Conversica > Case Studies > IoT-Driven Lead Conversion: A Case Study on Vern Fonk Insurance

IoT-Driven Lead Conversion: A Case Study on Vern Fonk Insurance

Applicable Industries

Finance & Insurance
Telecommunications

Applicable Functions

Procurement
Sales & Marketing

Use Cases

Inventory Management
Usage-Based Insurance

Services

System Integration

About The Customer

Vern Fonk Insurance is an innovative independent insurance brokerage serving customers in Washington and Oregon with auto, homeowner, commercial bonds, commercial truck, and commercial liability insurance. Over the past 50 years, the company has continued to grow and has built its reputation on personalized sales and service. The company was facing challenges in engaging and nurturing Internet leads, converting aged leads, and retaining past customers who did not renew their policies. The lack of an after-hours sales group was also resulting in missed opportunities to capture and engage interested leads.

The Challenge

Vern Fonk Insurance, an independent insurance brokerage based in Washington, USA, was facing the challenge of engaging and nurturing more Internet leads without the need to hire additional staff. The company had no after-hours sales group, which resulted in missed opportunities to capture and engage interested leads. Furthermore, the agency lacked a scalable process to convert aged leads and past customers who did not renew their policies. The company was also losing customers to competitors with online systems that facilitated overnight or after-hours purchases.

The Solution

Vern Fonk Insurance implemented Conversica, a sales conversion management platform, to assist its insurance brokerage agents 24/7. The platform was integrated with the agency’s existing customer relationship management (CRM) system, enabling agents to work leads more efficiently. Conversica created automated, two-way email-based communication with leads using a human persona, determined the lead’s intent in real-time by interpreting text in the email response, alerted the agent to contact qualified leads who indicate intention to buy now, and followed up after the agent’s initial contact to continue to nurture the lead and get additional information or feedback. Conversica was used to improve contact and conversion rates across four different types of campaigns and lead types: business hours, after-hours, re-engage, and win back.

Operational Impact

With the implementation of Conversica, Vern Fonk Insurance was able to convert more Internet leads, resulting in increased sales. The sales team was able to engage with more qualified leads as they no longer needed to spend time prospecting or chasing dead ends. The platform also helped the agency engage leads that were considered unresponsive, dead, or idle, extracting as much value from these leads as possible. Conversica was also essential in a win back campaign that targeted customers who had canceled a policy in the last year. The platform kept prospective customers engaged until the next business day, collecting basic information regarding the lead’s needs so that the agent didn’t need to spend time requesting such information.

Quantitative Benefit