CASE STUDIES IN INSURANCE
Insurance Science DM knows how to get results
OUR DATA DRIVEN STRATEGIES ARE BUILT BASED ON EACH CLIENT’S NEEDS, SO THAT YOU GET THE RESULTS THAT YOU NEED FOR YOUR COMPANY’S GOALS.
Explore our case studies by insurance industry to see how our custom solutions are developed to get results. The numbers speak for themselves.
CATEGORY
Medicare Advantage
GOAL
Rapid Growth
TACTICS
Direct Mail | Triggers | Creative
SITUATION
Client is a large IMO contracted with several carriers to offer products and has a national network of producers. Previously they were only buying online leads and generating leads through digital ads. They had rapid growth goals and were looking to scale their volume significantly. The client was seeking alternative acquisition channels and looked to ISDM to help get their direct mail initiatives off the ground.
APPROACH
ISDM started test marketing campaigns during the 2019 AEP period. Audience selection is based on industry specific models, triggers, proprietary lists, behavioral data, and more. We also developed high performing, action-based creative.
RESULTS
Target response and conversion benchmarks were significantly exceeded. Response was over 3.65%. The client was also naturally concerned about overlap with existing digital channels. ISDM delivered incremental leads with limited overlap with digital channels and >75% unique audience identified. The program then expanded throughout 2020 and is quickly ramping up spend and volume. Additionally, ISDM is now testing predictive models to target new audience segments of likely Medicare buyers.
RESPONSE WAS OVER
3.65%
UNIQUE AUDIENCE IDENTIFIED
>75%
EXPANDED THROUGHOUT
2020
I have been an avid client of Lending Science for over 7 years now. They are such a viable part of the marketing strategy and turnkey execution. I have tested against their data, creative, and overall content with not much success in beating it. They are 100% invested in their clients and their successes. Hands down the best group of people you could align yourself with in this industry.
INSURANCE SCIENCE CUSTOMER
CATEGORY
Medicare Age-In
GOAL
Year-Round Enrollment Program
TACTICS
Audience Segmentation | Creative
SITUATION
Client is an IMO that markets their product nationally. Previously they were focused on marketing Medicare products only doing AEP. They were looking to set up a year-round enrollment program. They had a small team internally with limited direct mail experience, and were looking to ISDM to create an ongoing Medicare program to target consumers aging in.
APPROACH
ISDM started test marketing in January 2020. The audience segmentation was based on consumers aging into eligibility, econometric data, health interests, and more. The creative focused on building a sense of urgency to act and the contact methods involved multiple touches.
RESULTS
The age in program achieved a 1.97% response rate and exceeded conversion metrics. Overall, it was comparable to AEP results. The program expanded throughout 2020 and is quickly ramping up spend and volume.
RESPONSE RATE
1.97%
EXPANDED THROUGHOUT
2020
I have been using Lending Science for over 5 years now, and without a doubt it is the only company I would trust with my marketing dollars. I have always had a great ROI using their company.
INSURANCE SCIENCE CUSTOMER
CATEGORY
Life Insurance—Retargeting
GOAL
Better Leverage Internal Leads
TACTICS
Data Reboot | Creative
SITUATION
Client is a national life brokerage and generates most of their leads via affiliate and digital marketing. They had limited success with retargeting existing leads as their CRM data was fragmented. The client was looking to ISDM to create a robust and ongoing program to better leverage internal leads.
APPROACH
ISDM began test marketing during Q4 2019. Audience segmentation was based on industry specific models, demographic, life stage data, and more. We optimized data fill rates leveraging historical online data repositories and machine learning to make the data actionable. ISDM also developed creative with strong messaging and call to action.
RESULTS
The client was able to contact >80% of consumers they were previously unable to reach. They achieved 1.70% response rates and 4x lead volumes versus other re-marketing channels. The cost per lead from this program was lowest across all marketing channels. The campaign also yielded very high conversion rates resulting in the best cost per acquisition metrics.
RESPONSE RATE
1.70%
NEW CONSUMER CONTACT
>80%
LEAD VOLUMES
4X
I've worked with Lending Science since their inception and they have continually provided the highest level and most comprehensive approach to direct marketing that I have experienced. I highly recommend them.
INSURANCE SCIENCE CUSTOMER
CATEGORY
Individual Health Insurance
GOAL
Improve Marketing Metrics
TACTICS
Proprietary U65 Models
SITUATION
The client is a specialty health insurance provider to individual buyers not covered through their employers. They were seeking to improve marketing metrics and profitability as their previous direct mail efforts were underperforming.
APPROACH
ISDM began marketing during 2019 AEP. Audience segmentation based on proprietary ISDM U65 models, demographic and life stage data focused on early retirees, gig workers and sole proprietorships. ISDM targeted specific segments based on expected lifetime value.
RESULTS
The campaigns delivered nearly 2x lift in response rates while significantly boosting conversion. The client’s profitability goal was met based on scientific targeting of potential prospects.
RESPONSE RATE LIFT NEARLY
2X
CONVERSION RATES
>40%
PROFITABILITY
+1.5
Great marketing company with excellent technology. John and his team always have my back and deliver tremendous ROI.
INSURANCE SCIENCE CUSTOMER
CATEGORY
Final Expense Insurance
GOAL
Challenge Internal Marketing Efforts
TACTICS
Response Driven Lists | Creative
SITUATION
Client is a super agency offering a variety of guaranteed issue products. They are mostly focused on cross-sell to existing policyholders as previous acquisition efforts were not meeting required performance metrics. The client was looking for a challenger to test against internal marketing efforts.
APPROACH
ISDM identified audience segments based on ISDM models, online behaviors, response driven lists and demographics. ISDM also developed creative based on a strong call to action and highlighting product benefits.
RESULTS
The agents were happier with lead quality and expressed increased satisfaction. The campaign exceeded face amounts by 20% compared to previous programs. Response rates exceeded 1.30%.
RESPONSE RATES
1.30%
FACE AMOUNTS
>20%
LEAD VOLUMES
1.8X
We have used them for two years and they have been a great partner. The team genuinely cares about the results of the campaigns they ran for us. Anytime there was an issue, it was addressed.
INSURANCE SCIENCE CUSTOMER
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