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  • Meloche Mennox Case Group 4

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    Nitish Gupta
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    This document discusses Meloche Monnex, a Canadian home and auto insurance company. It provides a history of the company, which was founded in 1949 and expanded across Canada before being acquired. It discusses the insurance industry and Meloche Monnex's focus on property and casualty lines. The company targets affinity groups through direct marketing campaigns involving telemarketing and direct mail. The document recommends replacing direct mail with lower-cost email marketing and focusing advertising on competitive pricing for affinity groups.

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    This document discusses Meloche Monnex, a Canadian home and auto insurance company. It provides a history of the company, which was founded in 1949 and expanded across Canada before being acquired. It discusses the insurance industry and Meloche Monnex's focus on property and casualty lines. The company targets affinity groups through direct marketing campaigns involving telemarketing and direct mail. The document recommends replacing direct mail with lower-cost email marketing and focusing advertising on competitive pricing for affinity groups.

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    © All Rights Reserved
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    Download as pptx, pdf, or txt
    33 views9 pages

    Meloche Mennox Case Group 4

    Uploaded by

    Nitish Gupta
    This document discusses Meloche Monnex, a Canadian home and auto insurance company. It provides a history of the company, which was founded in 1949 and expanded across Canada before being acquired. It discusses the insurance industry and Meloche Monnex's focus on property and casualty lines. The company targets affinity groups through direct marketing campaigns involving telemarketing and direct mail. The document recommends replacing direct mail with lower-cost email marketing and focusing advertising on competitive pricing for affinity groups.

    Copyright:

    © All Rights Reserved
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    of 9

    CASE:

    MELOCHE
    MENNOX SUBMITTED BY-
    NITISH GUPTA
    ROHIT KHARBANDA
    RADHIKA GOYAL
    GOURAV MUNDHRA
    PUSHKAL MISHRA
    SAURABH GUPTA
    History
    Company was founded in Montreal in 1949
    Producer and direct marketer of home and car
    insurance policies mostly targeting affinity groups
    Expanded its office across Canada
    Acquired by canada trust company in 1997
    Became part of TD financial group in 2000
    Mentioned as one of the fastest growing
    subsidiaries of TD bank
    Industry & Meloche
    Monnex
    Insurance industry Life & Non life (P&C)
    Meloche Monnex specialised in P&C lines
    Home insurance market - $4.3 bn
    Auto insurance market - $10.4 bn
    Meloche Monnex with 4.3% market share in P&C
    lines and ranked 9th among P&C lines
    Market for personal lines 20%( direct distribution
    channels), 17.2% (exclusive agents),
    62.8%(multibrand brokers)
    Meloche Monnex targeted groups rather than
    individuals
    Industry & Meloche
    Monnex
    Meloche monnex focussed on affinity groups
    Meloche monnex specialized in relatively affluent
    group (eg university alumni)
    Insurance premium at MM was 10-20% higher than
    the industry
    Marketing at Meloche
    Monnex
    Alumni associations accounted for 40% of the
    affinity partners
    Inhouse telemarketing operations
    Below 10% penetration in alumni asspciation
    Sources of customer

    Customer Acquisition

    Spontaneous inbound
    calls
    Internet

    Outbound campaign
    Seven stage campaign
    Annual planning- Allocation of resources across
    affinity groups
    List acquisition- database of prospects between 25-
    55 age
    Campaign preparation- Focused print ad
    campaign and preparation for direct mail
    Direct Mail percentage of prospects responding
    with their expiry dates 1-2%
    Telemarketing- Call prospects in order to obtain
    policy expiry dates
    Campaign analysis
    Follow up sales 15-30% closing rate compared to
    30-60% in inbound calls
    THREE CHANGES
    EMAIL - Cost of email $0,60 ,prospect can
    respond much more easily
    CAR PRIZE Lure the prospects to give their expiry
    dates by offering them entry in a sweepstakes
    contest
    ADVERTISING PRICE COMPETITIVENESS
    Consumers placed price at top of their choice
    criteria
    Recommendations
    We recommend Email instead of direct mail
    because of cost benefits ($0.6 vs $1.5)and prompt
    response from prospect
    Conversion rate via email (37%) was better than
    direct mail (31%)
    We should not go for sweepstake program as its
    a deviation from the strategy of MM. They should
    focus on the services and costs to maintain the
    same connect with affinity groups
    Meloche Monnex can advertise price
    competitiveness through preferred group rates
    and stick to affinity groups
    THANK YOU

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