Case Study: IAG (Insurance Australia Group) accelerates product innovation and validates new insurance propositions with PENSO

IAG - Customer Case Study

IAG (Insurance Australia Group Limited), a general insurer underwriting more than $11 billion in premium and employing over 15,000 people across Australia, New Zealand and Asia, faced a strategic threat: with the move toward driverless cars, motor insurance (which represents over 70% of IAG’s revenues) could decline dramatically. To explore new revenue models IAG created IAG Labs and engaged PENSO to help test disruptive product propositions through the IAG Insurelite Proposition Test.

PENSO partnered with IAG Labs to develop distinct proposition identities, creative campaigns and e‑commerce sites, and implemented a direct-response framework and marketing attribution program to test product feasibility, audiences, channels and messaging while continuously optimizing spend. The work has taken four test propositions to market; two of those have performed so well that PENSO’s propositions are being onboarded by two of IAG’s largest consumer insurance brands.

IAG