What is the cost of online user acquisition
Coverfox and Vizury are pioneering "Offer Level Personalization" to reduce user acquisition costs by up to 75%
BANGALORE, March 23 / PRNewswire / - Coverfox, a top 50 global insurtech company, has shaken the insurance industry in India with its comparison website, where users can compare, purchase and manage insurance contracts. Coverfox, together with Vizury, pioneered "offer-level personalization" across the various marketing channels. It is about effectively addressing users who leave the website after requesting an insurance offer.
"Vizury is characterized by 1: 1 personalization at the intersection between adtech and martech channels. After seeing great and sustainable results in the programmatic display area, where we were able to reduce acquisition costs by 75%, we are now expanding the solution other channels, "said Siddesh Karkar, Head of Online Marketing at Coverfox.
When a user leaves the Coverfox website after requesting an offer, Engage - Vizury's marketing platform - collects variables at the offer level such as the car model, vehicle registration, insurance premium, etc. These detailed data points are then used to create highly meaningful personalized advertisements for the User delivered to return to the website.
"We have consistently improved both economies of scale and cost of acquisition on the Vizury platform. But most of all, we've been able to collaborate on innovative marketing through channels like Browser Push. This was a key factor in our disruptive approach to the online insurance industry, "said Jaimit Doshi, Chief Sales & Marketing Officer at Coverfox.
Last year we focused on programmatic display and Facebook channels. But Coverfox recently introduced browser push notifications, a new browser-based marketing channel similar to push notifications on mobile devices.
"Coverfox and Vizury share a passion for innovation. The partnership has spurred us on to break new ground in the area of personalization. We want to extend the collaboration to channels beyond the programmatic area and help Coverfox achieve a consistent and synchronized interaction with Reach users on all of these channels, "said Subra Krishnan, SVP Products at Vizury.
Information about Coverfox
Coverfox.com is the fastest growing insurance portal in India. There you can compare, conclude and manage insurance contracts. The platform is based on proprietary technology and an algorithm model. It allows you to compare and choose between different contracts from leading insurance companies. Key features are described and contracts can be securely signed online. The scope of insurance offered by Coverfox currently covers health, car, bicycle, travel and household effects.
Coverfox is part of Glitterbug Technologies, a technology company that has completed Series A and B funding rounds with global funds including SAIF Partners, Accel and Narayan Murthy's Catamaran Ventures.
Information on Vizury
Vizury is a technology company in the growth marketing space supporting the finance, travel and e-commerce brands with user retention and incremental conversion. Vizury Engage is a growth marketing platform with machine learning functionality that offers user-level forecasting and 1: 1 messaging. Vizury works with Citibank, eBay, Prudential, Jet Airways and Etihad Airways, among others, and is represented in over 40 countries.
More information is available at http://www.vizury.com.
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