By using Regal, 36% More Homeowners are Talking to Kin Insurance

Homeowners insurance provider, Kin Insurance, sees 36% lift in ‘engaged customers’ and 8% lift in bind rate by using Regal’s branded cell phone caller ID to reach their prospects.

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CASE STUDY
INDUSTRY

Insurance

IN NUMBERS

In Regal’s Branded Caller ID, Kin found exactly what was missing in its phone program and saw phenomenal results.

11%

Lift in 3 Day Assignment

*Leads who spoke with a sales agent within 3days of lead creation

36%

Lift in Engaged Call Rate

*Calls lasting 60 seconds or longer of talk time

8%

Lift in 7 Day Bind Rate

*Leads who purchased an insurance policy within 7 days of lead creation

Michael Rose-Sandow

Director of Sales Operations, Kin Insurance

"Regal's call branding solution allowed us to connect with more leads, have more meaningful conversations with those leads, and ultimately convert more leads into paying customers."

An Innovative Approach to Homeowners Insurance

Soon after its launch Kin quickly became one of the fastest growing insurtech companies in the country. Kin’s innovations had definitely struck a chord with homeowners, its fresh approach to homeowners insurance was novel in two key ways.

First, Kin created a quick and easy buying experience by offering homeowners customized online quotes based on the customer’s specific home context and budget.This transparency and efficiency, coupled with great customer experience, built trust with customers. Second, the Kin team was super focused on customer service and satisfaction, including providing streamlined relief to customers who had filed claims. Kin quickly managed to reach an NPS of 83 compared to an industry average of 35.

PROBLEM:

How to Reach More Homeowners on the Phone?

Since Kin’s service was a high ticket item requiring a fair amount of consideration, phone sales quickly became a critical high-converting acquisition channel for the Kin team. Like most other businesses relying on phone sales, one of the main challenges Kin encountered was how to get prospective customers (who had visited Kin’s website and were considering its service) to speak with a Kin sales agent. The Kin team recognized two metrics that contributed to high on-call conversion rate.

First and foremost they needed to get the customer to answer the phone. However, this proved difficult even with prospects that were clearly high intent. Since Kin were calling from unknown phone numbers, the customer had noway of knowing that this number was actually a desired call from Kin.

No less important, data showed that it was key for the customer to be in the right mindset to listen and engage with Kin’s sales agent. Kin labeled this customer behavior as “Engaged Call Rate”, namely calls lasting 60 seconds or longer. An engaged customer who was in a healthy mindset of listening and engaging, was more likely to convert. However, even when customers did pick up Kin’s call from the unknown number, the uncertainty around who was calling and why kept them somewhat skeptical and “Engaged Call Rate” remained low.

The Kin team sought a way to increase brand credibility so as to get more customers to pick up the phone, as well as to reduce hesitation and increase on-call engagement rate.
SOLUTION:

Switching from Unknown Numbers to Branded Caller ID

In Regal’s branded caller ID service Kin found exactly what was missing in its phone program. By being able to label its outbound calls to customers with a “Kin Insurance” brand, it reminded customers that homeowners insurance was on their ‘to do list’ and that Kin’s call was of interest to them. No less important, Kin’s branded caller ID projected reliability and built trust with the customer. This dramatically contributed to customers entering the conversation in an attentive and engaged mindset, rather than questioning the legitimacy of the caller and the call reason.

The results were phenomenal. Within a single quarter 3 Day Assignment Rate (the percentage of leads who ended up speaking with a sales agent within 3 days of lead creation) increased from 47% to 52% (11% lift), Engaged Call Rate (calls with 60 seconds or longer of talk time) increased from 5% to 6.8% (36% lift), and 7 Day Bind Rate (the percentage of leads who bound, i.e. were sold an insurance policy, within 7 days of lead creation) increased from8.4% to 9.1% (8% lift).

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ABOUT THE CUSTOMER

Kin’s mission is to reimagine home insurance For Every New Normal. While other insurers struggle to handle a fast-changing world, Kin is built for the future and prepared to meet its challenges head on while helping our customers do the same.

Because of our technology and direct-to-consumer model, we provide affordable pricing without compromising coverage, even in areas most impacted by climate change.

Source: kin.com

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Robby Romance

Director, Strategic Partnerships, HealthBird

"Regal has helped us improve our sales per agent per day by 250%, improve our answer rates by 100%, and our conversion rates by 40%. As a result, we have been able to engage with more qualified prospects, verify their info for successful conversions, and drive additional revenue."

Michael-Rose Sandow

Director of Sales Operations, Kin Insurance

"Regal allows us to connect with more leads, have more meaningful conversations with those leads, and ultimately convert more leads into paying customers."

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Jacques Rojahn

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William Lucas

Senior Manager, Club Z!

"Regal.io instantly doubled our answer rates and improved productivity of our sales team. We have been able to consolidate what we used to do in three separate systems all into one place while personalizing our outreach to prospects."

Scott Chesrown

Co-Founder & COO, Perry Health

"Regal.io instantly made our enrollment team 4x more productive. Now that we have improved our speed to lead, we use Regal.io's journey builder and reporting to personalize, measure and optimize the experience for each customer."

Leila Kutler

Senior Director, Strategy & Growth, Angi

"Regal allowed us to invest in a personalized conversational experience for our members, and to A/B test how to best support homeowners at key moments."

Manuj Goyal

Product Manager, The Farmer's Dog

"Starting a phone sales program to call our unconverted leads and existing customers was so straightforward with Regal. And we are seeing a 58% lift in conversion."

Sarah Haselkorn

VP Sales & Support, MakeSpace

"After launching Regal with Branded Caller ID on cell phones for our lead outreach calls, we saw a 20% lift in conversion at a 20x ROI within a week. We've been looking for a solution like this for years!"

Robby Romance

Director, Strategic Partnerships, HealthBird

"Regal has helped us improve our sales per agent per day by 250%, improve our answer rates by 100%, and our conversion rates by 40%. As a result, we have been able to engage with more qualified prospects, verify their info for successful conversions, and drive additional revenue."

Read the Case Study

Michael-Rose Sandow

Director of Sales Operations, Kin Insurance

"Regal allows us to connect with more leads, have more meaningful conversations with those leads, and ultimately convert more leads into paying customers."

Read the Case Study

Kevin Heung

VP Performance Marketing, SoFi

"We've seen answer rates go up and success with Regal that delivers strong returns we can truly measure."

Read the Case Study

Jacques Rojahn

Head of Sales, Career Karma

"With Regal.io's journey builder and intelligent routing capabilities, we are able to streamline our outbound sales process. We are able to assign a prospective student to our coaching team to create a more consistent and impactful experience for our community."

Read the Case Study

William Lucas

Senior Manager, Club Z!

"Regal.io instantly doubled our answer rates and improved productivity of our sales team. We have been able to consolidate what we used to do in three separate systems all into one place while personalizing our outreach to prospects."

Read the Case Study

Scott Chesrown

Co-Founder & COO, Perry Health

"Regal.io instantly made our enrollment team 4x more productive. Now that we have improved our speed to lead, we use Regal.io's journey builder and reporting to personalize, measure and optimize the experience for each customer."

Read the Case Study

Leila Kutler

Senior Director, Strategy & Growth, Angi

"Regal allowed us to invest in a personalized conversational experience for our members, and to A/B test how to best support homeowners at key moments."

Read the Case Study

Manuj Goyal

Product Manager, The Farmer's Dog

"Starting a phone sales program to call our unconverted leads and existing customers was so straightforward with Regal. And we are seeing a 58% lift in conversion."

Read the Case Study

Sarah Haselkorn

VP Sales & Support, MakeSpace

"After launching Regal with Branded Caller ID on cell phones for our lead outreach calls, we saw a 20% lift in conversion at a 20x ROI within a week. We've been looking for a solution like this for years!"

Read the Case Study

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