The Impact of Auto Prefill on Insurance Conversion Rates

Conversion rates are a key metric for success. When customers abandon quotes due to inefficiencies in the process, insurers face lost revenue and increased acquisition costs. Research shows that reducing friction in the application process can lead to significant improvements in conversion rates.

Fenris Auto Prefill plays a pivotal role in optimizing conversion rates by providing insurers with instant, accurate, and actionable data. By removing manual entry barriers and improving data accuracy, Fenris helps insurers convert more leads into policies, ultimately driving profitability.

Case Study: From 15% to 70% Completion Rates

A leading insurance provider struggled with high quote abandonment rates, completing only 15% of initiated applications. After integrating Fenris Auto Prefill, their completion rate soared to 70%. The impact was immediate:

• Customers and agents no longer had to manually enter tedious details
• The quoting process became seamless, leading to more closed deals
• Successful bundling of home and auto reduced CAC and improved retention

Cost Efficiency Through Usage-Based Pricing

Fenris’s usage-based pricing model offers insurers flexibility and scalability. Instead of paying to license a broad database with hundreds of millions of data features, insurers pay for only what they use, allowing for greater efficiency in underwriting and marketing.

Additional cost benefits include:

Lower Acquisition Costs

Reducing manual labor and inefficiencies translates to lower operational expenses.

Higher Policy Bind Rates

More accurate quotes lead to fewer discrepancies and policy rejections.

Greater Profitability

Higher conversion rates result in better return on investment (ROI).

Customer Testimonials

Insurance professionals using Fenris Auto Prefill report:

• Faster application completion improving customer satisfaction.
• Increased agent efficiency allowing them to focus on closing deals rather than data entry.
• Higher revenue as more accurate data leads to better fit policies.

Conclusion

Fenris Auto Prefill is a game-changer for insurance conversion rates. By eliminating unnecessary friction, prepopulating accurate data, and streamlining workflows, insurers can maximize policy completions and revenue growth.

If you’re ready to boost your conversion rates, it’s time to integrate Fenris Auto Prefill into your workflow.