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Success Story

Shin Kong Life Insurance

Shin Kong Life Insurance has teamed up with Appier to implement an AI big data marketing strategy

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Shin Kong Life has adopted Appier's enterprise solutions to enhance their big data marketing deployment, develop personalized customer journey services and experiences, and provide accurate and effective insurance services while identifying potential coverage gaps. The company has successfully reduced the cost per click (CPC) of advertising by 25% and accumulated over 35,000 policy holders. This has enabled Shin Kong Life to maintain a long-term loyal relationship with their policyholders, strengthen the matching between customers and service representatives, and improve customer satisfaction and response efficiency. The collaboration has resulted in a triple-win effect of creating corporate profits, achieving sales targets for agents, and satisfying policyholders.

About Shin Kong Life Insurance

Shin Kong Life Insurance was established in 1963 and has over 60 years of history in Taiwan. With its deep roots in Taiwan, the brand has been actively expanding its business to the global stage. In 2017, Shin Kong Life Insurance was the first in the industry to adopt FinTech and AI technologies for big data analysis and prediction. The brand used Appier’s enterprise solutions to build a stronger foundation for its medium- and long-term digital deployment, to increase sales success rates and ensure precise customer acquisition. The brand has now accumulated over 9 million policyholders, and also tirelessly maintains its user community to ensure that it remains policyholders’ most trusted partner.

  • Industry: Finance & Insurance
  • Company Size: 900K policyholders / 10,000+ employees
  • Location: Taiwan
  • Goal: 1. Build complete customer profiles, target high-potential customers, improve advertising effectiveness
    2. Provide personalized interactive marketing
    3. Deeply engage with user communities, and increase brand stickiness

Products Used:

  • AIXON|Intelligent Data Augmentation Platform

    AIQUA| AI personalization cloud

    BotBonnie|Conversational marketing platform

 

 

Phase 1: Using AI to build holistic customer profiles and optimize digital ad performance

Shin Kong Life used AIXON’s Intelligent User Profile, powered by AI and deep learning technologies, to extract de-identified customer characteristics for probabilistic matching. These characteristics were then merged with Shin Kong Life’s existing customer data (such as customer affinity and transaction data) to create holistic customer profiles. Then, the data was fed back to enrich Shin Kong Life’s CRM database. 

Thus, Shin Kong Life was able to predict the highest value customers for each insurance plan and effectively distribute its business resources. Its sales representatives were able to gain insight into a customer’s potential needs even before meeting them. They could then offer insurance products and services best suited for the customer to make the most of every sales opportunity and increase the rate of successful sales.

To expand new customer segments, Shin Kong Life used AIXON’s AI-predicted keywords and interests to find similar audiences that would help it reach potential offsite audiences. The brand identified three high-converting groups: mothers (lowest cost per click), junior managers (highest click-through rate and entrance rate), and young professionals (high-potential segment). 

Based on these insights, Shin Kong Life chose to prioritize new graduates in its ad delivery. Using ads that included must-know insurance facts and event promotions, the brand achieved 25% lower cost per click (CPC) in 2021. In its later ads, the brand leveraged AI algorithms to predict audiences’ potential interests and used them to match with audiences that had similar interests, expanding its potential customer pool.

 

 

Phase 2: Omnichannel marketing to expand channels for engagement with policyholders

Shin Kong Life leveraged AIXON to predict customers’ potential interests, topics, and insurance-related subjects they would like to learn about. With the additional aid of Appier’s AIQUA AI personalization cloud, the brand automatically delivered effective and informative messages to activate dormant customers. This enabled the brand to optimize its customer experience in every stage of the customer journey and drive revenue conversions.

Shin Kong Life leveraged AIQUA’s AI-powered deep learning recommendation engine to define specific needs and objectives of different audience segments in each level of the marketing funnel. 

It then designed corresponding business touchpoints and created personalized services and experiences to address said needs and objectives. This enabled Shin Kong Life to cover everything from acquisition to maintenance, such as using ads to attract new customers, using AI to track visitor behavior profiles, optimizing policyholders’ experiences, and customer relationship maintenance. 

Furthermore, the brand used AIQUA to detect different behaviors from onsite visitors and trigger personalized interactions. This included displaying personalized website content based on the stage of life a customer is in, targeting visitors leaving the site with surveys and lucky draws, and offering online consultation appointments. 

The brand was also able to suggest relevant insurance products based on interests and keywords, deliver recurring push notifications to subscribers, and even extend interactions by guiding website visitors to the brand’s official LINE account.

Appier successfully helped Shin Kong Life simplify its marketing process by ensuring that all of the aforementioned marketing strategies could provide a seamless engagement experience. This allowed more immediate segment marketing and personalized communication. By using AIQUA to deliver web/app pushes, web/app notifications and utilizing multiple algorithm models, Shin Kong Life was able to display personalized insurance product recommendations throughout the customer journey. This was effective in helping the brand meet its customers’ communication demands and increase the probability of a successful sale.

 

 

Phase 3: Cultivating its user community and strengthening brand loyalty

Shin Kong Life launched LIFE Lab, revamping its official website into a consultation platform with a wide range of interaction points. This served to drive more online appointment bookings. Through fun interactions on social platforms, Shin Kong Life made complex insurance-related knowledge into easily accessible bite-sized information, which in turn enabled the brand to insert itself into the daily lives of its policyholders and potential customers.

Shin Kong Life placed BotBonnie entry points (chatbots) on its official website, Facebook Page, official LINE account, and Instagram, to expand opportunities for engagement with its customers. From active to interactive marketing, every touchpoint along the customer journey was linked. 

Based on each policyholder type, the brand created introduction templates for over 20 insurance types and services. These templates provided immediate personalized interactions and increased potential customers and policyholders’ knowledge of Shin Kong Life’s products. Between all of its channels, Shin Kong Life accumulated over 35,000 subscribers, enabling the brand to steadily and continuously maintain long-term brand loyalty.

Apart from maintaining its website and interacting with customers on social platforms, Shin Kong Life also introduced an exclusive game for the offline FinTech Taipei exhibition. The game achieved a completion rate of 90%. Using a variety of BotBonnie marketing kits, such as Member-Get-Member and Luck Draw, Shin Kong Life successfully leveraged fun interactions to improve matching of customers with customer service agents. This increased its customer service satisfaction and improved its response rate.

By utilizing the synergy between AIQUA and BotBonnie to integrate large amounts of conversational data on social media with onsite engagement data, Shin Kong Life was able to link customer data from interactions across multiple channels. This prevented opportunities for communication with customers or potential business opportunities from slipping away, and also expanded the brand’s first-party data sources. By feeding the data back to AIXON for integration and analysis, the brand built a complete marketing data cycle, ensuring that all marketing decisions were data based and driven. This enabled the brand to continue to optimize its digital marketing performance.

By leveraging Appier’s enterprise solutions, Shin Kong Life was able to complete a holistic big data marketing deployment and create personalized customer services and experiences. The brand was thus able to effectively offer insurance services with precision and discover potential gaps in its coverage. This resulted in a win-for-all where the company earned a profit, sales representatives achieved their goals, and policyholders were satisfied.

 

Key tips from Appier and Shin Kong Life’s success in big data marketing:

1. Use AI technologies to enrich customer profiles, expand potential audiences, and increase ad performance
2. Keep track of every customer touchpoint and provide personalized services and experiences for different customer segments
3. Cultivate a user community to strengthen interaction and communication between policyholders and sales representatives
4. Use data to drive marketing deployment and turn insights into action with data integration and insight analysis

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