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Saturday, August 23, 2014 
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Conseco uses 5Buckets to further engage its agents

Automated communications help Conseco with agent engagement and retention

A Right On Interactive Case Study

www.rightoninteractive.com

Abstract
Founded in 1979, Conseco, Inc., is the holding company for a group of U.S.-based insurance companies. Headquartered in suburban Indianapolis , Indiana , Conseco is one of the leading sources for supplemental health insurance, life insurance and annuities for middle Americans. Conseco insurance Companies (a subsidiary of Conseco, Inc.) sells through a nationwide network of independent agents.

Conseco Performs Internal Analysis of Agent Behavior
In 4Q07, Conseco initiated an agent behavior analysis to determine how to better engage agent distribution. The objective of the study was to identify key touch points during an agent’s relationship with Conseco that best identify an agent’s propensity to become more or less loyal to Conseco.

The Findings of the Study
Conseco was able to gain valuable insight into agent behavior and performance. Some key findings included:

  • The most productive agents sold their first policy within the first 90 days after appointment.
  • The number of sales and the timing of those sales were key indicators as to whether an agent would become more loyal.
  • The number of days an agent was inactive corresponded to the degree of risk of losing that agent.

Conseco was able to devise a strategy that would positively impact agent behavior.

Acting on the Findings
Armed with this new information, Conseco deployed a behavior based marketing automation program designed to continually move agents along the relationship continuum—toward advocacy. The agent engagement program is designed to assist the sales team in moving an appointed agent to loyal producer with an overall goal being to keep agents engaged, educated and incented to strengthen their relationship with Conseco.

Download Complete Case Study


 

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