₹400 Cr incremental branch level retention…
The Problem
Every year, this insurer processes surrender requests worth ₹8,000 Crore — customers walking into branches wanting to exit their policies early. Branch executives retained 25–30% of surrenders by value. But the insurer wanted much more!
The gap lay in one unanswered question every customer walked in with:
"What will I actually get if I stay?"
Branch CRMs showed fund value and premiums paid — but couldn't project future benefits. For unit-linked policies, that meant no view of how the policy would grow on real historical returns. For traditional plans, no projected maturity number, no paid-up scenarios. Without the tools to show these, even good conversations ended in surrender!
The Solution
ValuEnable's RenewBoost was deployed as a branch retention tool. When a customer arrives with a surrender request, the executive generates a personalised projection on the spot:
- Projected benefits based on actual historical fund returns
- Effective charge — a single number showing how policy costs reduce in future years
- A personalised PDF or video the customer can take home, in plain language
The Impact
Retention rate: 25–30% → 40%+ ~ 40% improvement — same branches, same team, same customer base.
On-ground feedback from users has continuously improved the models — a virtuous cycle that makes every subsequent conversation more effective.
What Next
The insurer extended the use case to renewal collection/persistency metric where a considerable improvement was observed for complex product categories such as high Sum Assured unit linked or early income par products where the challenge was to simplify complex benefit structures for existing customers and callers who referred the platform to speak to customers and drive renewals ! RenewBoost covers 600+ users of the insurer and ~100 unique products of the insurer are live on the platform!
