New Delhi/Bangalore, March 21, 2018: Max Bupa Health Insurance has for the first time introduced personalized experiences for its customers across multiple marketing channels using an artificial intelligence based prediction algorithm ‘Ramanujan’ devised by Lemnisk.
Lemnisk’s Ramanujan is a set of algorithms that helps brands infuse artificial intelligence into customer segmentation and customer journey and helps in automating channel orchestration. For example, if a customer has historically responded to Facebook and not emails, then the algorithm assigns a higher score for Facebook and probably a zero for ‘email’, for that particular customer. This means the brand can now target this customer only on social channels/ mobile platforms which he is likely to respond better, and not on traditional means like email marketing.
A typical customer today is tech-savvy and engages with brands on multiple touch points. With Ramanujan, Max Bupa can now predict the channels on which its customers are most likely to respond and target them only on those channels. This is done for millions of users in real time across multiple online channels by the predictive algorithm. This is helping the brand significantly enhance customer experience and also drive up campaign ROI with better optimization of media spends.
New age health insurers like Max Bupa are adopting unconventional and new approaches such as channel orchestration where a unique channel journey for each user ensures enhanced experience, improved engagement and better ROI.
Anika Agarwal, SVP – Marketing and Head Digital Sales, Max Bupa, said, “To take our brand experience a notch higher, we have adopted Lemnisk’s Ramanujan platform, which offers personalization and enhanced customer experience through effective use of artificial intelligence, which in turn helps us reach out to them on their most preferred channels. For customers, a relevant and consistent experience is delivered on channels they prefer and they are not bombarded with ads wherever they go which can trigger brand fatigue. We have seen an extremely encouraging response from potential consumers, with 85% lift in click-through rates, and 23% lift in conversions further down the funnel. The platform has enhanced our customer experience significantly, resulting in higher ROI and engagement across channels."
“Unlike a traditional journey workflow that takes a segment level approach, each and every Max Bupa customer experiences a journey that is uniquely crafted by Ramanujan’s proprietary algorithm. We have just scratched the surface of what is a disruptive opportunity. As we seamlessly ply the ad tech and mar tech worlds, we see massive efficiencies that we can create by prioritizing free and owned marketing channels over paid adtech channels. We are currently live on one segment while efforts are already in place to take all customer segments live with orchestration.” said Subra Krishnan, CEO, Lemnisk.
Orchestration is currently live on three channels at Max Bupa – Website, Display and Push notifications, with plans to add Email and SMS into the mix, to drive results further up.
About Max Bupa Health Insurance
Max Bupa, a 51:49 joint venture, brings together a combination of Bupa’s health insurance and customer service expertise with Max India’s understanding and experience of the Indian health and insurance sectors. Max Bupa offers quality health insurance services through a dedicated team of over 1900 people and its network of 29 offices across 19 cities - Delhi, Mumbai, Hyderabad, Chennai, Bangalore, Pune, Ludhiana, Chandigarh, Jaipur, Surat, Kochi, Kolkata, Patna, Goa, Gurugram, Lucknow, Vadodara, Thane and Jodhpur. Max Bupa offers individual and family oriented health insurance policies for Indians across all age groups. Max Bupa has a direct working relationship with a network of over 4000 top quality hospitals and healthcare. Over the last 8 years, Max Bupa has introduced many innovative offerings that cater to the evolving health needs of various customer segments. For more details about the company and a list of all our network hospitals please visit www.maxbupa.com.
Lemnisk is an Intelligent and Secure Customer Data Platform built for Banking, Insurance and financial Services marketers. Marketers leverage Lemnisk to maximize customer engagements and conversions across channels.
The key capabilities include:
- Customer Data Platform that uniquely resolves users across different data sources and channels.
- Custom data models and algorithms created for Banking, Insurance and other Financial Services.
- Intelligent orchestration of each customer’s journey based on one’s propensity towards a marketing channel and delivers higher engagement.
- Hyper-Personalization that creates a unique real-time marketing message and experience for each user across multiple marketing touch-points.
Lemnisk works with some of the largest global brands including Prudential, HDFC Bank, Axis Bank, Royal Group, CIMB Bank, Etihad Airways, Jet Airways, MetLife, Bupa, and Emirates NBD Bank. Founded in 2008, Lemnisk has offices in San Francisco, Jakarta, Dubai, Bangalore, and Singapore. Lemnisk is ISO 27001 & ISO 27018 certified.
Find out more at www.lemnisk.co.
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