Oracle Customer Success — Mercury Insurance

Mercury Insurance

Mercury Insurance Personalizes Quote Funnel to Drive Conversions by 56%

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Mercury Insurance is a multiple-line insurance organization that offers a diverse product portfolio, including personal auto, homeowners, business, and mechanical breakdown insurance. Headquartered in Los Angeles, Mercury generates more than $3 billion in revenue annually and continues to grow its business through a mix of independent agents and a direct-to-consumer online channel. In an effort to drive profit margins in a crowded marketplace, Mercury needed to implement a personalization program to gain a better understanding of each website visitor’s unique needs.
 
Challenges
  • Implementing a successful personalization program
  • Optimizing the quote funnel to drive profit margins
  • Testing and optimization
  • A/B web testing
  • Segmentation and personalization
Results
  • Generated 19.9% conversion rate across the board of the Basic insurance package.
  • Achieved 56% conversion rate uplift with visitors in a specific micro-segment.
  • Attained 44% conversion rate uplift with visitors who recently had been in an accident.

Execution

Mercury offers four types of insurance packages on the website’s Rates Page: Basic, Enhanced, Premium, and Custom. By default, the Basic insurance package is shown to all visitors at the end of their quote. Mercury ran an A/B campaign and tested the four different insurance packages to see which one would resonate the best. Using Oracle Maxymiser, all visitor data was automatically captured and analyzed to provide insights about the best performing customer segments that could be targeted for higher conversion uplift. 
 
Mercury used Oracle Maxymiser to uncover new customer segments based on data captured in real time from online quote submissions. In addition, for each visitor, Oracle Maxymiser mapped the preferred online experience that produced the highest conversion uplift, realizing a 19.9% conversion rate of the Basic package with overall customers, and a 56% and 44% conversion rate in specific micro-segments. 

About Mercury Insurance

Headquarters

 
California, United States

Annual Revenue

 
$3 billion

Oracle Solutions Used

Published:  Apr 29, 2016