Purchase Protect

An opportunity was identified to offer FNB customers complimentary insurance when using their FNB Virtual Card (a card housed on the FNB App with a CVV which changes hourly thus ensuring safety when shopping online), giving customers more comfort when transacting within the ecosystem and driving utilisation of the virtual card. In addition to this customers were made aware of FNB’s new entrance into Property and Casualty insurance where they can buy additional insurance on the back of these contextual interactions.

Transactional data is used to determine which customers qualify for the product and which purchases were relevant to only offer the product for relevant transactions.

The spend data for different cards sit on different databases where all the transactions were grouped via SAS. Different analysis methods were used to identify which vendors fall into which spend categories to only offer the product on qualifying categories e.g. exclude services or groceries.

Qualifying customers were then sent a notification via the FNB App letting them know that their purchase is covered for 30 days. These customers were then encouraged to make further use of the Virtual Card and were put into upsell campaigns for insurance.