Increase in conversion – Ageas case study
To support the client in understanding their trading performance, specifically when they have experienced much higher PCW conversion than was in their plan.
Client saw no change in their PCW 'times top' data and made no significant rate changes so were unable to understand why they had written more volume than expected.
Our data uniquely allows us to view whole market performance of all the clients' group brands giving us greater visibility of competitiveness outside of rank 1.
We used week on week analysis of the position and premium density of the clients' group brands to understand the top 5 prevalence and frequency of position.
We found that although the client rightly saw no change in their rank 1 competitiveness; they had reduced the distance in premium between their group brands giving them increased 'stacking' of their brands in the top 5 competitive positions.
In addition we established that the rank 1 brands they competed against most often were 'essentials' type products that were less feature rich than their lead product.
This resulted in greatly increased PCW conversion.
Our data allowed them to identify that this was due to density of group brands (how they stack).
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