High increase of subscriptions
For nearly 20 year mySafety Försäkringar have helped their customers solve serious and acute problems related to blocking, tracking and protecting everything related to ID-documents and mobile phones, and help when accidents like fire and water damage happens. In 2012 mySafety faced a number of challenges and reached out to Arvato for help. Together they developed a solution to make payment processes smoother, with new flexible invoicing options. This solution sparked a high increase of subscriptions.
mySafety started their business in 1999 and is a market leader within ID-protection and security in Norway, Sweden, Finland, Poland, Russia and Ukraine. With a high income from subscriptions in 2012 they saw that their payment solution for subscriptions demanded that customers had to pay for the total subscription period. This meant a high cost for their clients.
This also made sales focus too much on signing new clients instead of focusing on the existing ones. The sporadic periods of cash flows during the year also had a negative impact on mySafetys' liquidity.
"Like other companies we weren't using flexible tools or systems, and changing this was a demanding time period for us. We saw an opportunity to outsource the payment solution to speed up the process of change", says PA Prabert, vice president of mySafety.
mySafety realised they had to make it easier for their customers to pay for their insurance, and they also needed to simplify ways for upselling. Arvato was the preferred partner to help mySafety in this process.
"We already had an existing partnership, so we knew Arvato had some of the solutions we needed. We were willing to partner up for the long haul to be able to develop the solutions that would make our payment processes successful. Arvato was a natural choice."
Our tailor made solution for mySafety
In stead of a yearly invoice, customers can choose to divide the total and pay monthly.
Several subscriptions - only one account
The new solution made it easier for mySafety to offer other services and subscriptions to exisiting clients, without the clients receiving mroe invoices.
A successful solution
We were happy to see the results from our joint solution so fast. In only four years we have seen a significant increase in customers and subscriptions. Thanks to the easy and improved payment process our clients could choose to pay their subscriptions in their own pace, instead of having to pay it all at once. This contributed to allowing us to successfully keep our existing customers, but also attract many new customers. Customer service has freed up time to do more upsales, resulting in many customers using more of our services than they did before.
After we outsourced the payment process to Arvato, the number of debt collection cases has decreased drastically.