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How Edelweiss Tokio Life uses personalisation to build a truly multi-channel business

The Insurance sector in India consists of a total of 57 insurance companies. Out of which 24 companies are the life insurance providers, and the remaining 33 are non-life insurers. Edelweiss Tokio Life is a new generation life insurer with a presence in 93 cities through its 121 branches.

Established in 2011, Edelweiss Tokio Life is a joint venture between Edelweiss Financial Services, a diversified financial services company, and Tokio Marine Holdings, a global insurance giant.

Customer loyalty is undoubtedly crucial for Edelweiss Tokio Life to building sustainable long-term growth. In a mere span of 8 years, they have achieved a persistency ratio of 88.9% and their endeavor is to scale it up even further by this financial year.
The team at Edelweiss Tokio Life proactively finds ways to make their customer’s journey interactive and simple at every touchpoint.

With a strong focus on customer centricity, the insurer is known for its award-winning and innovative products and services. Its strong lineage equips them with the expertise to address the customers’ needs. Headquartered in Mumbai, the insurer serves over 2 lakh customers (as of March 2019) through its multi-channel business.


  • 35 Dispositions nurtured

  • 47% Conversion uplift

  • 10 Lead nurturing journeys

The Objective

Customer loyalty is undoubtedly crucial for Edelweiss Tokio Life to building sustainable long-term growth. In a mere span of 8 years, they have achieved a persistency ratio of 88.9% and their endeavor is to scale it up even further by this financial year.

To achieve such success, Edelweiss Tokio Life focuses not just on sales – but also on acquiring quality customers and giving them the right experience throughout their journey.

Shown below is the basic journey every new customer follows at Edelweiss Tokio Life.

Attract (New lead) → Interact → Qualify → Nurture → Close → Feedback

The team at Edelweiss Tokio Life proactively finds ways to make their customer’s journey interactive and simple at every touchpoint.

Out of all the stages mentioned above, lead nurturing plays a pivotal role in creating a seamless customer experience.

Lead Nurturing

To put it simply, lead nurturing for insurance companies means devoting time to build meaningful relationships with each prospect. However, building relationships and fostering loyalty is tough for companies, especially if you have thousands of customers. This is where the marketers or businesses as a whole need to move about carefully.

The Challenge with Lead Nurturing

Edelweiss Tokio Life faced the following challenges to set-up a lead nurturing process, which was as interactive and meaningful as the rest of the customer’s journey:

  • Communicating successfully with the customer in the digital age, primarily via mobile

  • Leveraging customer data and insights to map complete customer lifecycle

  • Qualifying and segmenting prospects to nurture them with content specific to their needs, and;

  • Keeping costs down while increasing efficiencies throughout their customer lifecycle

The Solution

To successfully nurture each lead, WebEngage equipped Edelweiss Tokio Life with the right technology support at every step of their lead nurturing process.

1. Customer requests for online support via various touchpoints ➜ Basis which Edelweiss Tokio’s Life’s Customer Relation Management (CRM) or precisely their Lead Management System (LMS), assigns a disposition status to the customer

In the Banking, Financial Services, and Insurance (BFSI) industry, this step is denoted as ‘customer disposition’ and varies from customer-to-customer.

At Edelweiss Tokio Life, there are close to 30-35 dispositions, based on the initial interactions with the customer.

2. Based on their disposition status, the customer enters an appropriate segment on WebEngage

WebEngage groups the dispositions under 10 broader segments. Some of these segments include:

  • Non-contactable: Customers who are now unreachable due to some reason

  • Follow-up: Customers with whom further discussions are required

  • Call-back: Customers are interested but want more details at a suitable time and so on

  • Nurtured: The customer is on board and knows enough about the brand to make an informed choice

3. Each segment refers to a unique journey on WebEngage

To accurately follow up with its vast database, the team at Edelweiss Tokio Life creates journeys for each user segment. Different scenarios are then visually mapped, and real-time communication is triggered using WebEngage’s Journey Designer.

These user journeys form a crucial part of the lead nurturing strategy.

Zooming Into Edelweiss Tokio Life’s Lead Nurturing Journeys

Edelweiss Tokio Life’s drip marketing campaign for lead nurturing is spread over a total of 90 days from the first interaction. The tool further divides the drips into 3 phases depending on the maturity and interaction level of the user.

To help you understand these journeys better, we have highlighted some of the vital features below:

1. Segmentation

💡In theory, segmentation is the process of breaking down your user base or market into small groups. The tool does this to better understand them and create specific marketing strategies to engage with them and drive conversions. There are several ways in which marketers can segment their user base, location, purchase history, lifecycle stage, etc.

The tool segments the pool of customers into smaller groups, based on their disposition status. Each segment has a unique journey to ensure each lead is covered and nurtured appropriately from the beginning. Additionally, Edelweiss Tokio Life puts adequate segment checks throughout the lead nurturing journey.

These regular checks guarantee:

  • That each journey remains valid for a particular segment only

  • The workflow guides every customer along a unique path, based on their actions and reactions to messaging and events.

  • Each customer receives contextual communication. Eg, product knowledge for recently acquired customers or testimonials for those who are contemplating a purchase.

2. API Blocks

💡API blocks in journeys allow you to transfer real-time information, from WebEngage to your third-party systems (advertising, data-warehousing, live-chats, etc.) or your internal database.

An API is triggered if a customer clicks on the ‘Call back’ CTA mentioned in emails. The API further relays this information to the concerned teams at Edelweiss Tokio Life so that necessary actions can be taken. This action becomes the ‘conversion event’ for the campaign and helps in tracking its performance.

3. Exit Triggers for Journey Mapping

💡The primary goal of most marketing campaigns is to evoke a desired action from the users – ranging from getting users to read your new blog, avail special offers to watch a video, etc. Once the user accomplishes the goal, journey exit triggers can easily manage the user’s exit from the current journey. This ensures the tool engages your users with campaigns that match their present actions.

The moment a customer clicks on an email, the ‘user attribute’ on WebEngage gets updated (e.g., a change from ‘Not interested’ to ‘Interested’) and the customer enters another journey. The new journey’s communication strategy then nurtures the customers.

This journey mapping using exit triggers ensures:

  • No redundant communication goes to customers

  • Automated messaging nurtures customers as per their current disposition status

  • Emails are hyper-personalized by leveraging real-time user data and behavioral data in the most optimal way.

💡Hyper-personalization: Real-time communication and hyper-personalization lay the foundation for delivering one-on-one messages to users. The way you track your user’s actions and preferences in your app and website plays a crucial role. It fuels your personalization strategy – from personalizing a campaign’s message, images, links, and email attachments to using REST APIs to request data from your servers.

4. Campaign Performance Indicators

💡As users interact with the drip campaign, each interaction is tracked as a campaign event or a performance indicator. This helps you to analyze the campaign’s impact on user engagement, conversions, and revenue.

Data-driven messaging is one of the most scientific ways to deliver contextual experiences tailored to each user. Using the campaign performance indicators on the ‘Campaign Comparison’ screen, Edelweiss Tokio Life tracks data for all the communication in one clean view.

Splitting campaign performance by campaign events – clicks, conversions, revenue, etc. shows which campaign is providing the maximum impact. Shown above is a sample overview (we’ve changed the exact numbers).

These indicators help:

  • Identify bottlenecks and key conversion steps

  • See which campaign is giving the maximum impact

  • Optimize user journeys further

The Results

Edelweiss Tokio Life used a personalized approach to lead nurturing, creating unique customer experiences and tailored content using WebEngage’s Journey Designer. The result was a massive uplift in conversions and customer loyalty.

Their email opens were as high as 20-30%, which is notable in the BFSI industry. With timely and contextual messages, Edelweiss Tokio Life registered an increase of around 10% in the call-backs made. The uplift in conversions (closures) ranged from 10-50%, across various disposition statuses.

What worked for Edelweiss Tokio Life:

The six things that improved Edelweiss Tokio Life’s email marketing campaigns and lead generation rates include:

  • Personalizing email campaigns where users didn’t have to re-enter their details for a call-back.

  • Understanding target audiences, their needs, and key motivation drivers to draft appealing content.

  • Experimenting with email send times and their frequency made a significant impact on their open and click-through rates (CTR).

  • Optimizing their content for all devices. Be it mobile, tablet, or desktop.

  • Tracking campaign performance regularly helped them make iterations at the correct places immediately for a more significant impact.

  • Integrating all this smoothly with their LMS or CRM to help the team identify the best sales opportunities.

Providing a world-class experience to the customers is a top priority for marketers today. As old as it might have become, email marketing still stands tall and strong for marketers globally.

Robust integration with WebEngage helped Edelweiss Tokio Life send out more than thousands of emails each day to their massive user base, resulting in impressive click-throughs and conversions.

On the other side, WebEngage is working relentlessly to give its clients access to a powerful email solution that specializes in deliverability, accuracy, and efficiency. With a recent product launch, WebEngage now offers in-house comprehensive email deliverability and mapping service. It makes using email marketing as a vital tool in your marketing communications and strategy easier. Explore WebEngage all the more right away!

WebEngage allows us to dive into the personal approach of lead nurturing, creating unique experiences and tailored recommendations for our customers. The seamless integration with our LMS helps us serve our users at scale. Widespread use of the Journey Designer has led to a conversion uplift of up to 47%. Our account manager and the team are always on hand to help with any possible query we might have!

Pranav Dabke, Campaign Manager - Digital Marketing, Edelweiss Tokio Life

Note: Content credit WebEngage.


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