Pension with benefits:
150,000 euros cashback per month.
From savings contract to “savings” contract.
For a traditional life and pension insurer from southern Germany with an annual turnover of around 300 million euros, Mehrwerk developed a data-based value-added concept that literally upgraded the classic savings contracts – with convincing cash-back links.
The challenge
- Product differentiation of a pension insurer’s offering
- Increase in product utilization
- Increase in the deposit in the savings contract
Strategy
- Combination of classic savings contracts with customer-relevant value-added services: Cashbacks on purchases and travel in favor of the insured person
Measures
- Online cashback with up to 25% at more than 1,200 online stores
- Travel cashback of 5% with more than 200 tour operators
- Communication via customer portal, mobile app, activity campaigns and newsletter
Success
- Over 15,000 active savings contracts
- Over €10 additional cashback per savings contract per month for active users
- Sales can draw on a unique product story
- Awarded various innovation prizes
Conclusion: Fifteen thousand times customer satisfaction.
The cashback value-added services enabled sustainable customer loyalty and a unique product offering that immediately gave the company a competitive edge over comparable insurance products.
Do you need a customized value-added insurance solution? Talk to me.
Sören Timm, Plant Manager Sales, is your
contact for the insurance business.
