EMPLOYEE INCENTIVES
LEADING INSURANCE CARRIER SEES 35X ROI
By Engaging Agents With Experiences Instead of Cash
Leading auto and home insurer gained top line revenue and saved commission costs by leveraging unique experiences for book of business commitments.
CHALLENGES
- The company also desired to save on costs relative to typical cash payments for premium commitments.
- Traditionally, insurance carriers are very competitive. Often, carriers host agents at events to drive interest. The team at Imagine Experience aimed to significantly boost this type of engagement for Plymouth Rock.
SOLUTION
- Plymouth Rock selected high quality insurance agents to travel to London to embark on culturally-immersive activities, including a classic Mini Cooper tour, private tour of London from a retired Royal Guardsman, private lunch and etiquette training with Prince Charles’ former butler, and dinner at a private club atop the Gherkin building.
RESULTS
- Neary $20M in top-line revenue and commitments over 24 months at significantly reduced acquisition cost.
- Actual savings of approximately $1M over cash payments.
Plymouth Rock (a large financial services corporation that provides a suite of insurance products) was looking to move the needle with insurance agency owners. The company also desired to save on costs relative to writing checks for commitments and secure market share in new territories. Traditionally, insurance carriers are very competitive (primarily when they rely on independent agencies to sell their premiums), often utilizing sponsorship deals with sports organizations and host agents at sporting events to drive interest.
The Imagine Experience team aimed to level up this engagement for Plymouth Rock and created two experiences to provide exclusive, once-in-a-lifetime engagements for agents.
Plymouth Rock’s selected insurance agents traveled to London to embark on culturally-immersive activities including:
Culturally-Immersive Activities:
- A classic Mini Cooper tour
- A private tour of London from a retired Royal Guardsman
- A private lunch and etiquette training with Prince Charles’ former butler
- Dinner at a private club atop the Gherkin building
Sports Related Activities:
- Behind the plate seats at Major League Baseball’s first games in London (Red Sox versus Yankees)
- Top flight pre-match entertainment and Centre Court seats for opening day of Wimbledon
- Played golf at Royal Saint Georges (a British Open host course)
- Additionally included were private dinners with Yankees legend Bucky Dent, 1998 Wimbledon Champion Richard Krajicek, and PGA Tour champion Colin Montgomerie
Imagine Experience is a team of creators and memory makers who design and produce immersive, unforgettable events for some of the world’s most beloved brands.
INDUSTRY ASSOCIATIONS
