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    Ebenchmarkers Online Car Insurance Case Study

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    Ebenchmarkers Online Car Insurance Case Study

    Uploaded by

    MOVIES SHOP
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    eBenchmarkers online car insurance case study

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    140 views4 pages

    Ebenchmarkers Online Car Insurance Case Study

    Uploaded by

    MOVIES SHOP

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    © All Rights Reserved
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    Online Car Insurance

    Path to Purchase Efficiency

    Interview Case Study

    Company confidential
    The confidentiality of this document is contractually protected
    and it may not be cited, published, reproduced or distributed
    outside of the participating organisation.
    ©eBenchmarkers Ltd.
    Case study introduction

    • Our results are frequently displayed in tables, showing actual participant ‘scores’ against each key performance
    indicator and their ranking against the rest of the peer group. Each KPI is ranked independently, so that a
    participant could rank 1st for the first KPI, 9th for the second and so on.

    • Please consider the table overleaf, which shows the outcomes of customer visits to thirteen insurers for a
    particular month, your client’s results are highlighted in blue. We would like you to consider and present to us:
    – What is the overall message for your client?
    – What are the key issues for them to consider?
    – Which stage of the process is weakest and strongest for them?
    – How would you advise them to improve their performance?

    How to read the performance tables: Your Rank

    example table 1 2 3 4 5 6 7 8 9 10

    key performance indicator one


    KPI 1,183 1,045 891 864 812 756 724 642 512 206
    (period, units)

    Your Result is
    highlighted in blue

    Online Insurance Case Study | Company Confidential | © eBenchmarkers Ltd. 2


    Online car insurance
    Interview case study

    Path to purchase efficiency 1 2 3 4 5 6 7 8 9 10 11 12 13

    visits that started an online quote


    333 332 283 235 177 120 104 99 88 59 50 41 1
    (000s)

    % of quotes started which received a "quick" quote 92% 76% 63% 60% 59% 56% - - - - - - -

    % of quotes started which received a full quote 83% 82% 80% 80% 64% 52% 50% 49% 47% 22% 18% 13% -

    % of full quotes that initiated the buying process 47% 39% 24% 21% 19% 19% 12% 9% 9% 6% 4% - -

    % of buying processes initiated which were completed online 64% 63% 32% 29% 28% 27% 25% 25% 16% 10% 5% - -

    total online originated sales


    18.3 12.1 7.9 7.8 4.7 4.3 4.0 3.8 3.0 2.3 2.0 0.9 0.04
    (000s)

    of which were completed wholly online 100% 100% 95% 90% 81% 54% 47% 46% 44% 33% 27% 27% 26%

    start quote to full quote conversion


    83.3% 82.4% 80.2% 79.6% 64.3% 52.3% 49.6% 49.4% 47.0% 22.2% 18.3% 13.1% -
    ( % of quotes started that received a full quote)
    full quote to sale conversion
    20.1% 13.1% 12.8% 9.9% 9.5% 7.1% 6.8% 6.2% 5.4% 5.2% 4.8% 2.7% -
    (% of full quotes converted to sale)

    overall path to purchase efficiency


    7.9% 5.5% 4.9% 4.5% 4.3% 4.0% 4.0% 3.7% 2.5% 2.4% 2.3% 2.1% 1.7%
    (online originated sales as % of quotes started)

    • Considerations
    – All participants offer both a telephone and online sales channel
    – “Online originated sales” commence online and complete EITHER on the ‘phone or online
    – A “quick quote” is an initial quotation given on little customer data which will change as further data is input by the customer
    – The 6 “quick quoters” ranked between 7th and 12th for “start quote to full quote conversion”
    – “Start quote to full quote conversion” measures the % of customers who complete the quotation process and see a purchasable price

    Online Insurance Case Study | Company Confidential | © eBenchmarkers Ltd. 3


    eBenchmarkers Ltd. is part of the Financial Intelligence Division
    of Informa PLC registered in England & Wales with number
    8860726, registered office and head office 5 Howick Place,
    London, SW1P 1WG, UK

    ©eBenchmarkers Ltd.

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