Brazil's Largest Benefits Administrator Doubled 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, Insurance
Registration: Brazil
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 Lead Qualification Cognitive Engine, utilizing advanced Artificial Intelligence & Machine Learning techniques.
Through a Lead Scoring and Propensity algorithm, 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, purchasing behavior, and interactions with the company.
The result was used in the second model, Lead Recommendation, where a match was made between brokers and potential clients.
Thus, we developed a ranking among brokers, with a higher propensity for sales, according to their sales and service characteristics, as well as their availability, maintaining fair play among brokers to ensure more balanced service.
Results
6.7% – Conversion rate of leads that went through the model.