MSIG Mingtai Insurance supercharges digitization with AI-informed Analytics from Appier

MSIG Mingtai Insurance doubles down on their customer-centric approach to marketing and service powered by AI

TAIPEI, TAIWAN – Media
OutReach – 3 June 2021 – AI SaaS company, Appier
(TSE: 4180) and Mingtai
Insurance (Mingtai), of parent company Mitsui
Sumitomo Insurance Group (MSIG) supercharges digitization with
AI-informed analytics from Appier. Born with a customer-centric approach to
insurance, MSIG Mingtai Insurance cracks the code on their marketing campaigns
and service incidents with insights and data powered by AI.

The two companies began collaborating
since 2018 and today’s joint release highlights the impact of the collaboration
between the two companies:

1. Online subscription rates rise to three times the
   industry average
2. Push notifications on owned media nearly doubled (Q4
   vs. Q3)
3. Average transaction value rose by 24% (Q4 vs Q3)

“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”, said Zhi Chang Li, Executive Vice President, MSIG Mingtai Insurance.
“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,” he added.

Appier was able to
help Mingtai address years of pain points with Appier’s data science platform, AIXON
and customer marketing platform, AIQUA
for their various product suites. Challenges of a longer purchase and renewal
cycle especially with property insurance and issues with making the right recommendations
to their customers without a complete view of their customer profiles, were
also improved. Here is how Mingtai tackled these barriers:

1. One-stop automated communication: AIQUA allows Mingtai
   to take control of their marketing activities across various digital
   channels in a one-stop manner, and automatically deploys tools to
   communicate with users across the sales funnel for effective lead
   conversion.
2. 360-degree view of the customer: Appier’s AI engine
   enriches Mingtai’s customer data by labelling users’ interests and
   keywords to more accurately identify them based on existing CRM data.
3. Multi-dimensional user segmentation: The AI ​​module
   built in AIXON can identify customer groups based on keywords and interest
   tags and target them with tailored personalised messages to increase
   conversion rates and reduce interference of messages.

Success scenario 1: Target high value
customers to achieve desired goals across all stages of the customer journey.

Rich content such as blog articles, product
information and news releases featuring industry collaborations or awards are
tools that can be deployed to customers at various stages of the customer
journey. The intelligent deployment of these content can help achieve goals of
acquiring new customers, increasing loyalty or revenue. Combine this with the
360-view of the customer along with an AI engine, Mingtai was able to label its
website’s rich content with different topics that matches with different
customer groups, and effectively target the right content to the right audience
at the right time and achieved its desired goals of communicating effectively
to customers across stages of the customer journey.

Success Scenario 2:
An agile marketing strategy based on immediate feedback on Chelian
Yushou UBI Automobile Comprehensive Insurance (Usage-Based Insurance)

For the recent launch
of their new product, Chelian Yushou UBI Automobile Comprehensive Insurance,
Mingtai uses Appier’s data science platform, AIXON, to target high-value users
more accurately and perform personalised communication for segmented audiences.
Complementing AIXON with AIQUA, Mingtai was able to expand the reach of the
audience and delivered a more personal service experience for their customers.

Established in 1960,
Mingtai Insurance is one of the earliest insurance companies established in
Taiwan. Over the years, their customer-centric approach to insurance and
dedication to customer satisfaction has won the trust of their customers.
Recently, Mingtai also embarked on a digital transformation journey, in
collaboration with parent company MSIG to accelerate its capabilities in big
data, AI, digital marketing and blockchain and marked the beginning of the
Appier-MSIG Mingtai Insurance collaboration which started in 2018.

For more success
stories, please visit Appier’s
Success Stories page.