Twice as safe:
the insurer with extra online protection.
Premium insurance with premium added value.
A large German insurer with a turnover of over 3 billion euros and a wide range of products from motor, liability and accident insurance to life insurance was looking for a way to successfully establish its premium legal protection insurance on the market in the long term. Mehrwerk developed the corresponding premium value-added service.
Challenges
- Enriching the core product to increase competitive differentiation
- Meeting customer needs for protecting their personal data online and for support in the event of identity theft
Strategy
- Implementation of a holistic cyber and identity protection solution
Measures
- Embedding the added value service in the premium legal protection insurance
- Setting up an ID helpline (24/7)
- Online monitor (public & dark web)
- Online cleaner
- mobile VPN (iOS & Android) – product extension as part of a tariff change 5 years after launch
- Communication via consultants in sales, own website and product brochures
Success
- sustainable establishment of a USP product offering
- significant additional income: forecast sales expectations were exceeded by 20% from the first year
Conclusion:
USP found, figures topped.
The premium legal expenses insurance was able to clearly differentiate itself from the competition with its data-based value-added service - and so successfully that the target figures were exceeded by more than a fifth.
Do you need a customized value-added insurance solution?
Talk to me.
Talk to Sören Timm:
He is Head of Sales at Mehrwerk, and that means as much as Head of ExactlyTheSolutionYouNeed.
All completely non-binding. But immediately solution-oriented.