Springwood-Digital transformation for Sales, Marketing, and Operations
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Insurtech

LivWell leverages advanced segmentation to drive higher conversion and product adoption

Springwood helped LivWell to increase utilization of their marketing automation tool - MoEngage, & execute growth strategies resulting in higher engagement by creating a product adoption framework

LivWell Asia, a blockchain-based Gamified Insurtech & health engagement application, provides low-cost bite-size Health and Term Insurance in Vietnam and India aimed towards Gen-Z.

In order to build an effective wellness ecosystem and fitness rewards platform, it was imperative for LivWell to understand the customers, their likes and dislikes, preferences, and affinities, to engage them better & further create a product adoption framework.

There was a need to add more layers of scientific analysis behind the campaigns.

The team at Springwood focused on keeping the customer at the center of all decision-making and accordingly ran customer-centric campaigns using MoEngage’s engagement platform.

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Springwood helped LivWell in creating customer cohorts based on recency and frequency of usage with a focus on potential loyalists, loyal customers, hibernating, promising, needs attention, about to sleep, can’t lose, and recent users and then perform targeted A/B experiments for these advanced customer segments.

For example - Campaigns around insurance upsells were sent to potential loyalists and loyal customers, folks who are far more engaged as compared to other segments. Whereas heavy discounts and coupons were sent to hibernating users to win them back.


The event-triggered onboarding Flow had a conversion rate (CVR) of 53.27% (combined with Push & In-app), which is 2.5X higher than the industry benchmark


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Using these advanced customer segmentation strategies along with a robust feedback loop, LivWell was not only able to personalize the communication at every touchpoint and tailor it based on customers' actions, likes, preferences, location, and other attributes but also create multiple cross-channel workflows for each stage and string them together for a fully automated engagement workflow across the entire lifecycle.

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