Cuentame Nearshore BPO partners to reduce customer Churn by 70%

 

The world’s largest publicly traded property and casualty insurance company needed help to increase customer retention in their highly competitive insurancemarket. Too many customers were dropping the coverage without notification but simply by discontinuing premium payment during the first coverage term.

The Cuentame Solution
Cuentame developed a lifecycle Customer Journey Model to 1) increase the customer's recognition of the value of the insurance coverage and 2) create data points to identify potential risk factors and cancellation indicators. Leveraging its omnichannel tech stack and expertise, Cuentame implemented a proactive communication strategy to cost-effectively engage with the customer upon the initial sale, after 24 hours, and at established intervals over the months the policy is in effect. By using multiple channels with personalized yet automated communication, Cuentame helps customers recognize the coverage benefits and value and increases premium levels for its client.

The Client Results
Within 6 months of implementation, Cuentame drove a 70% decrease in customerchurn, cost-effectively improving the profitability of the client's market offering. Policy upsell and cross sell efforts result in a 21% increase in monthly premiums. About Cuentame Nearshore BPO. Operating from sites in Costa Rica, Guatemala,and Honduras, Cuentame is a proven expert in insurance sales and care, warranty customer service and dispatch.