Insuritas provided an update on Lily, its virtual digital insurance assistant that the company has spent the past year developing and embedding across its communication channels.
Insuritas’ digital assistant loops in complex algorithms and artificial intelligence to support the customer in the communication channel of their preference.
Whether it’s marketing emails, live chat, over the phone, or getting an online quote, Lily serves to establish a consistent customer experience for comparing and purchasing insurance.
Lily is finely tuned to “check in” on customers when they are most likely to be in-market for insurance by incorporating predictive analytics and first-party customer data such as upcoming expiration dates on insurance policies, loan approval information, and high purchase intent qualifiers.
“We’ve seen a significant change in customer preferences in the way consumers today educate themselves on their insurance options and how they prefer to shop for insurance coverage. Lily is able to provide customers with a consistent, accessible, and valuable experience, which customers have begun to expect from companies as technology advances. Our financial institution clients get over 45 million unique online visitors a month, and Lily is helping these visitors to shop, compare and buy the insurance they need from a partner they trust. It was critical for us to establish Lily as a single point of contact for our clients’ customers when it comes to answering top-of-funnel educational questions on insurance, automatically checking insurance rates, and even purchasing coverage online.” – Donna Jermer, EVP and Chief Marketing Officer at Insuritas.
Insuritas has rapidly embedded Lily into critical customer touchpoints over the past 9 months, sending out 20.2MM awareness and 1.2MM follow-up emails, 2,500+ live chat interactions, 1,500+ outbound phone check-ins, and providing customers with over 44,000 insurance quotes online.
The subsequent rollout of Lily has had a direct positive impact on partner agency customer conversion. In an August 2022 analysis of key partners, Insuritas found that through the adoption of Lily within various marketing campaigns and programs, engaged partners demonstrated a noticeable increase in agency awareness, customer outreach, response, and a marked improvement in quote penetration to their customers.
According to the press release, partners experienced up to a 144% increase in policy growth when compared to the same time period year-over-year.