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MSIG Mingtai Insurance

300

MSIG Mingtai saw online subscription rates
rise to three times the industry average

200

Push notifications on self-owned platforms
nearly doubled (Q4 vs. Q3)

24

Average transaction value
rose 24% (Q4 vs. Q3)

The Comprehensive Automobile Usage-Based Insurance (UBI) is MSIG Mingtai Insurance latest technology insurance product, which it hopes to promote. The product has three major features: immediate assistance, responsibility determination, and speedy departure. Policyholders will receive a UBI dashboard camera. If an accident occurs, customers can simply press the “one-click claim” button on the dashcam in order to be connected with an agent immediately, who will assess the exterior vehicle damages via pictures and videos taken and uploaded remotely by the camera. This significantly increases payout efficiency on the spot while reducing the likelihood of disputes down the road.

Brand Story

Founded in 1961, Mingtai Property Insurance Co., Ltd. has been one of the pioneering companies in Taiwan’s insurance industry. In 2005, the company became a member of the Mitsui Sumitomo Insurance Group (MSIG), one of the top 10 insurance conglomerates in the world. In its six decades of operations, Mingtai has remained devoted to the Taiwanese market to ensure the safety and peace of mind of its customers in keeping with the group’s business philosophies and strategies. It aims to become the most considerate international property insurance company by offering a wide range of insurance products and services that reach every last corner of Taiwan. Today, MSIG Mingtai’s capital and premium revenues have reached NT$ 2.5 billion and NT$13.7 billion respectively. Indeed, the company has garnered widespread recognition for its financial stronghold and stable long-term operational performance.

Goals

MSIG Mingtai has won over customers’ trust with its professional services and constant optimization of service experience. In recent years, the company has been seeking to accelerate its foray into big data, artificial intelligence, digital marketing, and fintechs such as blockchain technologies as part of MSIG’s global digitalization strategy. The objectives are simple: to let customers feel the continued presence of the company through digital transformation and to stay at the forefront of Taiwan’s, or even Asia’s, fintech development and deployment. To this end, MSIG Mingtai is taking advantage of Appier’s advanced AI technologies to achieve precision marketing, targeting high-value customers and carrying out differentiated communications for finely delineated customer segments. Thanks to Appier, the company was able to get a clear grasp of potential customer profiles before the official launch of the Comprehensive Automobile Usage-Based Insurance (UBI) and to keep track of real-time customer feedback for timely strategic adjustments. Ultimately, it was able to create a customer-centered service experience while maintaining product competitiveness.

Challenges: Marketing a New Product—Comprehensive Automobile Usage-Based Insurance (UBI)

Challenges: Marketing a New Product—Comprehensive Automobile Usage-Based Insurance (UBI)

Establish Long-term Customer Engagement
Despite MSIG Mingtai’s commitment to boosting its digital competitiveness via online sales and speedy claims processing, the renewal period of insurance policies, which is usually billed annually, remains considerably longer than general commodities, making it difficult to build a stable, ongoing engagement relationship with clients.
Precision Marketing
In addition, the renewal period of insurance makes MSIG Mingtai face great challenges in getting a detailed picture of their profiles as well as recommending the right products to the right users, in actively pinpointing high-value users for precision marketing, and in maximizing its overall marketing effectiveness.
Establish Long-term Customer Engagement
Despite MSIG Mingtai’s commitment to boosting its digital competitiveness via online sales and speedy claims processing, the renewal period of insurance policies, which is usually billed annually, remains considerably longer than general commodities, making it difficult to build a stable, ongoing engagement relationship with clients.
Precision Marketing
In addition, the renewal period of insurance makes MSIG Mingtai face great challenges in getting a detailed picture of their profiles as well as recommending the right products to the right users, in actively pinpointing high-value users for precision marketing, and in maximizing its overall marketing effectiveness.
Appier’s Solutions
Automatized one-stop communications management:
◆ The AIQUA User Engagement Platform allows MSIG Mingtai to manage all its communications campaigns in one place. With multiple digital channels and a wide range of automatic tools, AIQUA can satisfy all communication needs at every stage of the customer journey.

◆ 360° perspective:
Appier’s AI engine can add value to existing data in MSIG Mingtai’s CRM database by tagging users with relevant interests and keywords, thus enabling the company to enable a 360 view of the customer and better identify audiences for targeting..

◆ Multidimensional user segmentation:
The AIXON Data Science Platform contains an AI module that is able to configure independent audience segments with zero overlap based on customers’ interest and keyword tags. This way, customized messages can be delivered to the desired target audience for higher conversions and less interruption.
Scenario 1
Targeting high-value customer segments for precision marketing on MSIG Mingtai’s official website:

◆ Automated tools can meet the needs across all stages of the customer journey, which can help realize the following goals: activation of new customers, continuous engagement, increased revenues, and customer loyalty.

◆ Thanks to the 360° perspective enabled by AIXON, MSIG Mingtai can pinpoint what topics might attract the attention of various customer segments based on their keyword and interest tags and deliver the most suitable product information, industry news, and cross-industry collaboration resources to the right audiences with AIQUA’s automated push notifications throughout the entire customer journey. For example: Users who enjoy sports and outdoor activities will be targeted for travel/mountain-climbing insurance.
Scenario 2
Gauging customers’ reactions to new product—Comprehensive Automobile Usage-Based Insurance (UBI):

◆ MSIG Mingtai was able to identify three distinct customer segments with AIXON’s multi-segmentation AI model and test each segment for its acceptance and preference of the new product with AIQUA’s automated push notifications in order to increase the click-through rates on its official website.

◆ Tests conducted in this manner can prevent fatiguing users with irrelevant information and can be adjusted in real time to tailor to different interest and keyword groups.

◆ Furthermore, marketers can strengthen their campaigns for high-conversion segments or loosen the restrictions for specific audiences so as to take advantage of the popularity of certain campaigns.
Appier’s Solutions
Automatized one-stop communications management:
◆ The AIQUA User Engagement Platform allows MSIG Mingtai to manage all its communications campaigns in one place. With multiple digital channels and a wide range of automatic tools, AIQUA can satisfy all communication needs at every stage of the customer journey.

◆ 360° perspective:
Appier’s AI engine can add value to existing data in MSIG Mingtai’s CRM database by tagging users with relevant interests and keywords, thus enabling the company to enable a 360 view of the customer and better identify audiences for targeting..

◆ Multidimensional user segmentation:
The AIXON Data Science Platform contains an AI module that is able to configure independent audience segments with zero overlap based on customers’ interest and keyword tags. This way, customized messages can be delivered to the desired target audience for higher conversions and less interruption.
Scenario 1
Targeting high-value customer segments for precision marketing on MSIG Mingtai’s official website:

◆ Automated tools can meet the needs across all stages of the customer journey, which can help realize the following goals: activation of new customers, continuous engagement, increased revenues, and customer loyalty.

◆ Thanks to the 360° perspective enabled by AIXON, MSIG Mingtai can pinpoint what topics might attract the attention of various customer segments based on their keyword and interest tags and deliver the most suitable product information, industry news, and cross-industry collaboration resources to the right audiences with AIQUA’s automated push notifications throughout the entire customer journey. For example: Users who enjoy sports and outdoor activities will be targeted for travel/mountain-climbing insurance.
Scenario 2
Gauging customers’ reactions to new product—Comprehensive Automobile Usage-Based Insurance (UBI):

◆ MSIG Mingtai was able to identify three distinct customer segments with AIXON’s multi-segmentation AI model and test each segment for its acceptance and preference of the new product with AIQUA’s automated push notifications in order to increase the click-through rates on its official website.

◆ Tests conducted in this manner can prevent fatiguing users with irrelevant information and can be adjusted in real time to tailor to different interest and keyword groups.

◆ Furthermore, marketers can strengthen their campaigns for high-conversion segments or loosen the restrictions for specific audiences so as to take advantage of the popularity of certain campaigns.

Client Testimonials

“We want to make selecting insurance products easy for our customers, so we’ve been actively adopting innovative technologies in recent years. We began working with Appier in 2018 to produce AI-informed analytics and insights into our promotional campaigns and service procedures, two major challenges in the digitization process. Appier’s AI technologies make customers feel at home when they visit our websites, allowing us to not only introduce our products to potential customers but build a better, closer relationship with our existing client base. Better still, Appier significantly improved our conversion rates and the percentage of high-value users. We will continue to work with them to uncover even more marketing opportunities as we lead the way for the application and development of insurance technologies in Taiwan and Asia.”
Zhi Chang Li, Executive Vice President, MSIG Mingtai Insurance
Testimonial

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