Client background
This Asian life insurer has built up a strong presence in Hong Kong over the past three decades. It employs a forward-looking strategy to the Group’s insurance business. They seize every development opportunity presented by the vibrant Guangdong-Hong Kong-Macao Greater Bay Area and collaborate in a variety of businesses with the Group.
The challenge
The company wanted to reach new clients for the savings + protection product through online distribution, yet faced challenges since there was no digital onboarding experience for users to be able to self-service and customize their plan; adding on the fact that the onboarding process was long and there was no way for the information to be saved for later, customer onboarding was difficult, tedious and unappealing.
The lack of digital onboarding meant that there was a large amount of redundant data entry from long form processing – needing to transfer all the information across multiple stakeholders and platforms
They also wanted to increase conversion rates through retargeting, securing higher form application rates and lower dropouts.
The solution
CoverGo has built a full online distribution platform for their clients to fill in the form for purchasing their Brilliant Saver 2 plan and allow clients to save progress by creating an account during the journey. Marketing automation is also enabled for clients who do not complete forms, being retargeted through email reminders and communications.
Business impact
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Improved customer satisfaction on its professional services in onboarding clients to products with a frictionless and user-friendly customer experience
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Increased customer retention by enabling automated marketing notifications and account creation to save progress
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Lowered customer acquisition cost by offering self-servicing and policy processing lead time while customer satisfaction increased.
