Improving Performance in Insurance Markets
Yukon Insurance Agency serves the personal and business insurance needs of its clients in the surrounding communities of Yukon, OK. The organization’s leadership represents 65 years of combined experience. According to President, Henry Israel Jr., “Our years of experience means that we’ve seen everything. Experience is important, but our success is a result of our consistent efforts to be innovative and seek knowledge that will better protect our clients’ interests.”
The insurance and financial services industry is highly competitive, with more than 500,000 independent representatives in the U.S., alone. Combined with the challenges in the current economic climate, the pressures are greater than ever to reach customers, provide personal attention and to find new ways of saving money for clients.
Yukon Insurance Agency, engaged the Small Business Practice within BraveMatters to provide expert evaluation about their current marketing efforts and to develop a cost-effective limited-engagement to better protect and expand Yukon Insurance Agency’s customer base.
BraveMatters developed a strategic program and leveraged its mobile messaging and social media platform address specific challenges in the sales cycle where customers miss paying their premiums, and in some cases, lose their coverage. BraveMatters also identified that by modifying behavior around paying premiums, customers purchased more frequently on an annual basis and fewer customers were lost. The results make significant difference in cashflow and annual profitability, not to mention overall customer satisfaction.
Yukon Insurance Agency sends monthly payment reminders, birthday messages and other relevant messages via SMS and BraveMatters mobile broadcast platform. Yukon Insurance Agency utilizes the self-service application to easily manage communications with internal resources.
Henry’s clients are receiving, and reading their messages and Yukon Insurance reaps the benefits. “The results have been amazing” said Henry. “My clients appreciate the reminders and they are paying their premiums on time. I have also begun cross selling more products through mobile voting campaigns.”