Case Study
How Jerry.ai Improved Their Conversion Rate by 15%
The Jerry.ai Story
Jerry.ai is a technology-driven insurance broker that attempts to automate this process. After acquiring new users who fill out a short registration form, the system pulls up their insurance information. Using the information provided during the web registration, the company looks through 45 insurance providers — including six of the top 10 insurers in the country — to find the lowest quotes with the right coverage for their users. Users can view quotes and purchase insurance through the Jerry.ai mobile app. The app also provides users with a digital proof-of-insurance card.
Challenges
Establishing event based communication
Personalizing automated communication
Retargeting with follow-ups and reminders
There are four main stages of the funnel that are extremely important to them:
- Stage 1: Acquisition – Getting the user to the website
- Stage 2: Onboarding/Activation – SMS prompting them to download the app
- Stage 3: Engagement – Getting users to complete a transaction and buy an insurance product
- Stage 4: Retention – Minimizing app uninstalls and churn
The funnel starts with the web app registration and ends with the mobile application. It takes about 60 to 90 seconds from onboarding to receiving the first quote. However, users don’t always download the mobile app immediately after the web sign up.
Solution
To enable a frictionless solution to all of the above, the team conducted an in-depth diagnosis of each user profile and then used Journeys to deploy personalized omnichannel campaigns for user engagement.
After creating Journeys for different user segments, the company has already seen improved conversion rates from user registration to purchasing a policy. Additionally, automated campaigns resulted in a savings of around $15,000 on operational costs per month.
Events
CleverTap’s ability to create custom events allows the team to capture events that are unique to their business. With this data, they create triggered campaigns to guide and nudge users each time they perform a specific action or get stuck at some point in the process.
Inaction Campaigns
The team can now create custom messages based on certain actions a user did not take. For example, a user may have seen the quotes from insurance providers, but not yet chosen to buy. In this case, they’d engage with them further by following up on the quotes to increase the possibility of conversion.
Audience Analytics
Features like real-time analytics, segmentation, Funnels, and Flows are a combination of CleverTap features that help GetJerry understand how users navigate their app and give them a deep understanding of all user attributes.
What’s next?
The pipeline for the Jerry.ai team includes adding a lot more categories besides home and rental insurance. Plus, they plan to put triggered renewals in place while continuing to support the existing insurances. They look forward to collaborating with CleverTap further for upcoming cross-sell and up-sell opportunities.