CP Consulting ROPO in practice: experiences and case studies

Comarch Insurance Distribution Breakfast -

ROPO in practice: experiences and case

studies

Brussels, 20th October 2016

Agenda

2

About us

The “digital client” and his expectations

What is ROPO?

How can we make ROPO a success?

Case study

CP Consulting

Management consulting and

Market research company

Based in London

Specialized in the

Insurance sector

We monitor customer and distribution trends in the

insurance industry

3

Our research

Insurance Price

ComparisonMobile

Our research focuses on Innovation and Distribution

Trends in Financial Services

Connected

Home

4

Millennials

Agenda

5

About us


What is ROPO?


Case study


6

Clients are more and more «Connected» via

Smartphone, Tablet e Laptops

The way customers gather information, choose and purchase

products are quickly evolving


7

The line between online and offline Customer

Journey is becoming more “blurred”

Often the Customer Journey starts online, on Social media or

on a search engine or on a PCW and then continues offline


8

Belgium has among the highest ROPO in Europe,

after Italy and France

21%

34%27% 28% 27%

23%

0%

20%

40%

Belgium UK Germany France Spain Italy

% Online Sales

28%24% 23%

29% 27%34%

0%

20%

40%

Belgium UK Germany France Spain Italy

% Research Online / Purchase Offline


9

Once at point of sale, «advice» can influence the purchase decision in a material way and the type of product purchased

Importance of online presence Effectiveness of ROPO

0%

5%

10%

15%

20%

25%

30%

35%

40%

Online ROPO

Conversion

7-15%

25-50%

Purchase

Decision

First contact

with salesforce

Agenda

10

About us


What is ROPO?


Case study

Overview of ROPO within the marketing funnel:

objective is to capture “leads”

11

Research

On

line

Pu

rch

ase

Offlin

e

ROPO is based on a funnel aimed at generating leads online for your salesforce, which then works on conversion

Attract clients through SEO or advertisement, generating traffic on our landing page

1

Offer free content on the landing page with a clear «call to action»

2

Offer ««freemium» content to those responding to the call to in exchange for some personal data

3

Use these data to contact prospects and to convert leads into clients

4

Successful ROPO models make correct use of its core

ingredients

12

Research

On

line

“Hook”, audience and $

spent

Landing page and “call to

action”

Premium Content

Contact form and tracking

• Has to be powerful. Best include questions,

quizzes, …. Insurance “quote&buy” not enough!

• Audience has to be big enough, else nothing

comes out at the bottom of the funnel

• Presents value proposition clearly and succinctly

• Has one “call to action”, which is preeminent

• Offers clear opportunities to learn more in detail

before accepting the “call to action”

• Interesting and well structured

• Not over-abundant, so it can be read real-time

• Any additional content is hidden behind “wall”

• Very limited number of fields

• Offers a tracking code/tool to be used in-store

• Allows to choose store which will follow up

Topics that are attractive for your audience vs. the ones you like

13

Sport1

2 Gossip

3 Blogs and cooking pages

5 Daily News

4 Entertaining Videos

Find ways to entertain… Insurance is very boring for

the average consumer

Topics your audience is interested in

Topics insurers talk about

Family protection1

2 Wealth protection

3 Professional Indemnity

and Business Insurance

5 Related topics (road

safety…)

4 Investments and Savings

Example: Zurich Italy

Ad and «call to action»

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Call to action in the Ad: Visit Zurichcasa.it Benefit: discover your ideal Home and youcan win €50 in Amazon or Apple vouchers

Facebook Ads

Example: Zurich Italy

Landing page and further «calls to action»

15

Organization and incentives to ensure correct

management of leads and optimization of conversion

16

Pu

rch

ase

Offilin

e

Share vision

Agree commercials

Share “best practices” / offer tools

Track referrals and monitor

results

• Your distribution partners will need to work on

converting the leads generated online

• If they do not understand, are not committed to

the model, it simply will not work

• For single-tied agents, can work on converted

leads/commissions

• For brokers/multi-tied agents, work per lead

• Your field partners will need to be trained /

supported on leads tracking/management to

maximize conversion

• Need to review results with partners and define

improvement plans to achieve the best results

Getting the customer data is only the first step. You need to improve how these leads get turned into business

Agenda

17

About us


What is ROPO?


Case study

Does and don’ts in conceiving a successful ROPO

model

18

Does

• Cover topics that are

attractive for your audience

• Make it fun!

• Build trust

• Leverage social media and

influencers

• Partner with salesforce

Dont’s

• Don’t sell a product, address

a need

• Don’t built it all, but provide

the key ingredients to your

distribution partners

• Don’t compromise on

Journey and Experience

• Don’t transpose messages

and ads from offline

Key design questions (1/2)

19

1. What is the overall objective of our ROPO initiative? Gather contacts? Offer

configurable product information? Offer accurate quotes or indicative ones?

2. What will be the hook to engage with the consumer? Quiz, competition,…

Have we tested the effectiveness of a similar hook before?

3. How is the landing page going to be designed? Does it apply all the best

practices? Is the proposition we offer truly compelling? Is there the right

amount of information in terms of insurance product? Is it easy to

understand and structured at the right level?

4. What specific customer information are we looking to gather? Which one is

really needed? Is there a way to get the same information in a different way?

How about compliance with Data Privacy laws and other customer

protection regulations?

1

2

3

4

Key design questions (2/2)

20

1. How are the leads going to be passed to the salesforce?

2. What happens then? What type of follow up is expected? By when?

3. Are there clearly defined processes on how leads should be managed? What

are the tools to track and support them? Does the salesforce use them?

4. What are the training needs of the salesforce with regards to contact and

maximization of conversion?

5. Are incentives aligned? How can we make sure ROPO is creating value for

both us and the salesforce?

6. What are the overall expected results in terms of conversion? Are we

achieving them? Why? Why not?

5

6

7

8

9

10

Agenda

21

About us


What is ROPO?


Case study

Case study 1: Allianz One

Overview

22

Allianz was the first insurer to apply ROPO in Italy with the Allianz1 product

• Launched in 2014, with

the slogan «Subscribe to

happiness»

• Configurable non Motor

product, with monthly

payments

• Client can configure

product online, but

cannot buy online

• >250.000 policies sold

• Same model for SME

with up to 5 employees

(launched in 2015)


Product configurator

23

• Configuration

starts with limited

infos: date of

birth, profession

and location

• “Add in” system

for covers for

Home, Personal

and Mobility

protection

• Can see and

customize them

• Can visualize the

ones included and

the price


Quote save and selection of agents for handover

24

• Price is quoted and paid

monthly, as per the “value

proposition” of the

product

• Can save quote and add

email address to receive

quote

• Can find and select the

most convenient agent

• Each quote is attributed a

unique number, so it can

be retrieved by any

member of the salesforce

Thank you!

Carlo Palmieri

Managing Director and

Founder

CP Consulting Solutions

[email protected]

CP Consulting ROPO in practice: experiences and case studies

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