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

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

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

Conversica

Applicable Industries	Finance & Insurance Telecommunications
Applicable Functions	Procurement Sales & Marketing
Use Cases	Inventory Management Usage-Based Insurance
Services	System Integration
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. Read More
About 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. Read More
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. Read More Log in to view content
Contents

Applicable Industries

Finance & Insurance

Telecommunications

Applicable Functions

Procurement

Sales & Marketing

Use Cases

Inventory Management

Usage-Based Insurance

Services

System Integration

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.

About 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.

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.

Impact #1	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.

Impact #1

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.

Benefit #1	Conversica helped Vern Fonk Insurance sell 874 policies in four months.
Benefit #2	The platform worked 11,780 leads.
Benefit #3	Conversica engaged 2,306 leads.

Benefit #1

Conversica helped Vern Fonk Insurance sell 874 policies in four months.

Benefit #2

The platform worked 11,780 leads.

Benefit #3

Conversica engaged 2,306 leads.

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Overview

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

Operational Impact

Quantitative Benefit