Mumbai (Maharashtra) [India], May 15 (ANI/BusinessWire India): Tata AIG, a leading player in the insurance sector, has successfully tackled the challenge of low renewal rates in health policies through a groundbreaking campaign by leveraging the VSPAGY Personalized Video Interactivity Platform.
The company identified that a lot of customers didn't fully understand the benefits of the health insurance obtained from TATA AIG, leading to decreased renewals and customer attrition.
Recognizing the need for an engaging solution, Tata AIG partnered with VSPAGY to implement a personalized video interactivity campaign. The video content was created with an objective to educate and engage the customers as well as to trigger renewals from the video. Video streams with hyper-personalized information are generated in real time, and sent to individual customers through the TATA AIG existing CRM. These video stream links are sent simultaneously at scale via the SMS channel. Each individual video stream highlighted the specific benefits and coverage that the respective customers have under their policy, thereby, leading to enhanced customer engagement and longer video session duration. Other than the personalization layer, the video interactivity plug-ins were part of the video that included links/ renewal call-to-action buttons, thereby making it easy for the customers to renew their policies from the deep link within the video.
The campaign surpassed expectations and the results were exceptional, with cumulative video views reaching 36,961 views between the month of Oct 2022 to March 2023 and the unique video views totalling 9,679. Furthermore, the campaign achieved a remarkable 5570 confirmed paid renewals through the call-to-action prompts integrated within the videos (CTA 58%).
"We have used a lot of marketing tactics and campaigns over the years for insurance renewals," said Abhishek Bawa, Sr. Information Technology Project Manager at Tata AIG. "However the solution that the VSPAGY platform provided has by far been, one of the most effective and has given TATA AIG some amazing results. This campaign has made TATA AIG the first player in the General insurance industry to launch the Video RN Campaign."
Originally planned as a pilot project, the success of the campaign has led to its continuous implementation for over a year. Personalized video interactivity streams are now automatically generated on a monthly basis and delivered to customers through Tata AIG's distribution channels.
The remarkable outcomes of this innovative campaign demonstrate VSPAGY's commitment to enhancing customer experiences and shaping the future of the personalized video communication between enterprise brands and their customers. For more information about VSPAGY and its personalized video interactivity platform, visit the company's website at www.vspagy.com or reach out to: info@vspagy.com.
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