Plymouth Rock 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 writing checks for commitments and secure market share in new territories.

  • Traditionally, insurance carriers are very competitive. Carriers traditionally introduce sponsorship deals with sports organizations and host agents at sporting events to drive interest. The team at Imagine Experience aimed to significantly up-level this type of engagement for Plymouth Rock.

Solution

  • Plymouth Rock’s top-performing insurance agents traveled 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:

  • $19.1mm in top-line revenue commitments over 24 months

  • Low acquisition cost of 2.9%

  • Actual savings of $975k - $1.35mm based on paying 8% commission for same revenue commitments

  • 2.8% gain in market share across 4 states (MA, NY, PA, NJ)

Plymouth Rock, a large financial services corporation providing 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, especially when they rely on independent agencies to sell their premiums. Carriers often utilize sponsorship deals with sports organizations and host agents at sporting events to drive interest. The team at Imagine Experience aimed to significantly up-level this type of engagement for Plymouth Rock.

 

Imagine created two experiences to provide exclusive, once-in-a-lifetime engagements for agents. For the first experience, agent guests were given VIP access during The Masters Tournament, including a private dinner with a golf legend, before returning to play a round of golf at the most exclusive members-only private golf club in the world. 

 

For the second experience, Plymouth Rock’s top-performing insurance agents traveled 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. In the following days, agents were also granted exclusive access to three major events: Major League Baseball’s first games in London, the Wimbledon Championships, and the Open Championship, accompanied by private dinners with Yankees legend Bucky Dent, 1998 Wimbledon Champion Richard Krajicek, and PGA Tour champion Colin Montgomerie.  

 

These exclusive experiences successfully provided Plymouth sales teams with the opportunity to break through the overcrowded insurance industry, fortify relationships with agents, and close new business.

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