Retention Case Study

Business Need/Challenge:   A large insurer wanted to reduce lapsation and improve the long term financial performance of its life and supplemental insurance portfolio.

Our Answer:  drias International implemented an enhanced retention plan to reach out to customers directly, should there be any missed payment.  By contacting customers through a daily outbound call centre initiative, we are able to retain an average of 87% of customers contacted.

The Result:  The results include a marked improvement in customer experience, reduced lapsation and significant long term financial improvements to the portfolio.  

• 19,917 annual policies saved 2014
• $3,346,653 total premium improvement 2014
• Significant gains to the long-term value of the portfolio