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Case Study

Maintaining a steady 40% MoM growth with personalized coupons

Industry:
Finance & Insurance
Size:
210-500
Customer since:
2020
Location:
Asia-Pacific

Interviewee: Reza Muhammad, Co-Founder of Lifepal

Lifepal is the largest online marketplaces for insurance in Indonesia. They collaborate with 40+ insurance providers and have already served 100000+ clients, thanks to their 3 million monthly visitors and 1 million social media followers. They offer unbiased information & policy reviews, the largest selection of policies in the country, and convenience with a fully digital customer experience.

Lifepal started operating in mid-2019 when there was no easy way for customers to compare the offers and prices between insurance products, especially for health and life insurance products. Customers had difficulties understanding specific offers and their benefits, preventing them from choosing the right insurance. 

Lifepal was born as the answer to this problem. They offer an online marketplace for insurance products that lets you find insurance offers and compare them to each other. They also offer personal advisors to all potential clients who can explain the offers and help with choosing the right one. Lifepal started with selling health insurance and then expanded into selling car insurance, travel, accidents, critical illness, and more. They have two sales channels: e-commerce and telesales. 


Maintaining a steady 40% MoM growth with personalized coupons

“I have built something similar in my previous company and I would rather have someone with more expertise to handle this other than us if it is not my main business.”

Key Challenges:

  • Poor product understanding on the market.
  • Price-sensitive market. 
  • Regulated pricing on insurance products. 

“The information was so complete and clear, I did not have to contact support or the technical team at any stage of the integration process.”

The main challenge for Lifepal, as a new company on the market, was customer acquisition. To offer good prices, they needed a promotion engine. As Reza, one of the co-founders of Lifepal had previous experience building a promotion management system and remembered it as lots of iterative work and maintenance tasks, he decided that he wants an out-of-the-box solution for discount management, to decrease the overhead and quicken the time-to-market. 


When he started looking for a Promotion Management Engine, his main use case was discount vouchers, which could be generated quickly and securely. Other requirements were fraud-prevention mechanisms and the possibility to set up custom validation rules. Luckily, Voucherify has met all these requirements. 


Maintaining a steady 40% MoM growth with personalized coupons

Solution

Reza has looked at other solutions, too, but the lack of information on their websites did not make him feel comfortable about committing himself to shady providers. Voucherify gave him all the information about the features and open documentation that his developers could check right away. 


Another feature that convinced him to use Voucherify was the possibility to add custom validation rules, thanks to metadata. 


The integration took about two weeks and required one dedicated developer. This includes testing.


The introduction of discounts has helped Lifepal tremendously. Lifepal has been growing 40% MoM so far and plans to continue this pattern until they reach market saturation. As the acquisition is going well and they are one of the top 3 providers in Indonesia, they are considering launching referral and loyalty programs later on this year, using Voucherify, to focus on customer retention and use brand advocates to promote their business.


Results

40% MoM growth
2 weeks time-to-market
7000+ closed deals
100% increase in sales
The largest online distributor of insurance in the country after 1.5 years since the launch
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