About SBI general insurance

• In a highly competitive mutual fund market, SBI Mutual Fund, backed by State Bank of India, sought innovative ways to enhance customer engagement and drive digital investments. By rethinking their approach and implementing smarter systems, they transformed their communication strategy. With the integration of AI-driven personalization and multi-channel engagement through NVECTA, SBI Mutual Fund achieved remarkable results, including increased online investments and improved user retention

Objective

SBI Mutual Fund sought to elevate its customer engagement strategy to better serve its growing user base. Their key objectives included:

• Multi-Channel Engagement : Ensuring seamless customer interaction across preferred communication channels while integrating with the existing infrastructure.
• Scalable Personalization : Implementing targeted and personalized messaging at scale for millions of customers.
• Enhanced Customer Retention : Promoting sustained engagement by connecting users with relevant investment opportunities, such as New Fund Offers (NFOs) and festive campaigns.

Solutions

To meet these objectives, SBI MF partnered with NVECTA to deploy an AI-driven customer engagement platform tailored to their needs. Key components of the solution included:

• Omni-Channel Engagement : Leveraging NVECTA' unified platform, SBI MF seamlessly integrated customer touchpoints such as push notifications (web and app), email, SMS, and WhatsApp, catering to the preferences of modern, tech-savvy investors.
• AI-Powered Personalization : The platform enabled personalized engagement throughout the customer journey, from onboarding to investment renewal. By analyzing behavioural data, SBI MF delivered relevant content and offers in real time.
• Enhanced Campaign Strategies : Onsite Pop-ups: Engaged visitors with personalized investment opportunities directly on the website.
  Broadcast Campaigns: Increased outreach to users during high-impact periods such as NFO launches and festive campaigns.

Results

The partnership with NVECTA led to measurable success across key performance indicators:

• Automation-Driven Scalability :

Successfully delivered 100% automated personalized messaging to millions of customer folios, ensuring consistent communication.

• Improved Campaign Performance

Investment Win-Back campaigns saw a 90% increase in open rates and a 150% rise in click-through rates (CTR) compared to traditional campaigns.

Onsite pop-ups and broadcast campaigns drove a 120% improvement in overall user engagement.

• Increased Digital Conversions

Online investments grew by 20%, facilitated by highly targeted automated campaigns.

NFO and festive campaign investments accounted for a 25% contribution to the digital business, demonstrating the effectiveness of personalized messaging strategies

Conclusion

The collaboration between SBI Mutual Fund and NotifyVisitors exemplifies how AI-driven tools can transform customer engagement. By delivering relevant, timely, and personalized experiences, SBI MF successfully enhanced its digital footprint, increased customer retention, and significantly improved ROI on campaigns.
This case study highlights the importance of leveraging advanced engagement platforms to foster lasting relationships with customers in the highly competitive financial services industry.