records – 3 Years Time Span Released to all the customer online studies testing: Trustworthiness, Touch Points Interaction Friction, Redemption Insights Quantitative Insights Consumer Neuroscience Based Widespan Assessment
Client Background Challenge What We Did Strengths Opportunities Solutions Samples Business Outcomes Claim Settlement Ratio- **.** % Reach in terms of physical presence is high TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL
Client Background Challenge What We Did Strengths Opportunities Solutions Samples Business Outcomes Transparency – Totality & Intuitiveness Consistency-Across the entire lifecycle Flexibility- Ability to control outcome TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL
Client Background Challenge What We Did Strengths Opportunities Solutions Samples Business Outcomes Design Relevant and timely nudges to drive customer behaviour shifts (EAST* framework for behaviour shifts) Re-Design Premium Renewal Processes Touchpoints Customer Communication Customer Data Enrichment For focussed solution delivery TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL
SAMPLE You forgot! Your premium is due! Every step towards your child’s dreams counts. And you’re about to miss one! Take the step. Pay your policy premium now. Evolve Insurance Goal relevance
SAMPLE Before After Empathy Gap
Client Background Challenge What We Did Strengths Opportunities Solutions Samples Business Outcomes ⬆Improved Persistency ⬆Enhanced Digital (online) Adoption ⬇Reduced Cost of Service ⬆Enhanced Customer Connect and Contactability TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL
Thank You dipti@terragni.in +91 895 698 2522 TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL
India London Bucharest www.terragni.in www.buyerbrain.com TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL
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