Applied analytics to drive smart, actionable, and scalable solutions.

Sutherland leveraged nBAAPTM to build a media mix model for quote volumes from existing customers (CQV) and quote volumes from prospects (PQV). Our team:

• Identified the key drivers impacting quote volumes for various insurance product segments
• Identified the incremental impact of each media action and external factors such as unemployment rate, etc. on quote volume
• Created what-if simulators based on the knowledge gleaned from the media mix models

The insights acquired from the scenarios we ran helped the insurer plan optimal marketing investments. Analyses included:

Scenario 1: The response curve equation was applied to current and future media spends or impressions. The difference between the two was the incremental quote volume, which is spread across the weeks using the decay factor.

Scenario 2: In this analysis, the user can alter the current and future spend or impressions for various media and see how much each of it contributes to the quote volume. The equation is applied to the current spend; the resultant quote volume is the current quote volume. Similarly, applying the equation to future spend yields the future quote volume.

The Variables analyzed across multiple scenarios included:

• Dependent variables
• Quote volumes from existing customers (CQV)
• Quote volumes from prospects (PQV), two different models
• Independent variables
• Broadly classified as impressions (mainstream media, cable TV, Spanish TV, etc.) - Spend (radio, print, news and magazines, etc.)
• Clicks (keyword search, banner ads, organic and paid search)
• Macro-economic indices such as unemployment rate, gas prices, etc.

The various analyses helped the carrier allocate media spends for desired quote volumes. This new insight was used to identify prospects and focus call center resources for the most impactful outcomes.