How Brazil's largest benefits administrator doubled its lead conversion rate with Data Science & Artificial Intelligence
About the Company
It is the largest benefits administrator in Brazil and provides access to quality healthcare for millions of Brazilians. Founded in 1997, it has over 1,700 employees and represents more than 4.5 million clients or beneficiaries.
Size: Large
Segment: Health
Registration: Brazil
Solution: Solution: Lead Qualification Cognitive Engine
Challenge
Identify which leads are most likely to convert, the so-called “hot leads,” based on a score.
Distribute these “hot leads” among brokers with similar profiles (match).
Solution
Lumini was responsible for developing a Cognitive Lead Qualification Engine, utilizing advanced Artificial Intelligence & Machine Learning techniques.
Through an algorithm Lead Scoring and Propensity, we calculate the individual conversion probability for each lead.
This algorithm is used to assign a score to potential customers (leads) based on their probability of being converted into sales. It is developed using historical sales data and information about the leads, such as their demographic characteristics, purchase behavior, and interactions with the company.
The result was used in the second model, the Lead Recommendation, where a match was made between brokers and potential clients.
Thus, we developed a ranking among brokers, with a higher propensity to sell, According to your sales and service characteristics, as well as your availability, maintaining fair play among brokers to ensure more balanced service.
Results
6.7% - Conversion rate of leads that went through the model.