1. ELECTRONIC BUSINESS
CASE: INSURANCE E-COMMERCE
Prepared By-
Aakansha Singh (20165001)
Aayushi Shah (20165002)
Akshay Gaikwad (20165003)
Ann Augustine (20165004)
Aquesha Tirmizi (20165005)
2. Online-insurance seller
Turtlemint has raised an undisclosed amount in a
funding round led by Nexus Venture Partners and
Blume Ventures
Other players
Policy bazaar
Cover Fox
Mintwise , etc
3. • How should they go about
building a sound strategy?
• What are the various tactics they
should employ to execute the
strategy?
4. Increase the customer base
Better customer experience
Increase Awareness through online and offline channels
(Brand Development)
Develop mobile app
Increase tie ups with insurance brands in market
Differentiate from competitors
5. • What should be the KPIs to
measure the progress against
each tactic ?
• Provide ideas on improving the
customer experience on the
website ?
6. Higher customer retention rate & more
conversion of visitor to customer
Increased footfall of customers on website
Downloads for the app
Increased market share
Tie-ups with more insurance brands
7. • Better SEO optimization
• Use of key words (generate Google juice)
• Appearance
• Make it more lively use of small pictures , updated
colour scheme, effects on site
• Highlight customer specific content
• Questions to improve visitors curiosity “why do you need
this plan”
• Design
• Side slide preview instead of scrolling down
• Avoid repetition of content (blog, review , video )/ alter
positions
• Addition of drag down bars
• Additions
• Chat box/ query box
• Graphics
• Customised
• Know your visitors
• Feedback
8. • What are the various online or
offline marketing campaigns they
can launch?
• How can they retarget their
audience and through which
channels?
9. Online Marketing
Campaigns
1. SEO campaigns
2. # GoPaperless
3. Facebook Ads
4. Referral Marketing
Campaign
5. Photo Campaigns
6. Compete Campaign
7. Customer Marketing
Campaign
Offline Marketing
Campaigns
1. Community Events
2. Door-to-door
Relationship Building
3. Field Marketing
Campaign (Road Show
Campaign)
4. Mobile billboard
5. Participating in trade
shows
10. Retargeting can be done by:
Online Advertising
Referrals
Add On Services
Channels used for retargeting can be both
online as well as offline like,
Facebook Newsfeed
Directly take Follow up with clients
SMS
Telephone
E-mail
11. • How can they differentiate
themselves from other
competitors?
• How can they play a larger role in
increasing the size of the
insurance industry?
12. Website Visitors may be
more likely to buy if they
know a live person can be
contacted.
Not to ignore facebook and
twitter as a platform to
showcase your services and
promoting via campaigns.
More focus should be on
Video content as it can
ignite emotions. It is the
best way to encourage social
shares
FACEBOOK
TWITTER
FACEBOOK
TWITTER
13. Make customer centricity a strategic priority and
invest substantially in digital technology.
Through advanced analytics, insurance companies
can obtain a 360-degree view of client behavior to
anticipate their needs and offer the right products
with the right price, at the right time.
Collaborate with IRDAI for Insurance awareness
campaigns.
Investing in distribution network technology is
fundamental to success.
14. • What should they do to improve
the conversion rates on their
website?
• Take certain assumptions to build
a mini P&L and do sensitivity
analysis
15. Focus on your call to action.
Experiment with Layout, Content, Style and
Functionality on Landing Pages
Test the right visitors
Include as few fields as possible
Clearly state the benefits of your product or
service
Include a clear value proposition
Include consumer reviews.
16. Particulars Amount (in Millions)
Operating Revenue 725
Other Income 83
Total 808
Expense
Employee Expense 320
Depreciation 21
Advertising & Promotion 133
Administration & other expense 91
Network & Internet 23
Total 615
Profit before Tax 193
Tax (40%) 77
Profit 116
17. Particulars Pessimistic Normal Optimistic
Revenue 580 725 870
Other Income 83 83 83
Expense 615 615 615
Profit before Tax 48 193 338
Tax (40%) 19 77 135
Profit 29 116 203
75% - 75%
18. • Which customer segments
should they target and what
should be the communication for
each?
19. 2
Wheeler
• Age 18 -
40
4
Wheeler
• Age 25 -
65
Health
• Age 0 -
80
Term
Life
• Age 0 -
40
