About SBI general insurance
- In a fiercely competitive insurance market where more potential customers needed to be accessed, SBI General Insurance, which is supported by State Bank of India, looked for other ways of reaching the consumers. They chose to re-strategize their efforts and use smarter system for finding and nurturing leads - and it worked. With a few tweaks, among which was AI-enabled lead scoring, SBI General experienced some great improvements across the board’
Objective
Increase Lead Volume
SBI General Insurance sought to boost inbound lead generation by optimizing lead capture forms and offering tailored incentives to potential customers.
- Increase Lead Volume SBI General wanted to boost its inbound lead generation through optimized lead capture forms, targeting potential customers with tailored offers and incentives.
- Improve Lead Quality Instead of relying on generic leads, they wanted to use AI to assess the quality of each lead and assign scores that could help prioritize follow-ups.
- Enhance Lead Conversion By automating lead nurturing and segmentation, they hoped to move potential customers down the sales funnel more efficiently.
Solutions
About SBI general insurance adopted NotifyVisitors, implementing the following key strategies:
- Custom Lead Forms These forms were designed to capture essential information (such as name, contact details, and type of insurance interest) while also asking qualifying questions that helped in segmenting leads by interest and readiness to purchase.
- AI-driven Lead Scoring Model Leads were scored in real-time, based on predefined factors such as age, location, type of insurance interest, engagement with content, and past behavior (e.g., time spent on product pages). High-value leads were sent to the sales team immediately, while lower-value leads were nurtured through email drip campaigns and retargeting ads.
- Abandoned Form Recovery The automation system also triggered follow-up reminders to users who abandoned the form midway, helping to recover leads that might have been lost otherwise.
Results
- 28% increase in lead submission
- Improved lead qualification efficiency by 35%
- 20% increase in lead-to-customer conversion rates
- 40% increase in overall new acquisitions
- 15% reduction in customer acquisition cost
- 30% increase in ROI on marketing spend