Case Study: a major retailer achieves a 157% increase in renewal response with Assurant data modeling and digital testing

How Assurant’s Data Modeling and Testing Increased Renewal Response by 157% for a Major Retailer

The customer, a major retail chain, faced a challenge with its maturing renewal book, as the customer response rate had plateaued at around 2%. Assurant was enlisted to address this issue and improve performance.

Assurant implemented a solution using data analytics and digital testing. They built data models to analyze consumer activity and identify high-value customers. They then tested various solicitation elements, including pricing and creative offers, to optimize the campaign. This approach by Assurant yielded a 157% increase in the renewal response rate over two years, jumping from 2.07% to 5.25%, and generated a 50% increase in revenue per lead.