Increasing Online Sales

Planning –

•      It’s to be expected that the biggest drop-off in a quote flow would be on the page that displays the price. It’s the payoff at the end that finally shows you how much you would pay so that you can compare it to your current insurance or other quotes you have in hand. But we wanted to see if there was a way to reduce the number of drop-offs on that page.

•      We first reviewed our data. What were customers doing on the page? Did they leave immediately or did they manipulate the coverage? Did they come back and if so, how often? After reviewing the data we were left with a few questions. Most importantly we wanted to know why customers were leaving.

Execution – We implemented a follow-up survey that went to our users who left our online quoting flow. Among other things, we asked them how their experience was and why they didn’t choose Clearcover as their insurance provider. We used that data to initiate interviews with auto insurance customers and had them go through our experience and get their feedback.

Results –

•      Our survey showed that many people felt like our prices were too high. They were under the impression that we were as much or more than our competitors. Our market research told us that we were often cheaper than our competitors so we had to better understand the discrepancy.

•      Our interviews provided us the same feedback, but it was in those conversations that we started hearing comments about coverage amounts. They were saying the coverage was way higher than they had. So when the users were comparing the costs ours were showing higher costs, but with more coverage. Comparing different costs and coverage are a difficult thing for most consumers to compare so they saw the higher price and left for someone else.

Outcome –

• We partnered with our data team to lower the default coverage to something that is more comparable to what most people have. This allows for more of an apples-to-apples initial comparison. This led to an increase in conversion rates almost instantly.

• New Bundling Options