Increase Insurance Attachment with Lower Risk
Open new opportunities to increase customer ARPU by upselling insurance plans by leveraging MCEโs digital device lifecycle management (dDLM) platform technology
Take Control of the Insurance Exchange with Robust Device Intelligence
Mobile operators are facing limited growth opportunities in a saturated market. Insurance is an effective revenue growth driver, but not knowing a deviceโs objective condition can create serious financial risk for an operator. What operators require is mobile device intelligence.
MCEโs digital-first platform captures robust intelligence, including diagnostics, configuration and cosmetic condition data to assess a device and customer disposition at any given point in the device lifecycle.
The diagnostics assessment results allow customers to validate their deviceโs condition for insurance enrollment, using in-store self-service tools, completing the process independently or with rep-supported assistance. This objective evaluation capability allows an operator to:
- Realize higher average selling price (ASP) thanks to cycle time optimization
- Save costs through leveraging pre-shipment information
- Make inoperable device sellable, unlocking untapped revenues
Boost open enrollment take rates by +20-30% via cosmetic grading
The MCE Difference: Omnichannel
MCE delivers mobile operators omnichannel capability, allowing customers to purchase insurance on any channel, or start on one channel and complete on another. This capability is powered by MCEโs dDLM platform, which offers three core capabilities:
Remote intelligence
The ability to engage a customer remotely via themyOperatormobile app and service their needs, including the ability to assess insurance risk objectively in remote settings
Omnichannel flexibility
Providing the same standard of service and offers across any engagement channel, with the ability to offer insurance to customers in both retail and themyOperatorapp
Common data layer
Customer device history is leveraged towards a greater assessment of risk for insurance, while customer experience history helps connect journeys between channels to prevent repetition of steps
Know Your Customer: Bring-Your-Own-Device (BYOD)
Consumers are expected to keep their mobile devices longer as the price for a new one continues to rise. However, mobile operators trying to attach insurance to new customers with foreign devices face increased financial risk by not knowing their customerโs device. Operators can leverage MCEโs device intelligence capturing capabilities to take more control in the onboarding process, objectively assess a deviceโs condition and accurately evaluate insurance risk before attachment.
- Boost BYOD conversion by 40-65%-pts digital mix, & +40-60%-pts digital-first conversion.
Create New Revenue Opportunities:Year- Round Enrollment
Customers also prefer to receive contextual marketing promos, expressing higher satisfaction when they do (+6 NPS). Insurance is a powerful tool to both meet this expectation and help increase ARPU, yet it is relegated only to fixed periods during the year or device lifecycle.
MCEโs diagnostic technology allows mobile operators to attach insurance beyond traditionalenrollment periods with its device evaluation technology. This also allows operators to become proactive โ encouraging customers to run device health checks on their device remotely and at timely points in the device lifecyclein order toidentify opportunities for contextual marketing, including insurance attachment.
Contextual Marketing Impact
Drive stronger customer retention with contextualized marketing on insurance attachment
Increase loyalty by +1-5bps with ongoing health checks and smart solution (i.e., upgrade vs. repair or selling insurance protection after showing clean device health)
Maximize re-attach post-churn
by +5-10% through contextual marketing
Leverage first 30-day eligibility with contextual marketing and cosmetic checks for +1-3%-pts attachment
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