Bangalore, Aug. 17, 2017
Coverfox, a global top 50 Insurtech company has disrupted the Indian insurance ecosystem with its comparison website where users can compare, buy and manage insurance policies. Coverfox has been working with Lemnisk to pioneer and execute ‘quote level personalization’ across online marketing channels to effectively engage with users who drop off from the website after taking an insurance quote.
“Lemnisk’s ability to offer 1:1 personalization at the intersection of ad tech and martech channels makes them unique. After seeing great and sustained results on programmatic display where we managed to drive down COA by 75%, we are now extending the solution to other channels as well,” stated Siddesh Karkar, Head Online Marketing at Coverfox.
When a user drops off from the Coverfox website after taking a quote, Lemnisk’s marketing platform captures quote level variables such as automobile model, registration number, premium amount, etc. These granular data points are then used to serve personalized ads to deliver a much sharper and relevant experience to users and bring them back to the website.
“We have consistently improved both scale and acquisition costs on Lemnisk’s platform. Most importantly, we have been able to jointly push the marketing innovation envelope further with the help of channels such as Browser Push, a decisive factor for us as we look to disrupt the online insurance space,” said Jaimit Doshi, Chief Sales & Marketing Officer at Coverfox.
While the focus has been on Programmatic Display and Facebook channels over the past year, Coverfox has recently launched Browser Push Notification as well – a new marketing channel on the web browser similar to a mobile push notification.
“Coverfox and Lemnisk share a common passion for innovation – and the partnership has pushed us to create cutting-edge personalization capabilities. As we expand the relationship to channels beyond programmatic, we hope to help Coverfox drive channel a consistent and synchronized conversation with users across all these channels,” said Subra Krishnan, SVP Products at Lemnisk.
Coverfox.com is India’s fastest growing online insurance portal where you can compare, buy and manage your insurance policies. Using its proprietary technology and algorithm-based platform, users can compare and choose from a range of plans across top insurance companies, understand key features and buy policies instantly and safely. Coverfox currently offers health, car, bike, travel and home insurance policies.
Coverfox is run by Glitterbug Technologies, a tech company which has received Series A & B funding from global funds such as SAIF partners, Accel and Narayan Murthy’s Catamaran Ventures.
Lemnisk is a Growth Marketing technology company that drives user retention and incremental conversions for finance, travel and e-commerce brands. Lemnisk, the Growth Marketing Platform leverages machine learning capabilities to generate user level predictions and 1:1 messaging. Lemnisk supports various brands including Citibank, eBay, Prudential, Jet Airways and Etihad Airways, in more than 40 countries.
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For more information, please visit https://www.lemnisk.co.
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