AlfaStrakhovanie LLC is one of Russia's largest insurance companies, and they need a way to measure all the complexities of an insurance business in an online platform. For example, insurance companies can only count profit after a policy expires, not when it is purchased, as accident claims and customer payouts need to be taken into account.
The company partnered with Agima, a Google Analytics Certified Partner, to find the best solution for a comprehensive online acquisition and retention measurement. Using Custom Dimensions and advanced Enhanced Ecommerce, AlfaStrakhovanie was able to have a better understanding of the purchase funnel per customer segment.
"AGIMA Interactive Agency is our long-term partner, helping us grow our profit on the internet and avoid the online pitfalls of the insurance business. It combines quantitative with qualitative research methods, so all our decisions now are data-driven and fully conscious. We have a strong confirmation of success and profit growth, and this allows us to continue our collaborative work." Tatyana Puchkova, VP of Marketing, AlfaStrakhovanie
As a result of the new implementation and ongoing data analysis, the company’s transaction rate has more than doubled, and revenue trends are on the rise while average order size remains untouched. The company now understands which customers and car owners it reaches with its marketing and (with the help of competitive price analysis) how the price affects transaction rates. The company is aware of the loss of potential profit because it knows the demand and can adjust prices accordingly.
To learn more read the full case study
Posted by Daniel Waisberg, Analytics Advocate