Boosting online conversion rate

With increasing revenue coming from online sales of insurance, deepsense.ai’s client was looking for ways to optimize the conversion rate of this sales channel.

The challenge

In the process of purchasing real estate insurance online, clients fill in numerous fields on a form. This makes the process time-consuming, thus hurting the conversion rate and taking a toll on profits. The company was looking for a way to boost the conversion rate.

The solution

deepsense.ai delivered a machine-learning based solution that harvests historical client data and spots the patterns of clients’ preferences and behaviors. With that knowledge, the system delivers real-time offer recommendations in real time, as the potential customer fills out the form.

The second part of the solution leverages data from internal and publicly available databases and connects it with the information provided by the end customer. The model is thus able to predict the features of the real estate that is to be insured. The model also provides information on the state and features of the real estate as well as additional data required to provide an offer and statistics on the building’s location. The solution minimizes the need for the user to make manual changes.

The effect

Suggesting information for users reduces the effort they must invest in the process. This vastly reduces the landing page’s bounce rate and boosts the conversion rate.