Mutua Enginyers was established in 1958 as an instrument of the College of Industrial Engineers of Catalonia, with the purpose of fulfilling one of its statutory mandates: "to organize and develop social security among its members." With over sixty years of experience in the insurance and savings sector, the entity offers comprehensive services to individuals, companies, associations, and technical groups, both in engineering and other disciplines. Its wide range of services includes life insurance, accident insurance, health insurance, and other social security products.
Mutua Enginyers faced the challenge of identifying and activating new policy sales opportunities within its current customer base. Its main objective was to improve its Sales efficiency and increase the average ticket of its existing customers while personalizing its reach and value proposition. Additionally, it emphasized the importance of the Marketing and Sales team understanding the factors influencing a customer's decision to take out a new policy.
Increasing the Average Ticket with Artificial Intelligence
We developed an Artificial Intelligence solution that helped Mutua Enginyers identify which customers are more likely to take out new policies, as well as which specific policies. This solution included an explainability layer (drivers & barriers) and insights that provided teams with greater context to understand the factors influencing the purchase of new policies, as well as understanding the characteristics of the segments that converted best for different types of policies. Once the AI model generated a prioritized list of policies per customer with their probability of purchase, these results were integrated into a cross-selling module designed to increase the probability of purchasing new policies. Each customer received a personalized price for each policy, with the aim of maximizing conversion. Additionally, we developed a generative AI solution for automatic and personalized offer creation.