Coverfox drives down Cost of Acquisition by 75% with user level quote based personalization
Coverfox is India’s fastest growing online insurance portal where users can compare, buy and manage insurance policies. With an intuitive and transparent platform where can users can easily compare quotes from serveral insurance providers and purchase policies, Coverfox is giving traditional insurance agents a run for their money.
Consumers these days come into contact with a brand at several digital touchpoints. They have grown to expect a personalized experience relevant to them across all these touchpoints. Coverfox was quick to realize this need for personalization to engage their users and grow digital revenue. The strategic objectives were to boost online conversions with cross-channel engagement and drive down cost per acquisition through focused personalization.Coverfox turned to Vizury to help achieve these objectives
Engage personalized the digital journey of users who dropped off – starting from the quotes page through the proposal page and payment page of the Coverfox website. Personalized ads were served on a 1:1 basis to users on Display and Facebook.
In a period of 6 months, the cost of acquisition of a Vizury contributed conversion was brought down by 75% through focused user level personalization. User engagement (CTR) doubled too in this period.
The partnership with Vizury Engage has yielded great results. We have consistently improved both scale and acquisition costs on their platform. Most importantly, we have been able to jointly push the marketing innovation envelope further, a decisive factor for us as we look to disrupt the Indian online insurance space – Jaimit Doshi, Marketing & Sales Head