turtlemint case

1. ELECTRONIC BUSINESS
CASE: INSURANCE E-COMMERCE
Prepared By-
Aakansha Singh (20165001)
Aayushi Shah (20165002)
Akshay Gaikwad (20165003)
Ann Augustine (20165004)
Aquesha Tirmizi (20165005)

2.  Online-insurance seller
 Turtlemint has raised an undisclosed amount in a
funding round led by Nexus Venture Partners and
Blume Ventures
 Other players
 Policy bazaar
 Cover Fox
 Mintwise , etc

3. • How should they go about
building a sound strategy?
• What are the various tactics they
should employ to execute the
strategy?

4.  Increase the customer base
 Better customer experience
 Increase Awareness through online and offline channels
(Brand Development)
 Develop mobile app
 Increase tie ups with insurance brands in market
 Differentiate from competitors

5. • What should be the KPIs to
measure the progress against
each tactic ?
• Provide ideas on improving the
customer experience on the
website ?

6.  Higher customer retention rate & more
conversion of visitor to customer
 Increased footfall of customers on website
 Downloads for the app
 Increased market share
 Tie-ups with more insurance brands

7. • Better SEO optimization
• Use of key words (generate Google juice)
• Appearance
• Make it more lively use of small pictures , updated
colour scheme, effects on site
• Highlight customer specific content
• Questions to improve visitors curiosity “why do you need
this plan”
• Design
• Side slide preview instead of scrolling down
• Avoid repetition of content (blog, review , video )/ alter
positions
• Addition of drag down bars
• Additions
• Chat box/ query box
• Graphics
• Customised
• Know your visitors
• Feedback

8. • What are the various online or
offline marketing campaigns they
can launch?
• How can they retarget their
audience and through which
channels?

9. Online Marketing
Campaigns
1. SEO campaigns
2. # GoPaperless
3. Facebook Ads
4. Referral Marketing
Campaign
5. Photo Campaigns
6. Compete Campaign
7. Customer Marketing
Campaign
Offline Marketing
Campaigns
1. Community Events
2. Door-to-door
Relationship Building
3. Field Marketing
Campaign (Road Show
Campaign)
4. Mobile billboard
5. Participating in trade
shows

10. Retargeting can be done by:
 Online Advertising
 Referrals
 Add On Services
Channels used for retargeting can be both
online as well as offline like,
 Facebook Newsfeed
 Directly take Follow up with clients
 SMS
 Telephone
 E-mail

11. • How can they differentiate
themselves from other
competitors?
• How can they play a larger role in
increasing the size of the
insurance industry?

12.  Website Visitors may be
more likely to buy if they
know a live person can be
contacted.
 Not to ignore facebook and
twitter as a platform to
showcase your services and
promoting via campaigns.
 More focus should be on
Video content as it can
ignite emotions. It is the
best way to encourage social
shares
FACEBOOK
TWITTER
FACEBOOK
TWITTER

13.  Make customer centricity a strategic priority and
invest substantially in digital technology.
 Through advanced analytics, insurance companies
can obtain a 360-degree view of client behavior to
anticipate their needs and offer the right products
with the right price, at the right time.
 Collaborate with IRDAI for Insurance awareness
campaigns.
 Investing in distribution network technology is
fundamental to success.

14. • What should they do to improve
the conversion rates on their
website?
• Take certain assumptions to build
a mini P&L and do sensitivity
analysis

15.  Focus on your call to action.
 Experiment with Layout, Content, Style and
Functionality on Landing Pages
 Test the right visitors
 Include as few fields as possible
 Clearly state the benefits of your product or
service
 Include a clear value proposition
 Include consumer reviews.

16. Particulars Amount (in Millions)
Operating Revenue 725
Other Income 83
Total 808
Expense
Employee Expense 320
Depreciation 21
Advertising & Promotion 133
Administration & other expense 91
Network & Internet 23
Total 615
Profit before Tax 193
Tax (40%) 77
Profit 116

17. Particulars Pessimistic Normal Optimistic
Revenue 580 725 870
Other Income 83 83 83
Expense 615 615 615
Profit before Tax 48 193 338
Tax (40%) 19 77 135
Profit 29 116 203
75% - 75%

18. • Which customer segments
should they target and what
should be the communication for
each?

19. 2
Wheeler
• Age 18 -
40
4
Wheeler
• Age 25 -
65
Health
• Age 0 -
80
Term
Life
• Age 0 -
40

20. Thank You