Question

Case Study: Greenly Insurance Company

Greenly has worked hard over the past year and has increased their marketing efforts to reach certain “untapped” demographics. Greenly has determined that it has been able to retain its Generation Y customers, who have established their own households. Greenly’s new survey of former customers has revealed that it is losing its Baby Boomer customers who like to shop for coverage based on price. One of the reasons most often cited for leaving is the inability to obtain quotes through Greenly’s Web site.

Create your own assumptions using the information presented to evaluate Greenly’s and recommend an action plan / strategies for growth.

Answer 1

From the case information it can be established that Greenly is rapidly loosing it existing customers in the baby boomer segment but retain the gen Y customers. We can assume that the need for insurance is different for both these segment. One required more coverage due to starting of family and being in adulthood while the other section seeing their departation from the earth mostly concern about their health and insurance coverage to protect their health. The baby boomer segment do not take risk also and search for safest investment.

To attract the baby boomer what Greenly should do is to craft a new strategy for this segment and should evaluate why they are leaving the system. Greenly should address the primary concern of them by correcting what they are demanding. To get adequate reason it should ask questionnaire to these segment and conduct a consumer survey. I think website of Greenly should provide better and customized quote to the baby boomers. It can be done by using predictive modeling, Artificial intelligence and machine learning to predict the need of a customer depend upon the details provided by them.