Introduction

For any insurance-based company, policy renewal is an important metric for driving business. The closer users are to insurance expiry, the higher their intent for policy renewal. Nudging users before policy renewal helps ensure timely renewal, potentially increasing revenue and customer retention.

Advantages of nudging users before policy renewal

• Increased renewal rates: Reminders and proactive engagement can significantly improve renewal rates, as users are reminded of the upcoming deadline and the benefits of continued coverage.
• Revenue stability: By encouraging renewals, businesses can ensure a consistent income stream and avoid potential churn.
• Customer retention: Retaining existing customers is often more cost-effective than acquiring new ones, and nudging users to renew strengthens the customer relationship.
• Highlighting value: Nudges can be used to showcase the policy's benefits, address any concerns, and potentially offer upgrades or special offers, making the renewal process more appealing.
• Improved customer experience: By providing timely reminders and personalized communication, businesses can enhance the customer experience and demonstrate their commitment to customer satisfaction.
• Opportunity for upselling or cross-selling: Nudges can be used to suggest related products or services, potentially increasing revenue beyond the initial policy renewal.

We will achieve this use case by creating a Push campaign to remind users about their health policy renewal.

Expected Result

Users receive a push notification on their phones to renew their policy:

Create a Push Campaign

In this section, we will create a Push campaign to remind users about their health policy renewal.

Step 1: Target Users

1. On the left navigation menu in the MoEngage dashboard, click Engage, and then click Campaigns.
2. On the All campaigns page, click + Create campaign.
3. Under Outbound, click Push > Event Triggered.
   
   You are taken to the first step, Target users, of defining your campaign.
4. Define your campaign with a name and tags. Enter the following details:
   1. Team: Select a team if your organization has teams enabled for your account. For more information, refer to Teams in MoEngage.
   2. Campaign name: Enter a name for the campaign. For example, Policy Renewal.
   3. Campaign tags: Select the required campaign tags.
      
5. In the Trigger Criteria section, define the trigger condition.
   For a policy that is expiring today, you must remind the user immediately about the renewal of the policy. The policy renewal or expiry date should be in the correct date-time format.
6. To define the above-mentioned dynamics, perform the following steps:
   
   1. In the IF user section, select policy_issued.
   2. Click + Attribute and select the policy expiry date as your preferred date.
   3. In the THEN trigger the message section, select the Immediately option to send a reminder to the user immediately. So, for this example, the target audience can be as shown below:
      
      The selected attribute must be in the supported format for the filter above to work properly. For more information, refer to Create an Event-Triggered Campaign.
7. In the Target audience section, select All users.
8. In the Target Platforms section, select Android.
   
9. Click Next to move to the second step, Content, where you can define the content for your Push campaign.

Step 2: Content

1. Select the template that you would like to use. For our example, select Timer.
   
2. Enter the required content for the campaign. We can enter the content manually or generate it using Merlin AI. For more information, refer to Generate Push Messages with Merlin AI.
3. Add personalisation to the message using information such as the name of the user and policy name. Such personalization makes the message more contextual, especially for users who have more than one card. To do the same, enter “@". The Push Personalization pop-up is displayed from where you can find your event attributes, such as bill amount, credit card name, or user properties, such as name.
   
   You can select the attributes based on your requirements.
4. Use the deeplink option to take the users to the bill payment page in your app.
   1. In the Default click action list, select Navigate to a screen.
   2. In the Take user to a specific screen list, select the respective screen.

5. In the Timer section, add timer details. You can select the timer duration using the Timer ends at field.

   
   In this case, the notification will be dismissed from user’s device after 2 hours.

6. In the Advanced section:
   1. Turn the Make notification sticky toggle on to make the notification sticky.
   2. In the Dismiss button text field, add the required details.
      
7. In the Template backup section, enter the backup content details.
8. Click Next to move to the third step, Schedule and goals, where you can define your campaign's schedule and goals.

Step 3: Schedule and Goals

1. Define when to start and end this campaign and the conversion goal based on your requirements.
   
2. Change the deliverability settings based on your requirements. For more information, refer to Create Push Campaigns.
   
3. Click Publish.

Conclusion

In this use case, we created a Push campaign to send a reminder to users about their health policy renewal. It will nudge the users to take the time-sensitive action.