Increasing Online Conversions For Insurance – A Comprehensive Checklist

Client interactions are the best sources of inspiration for blog stories, at least for me.

This blog is a result of three interactions I had with senior leaders from the insurance industry over the past month or so.

  1. The CEO of a leading insurance company stated ‘I want to double my premium revenue from my online business in 1 year’
  2. The CMO of another insurance company asked ‘How can digital acquisition help me decrease Cost of Acquisition (CoA) by 50%?’
  3. The Head of Digital of another Insurance company questioned ‘How can I enhance user experience of my website visitors using gamification?’

I was intrigued to learn the importance of digital conversions from senior executives since Insurance has traditionally been an Agent and Bank assurance led business.

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As I reflected on these questions, I realised that increasing online conversions and decreasing CoA rely on 3 key aspects:

  • Audience profile
  • Offline & Online data
  • Omni channel personalisation

I have put down my thoughts in form a checklist to help Insurance Brands assess their digital conversion strategy.


  1. Are you able to identify one time visitors, recurring visitors and leads among your website visitors?
  2. Are you able to identify existing policy holders in the ‘non-logged in’ pages among your website visitors?
  3. Among existing policy holders, are you able to identify one time visitors, recurring visitors and policy holders doing online renewals?
  4. Are you able to classify leads as Hot, Warm and Cold based on buying propensity?
  5. Are you able to create ‘look-alike audience’ for each product?


  1. As visitors generate quotes on your website, are you able to capture and use ‘user level‘ online variables (e.g. premium amount, birth date etc.) for real time personalisation?
  2. Are you able to execute advanced segmentation on your data? For example:
    • Complex Rule based Segmentation
      In the last 7 days, create a segment of users who have visited your website at least 3 times looking for a specific product but not yet purchased
    • Real time Segmentation
      A visitor visits an insurance website at 10am and generates quote for a life insurance plan. Visitor revisits on the same day 30 minutes later at 10:30am and sees the Home page banner personalised with a life insurance plan along with the premium amount
  1. Do you make use of 3rd party data to enrich user profile?

Use case: A user visit’s your website and displays ‘Implied parent’ persona via 3rd party taxonomy data. This user is shown ‘Kids plan’ on the website’s Home page banners.

  1. Do you use any of your partner data to create personalised experiences?
  1. Are you able to use renewal data to show personalized messaging on channels other than Email, SMS and Call Centre?

Use caseAn existing policy holder’s premium is due for renewal

– A personalised Home page banner or Site notification prompts him to renew his policy
– While browsing the internet, he receives a Browser notification prompting him to renew
– While he is on Facebook, a personalised programmatic ad is shown for renewal reminder

  1. Are you using upsell and cross sell data to show personalized messaging on channels other than email?


  1. Are you able to engage your audience on a 1:1 basis across various engagement mediums?

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  2. Are you able to nurture leads across channels other than Email, SMS and Call Centre?
  3. Do you capture channel preferences of every website Visitor/Customer?
  4. Is cross channel synchronization a part of you personalisation and optimization strategy?
    • Use case 1: A policy holder is due for renewal

      • He sees the renewal banner on the website first and doesn’t renew
      • After 24 hours he see a web push notification for renewal reminder and renews the policy

    • Use case 2 : Channel preference and synchronization
      • A customer is due for renewal and has FB and Browser Push as preferred channels
      • He receives a Browser Push Notification for renewal reminder, clicks on it and doesn’t renew
      • After 48 hours, he sees a renewal reminder on Facebook and renews his policy

Knowing your audience, using offline-online data and driving omni-channel engagement are the three key requisites for increasing digital conversions or decreasing CoA for the Insurance industry. While choosing specific use cases to drive early wins is good for internal buy-in, long term success will depend on holistic implementation of these three aspects.

Look forward to hearing your view on this. Don’t hesitate to write back to me at

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