The client’s aim was to grow their share of the home insurance market by acquiring highly affluent customers that traditionally purchases their home insurance directly through providers.
Our approach was to introduce direct response acquisition channel which could create standout in a highly-cluttered market, whilst driving direct quotes, produce incremental sales and yield a positive ROI.
Through proactive research, we identified a powerful insight. 49% of the Hiscox target market still perceive the cost of insurance as the main driver for reappraisal. We also identified that a majority of this audience were under-insured, as a result of their choice of provider.
In a category where consumers are encouraged to only care about the price, we needed to create a way to make consumers care about the cover.
Our strategy was to disrupt their apathy and get the audience thinking about the cover their insurance provided, or not.
To deliver this message we had to take a high value item that many would know is insured, and then disrupt their complacency by highlighting what within it might not be covered – the precious items contained within. The Wardrobe was born.
Using multiple data criteria, including Hiscox’ proprietary targeting methodology, as well as insurance renewal information, the omni-channel campaign was sent to a highly-targeted group of individuals who require non-standard home insurance.
We identified the optimal Hiscox purchaser by modelling their current customer base. We then applied this criteria to a number of third party data providers to give us the target.
“WDMP made an instant business impact, growing our direct sales channel across all products increasing incremental sales and lowering CPA.”
Will Abbott - Marketing Director at Hiscox