Case Study: a Fortune 100 financial services provider reduces portal drop-offs and boosts enrollments with Mu Sigma

Exploring interrelated problems for a Fortune 100 financial services organization

The vendor Mu Sigma was approached by a Fortune 100 financial services provider, a leading organization in retirement services for the academic, medical, and research fields. The client faced a critical challenge: a 45% participant drop-off rate on its online pension enrollment portal, which was causing a significant negative customer experience and a 22% revenue loss for that business.

Using its proprietary muPDNA software, Mu Sigma analyzed the enrollment process to identify primary drivers of the drop-offs. The vendor redesigned the entire process, and its recommendations reduced the online portal drop-off rate from 45% to 20%. This significantly enhanced customer experience and satisfaction, leading to 12,000 new enrollments and generating $3.6 million in additional revenue for the client in the first year.