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Applied behavioural economics

All projects

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    Payments strategy puts Mauritian firm in the swim

    Genesis was asked to develop a payments strategy for a consumer finance company in Mauritius. The assignment was guided by the client's goal of becoming a major payments player in the Mauritian market.

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    Using behavioural economics to increase headline earnings

    Genesis Analytics was commissioned to deliver additional headline earnings to a financial institution over a period of three years. The team has implemented two projects to achieve this target.

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    Exiting a lockdown: A balancing act of lives and livelihoods

    A public-private convening body asked Genesis for advisory work to support Presidential decision-making in South Africa on how to unlock the economy responsibly – which parts, which sectors, how to balance lives with livelihoods?

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    Enhancing end-to-end customer journey on sale of Saudi home mortgages

    A large Saudi Arabian mortgage financing company commissioned Genesis to help enhance its customer value proposition (CVP) in an innovative, digitally driven approach to issuing mortgage loans to borrowers.

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    Behavioural campaigns lift loans response rates by 102%

    A large financial institution approached the Applied Behavioural Economics (ABE) team to increase the response rates for one of its financial services campaigns. Behavioural economics principles were successfully applied to optimise various existing customer communication channels throughout the personal loan take-up/uptake journey.

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    Taking applied behavioural economics online for retail shopping

    Genesis Analytics’ Applied Behavioural Economics (ABE) team was retained to apply behavioural economics to a retailer’s online rewards platform as it shifted from the traditional bricks-and-mortar business to its redesigned e-commerce platform.

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    Assisting to build internal behavioural economics capability

    Based on a series of exceptionally successful projects with a major financial services provider over the past five years, the Applied Behavioural Economics (ABE) team has been working closely with stakeholders to continue achieving this success on a larger scale by establishing and guiding an internal behavioural economics capability.

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    Behavioural economics boosts annual premiums by 60%

    The Applied Behavioural Economics team was commissioned to improve the conversion rates and the premiums collected for an asset manager’s retirement-product campaigns. The campaigns sought to migrate customers from old-generation products to new ones, while also increasing monthly premium contributions.

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    Building behavioural economics capability and project support

    Genesis Analytics worked to establish an internal behavioural economics capability for a major financial service provider.

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    Behavioural experiment validates new financial product

    Genesis Analytics was commissioned to determine whether a pivotal new product would function by using a robust behavioural experiment. The experimental approach was key because focus groups and surveys could not adequately capture the experience of using the client’s product.

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    Value of behavioural economics proven in bank pilot

    Over the course of three months, we showcased the value of behavioural economics in a large South African bank resulting in a campaign performance improvement ranging between 31% and 100%.

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    Pilot decreases disinvestment outflows by 43%

    With a focus on retention, Genesis worked with a large international investment company to decrease outflows across the disinvestment value chain using the principles of behavioural economics. 

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    Building internal behavioural economics capacity

    Based on a series of successful projects, over the course of 2017, Genesis Analytics worked with a large, long-term client to help establish an internal behavioural economics capability. 

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    Improving the onboarding of customers

    Genesis was retained by a multimedia conglomerate to assist in changing customer behaviour using the principles of behavioural economics.

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    Leveraging behavioural insights to step-change sales

    Genesis Analytics showcased the value in using behavioural economics with insights from data science to increase short-term insurance sales. The outcome was an increase in sales of between 89% and 100%.

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    New way to manage difficult conversations with clients

    The Applied Behavioural Economics team was asked to assist a client in managing difficult conversations

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    Helping customers avoid too much debt, profitably

    A long-term client approached the Applied Behavioural Economics team at Genesis-Analytics to help promote uptake of its debt-management proposition, resulting in a 14-fold improvement in sales.

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    Nudging South Africans to save for their retirement

    Genesis Analytics worked with a global insurance provider’s outbound call centre to encourage more South Africans to save adequately for retirement by avoiding early withdrawals.

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    Nudging customers into branches to increase sales

    A large South African retail financial services provider retained Genesis Analytics to assist with meeting its branch foot traffic and sales objectives by using behavioural insights.

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    Nudging customers to use more cards and less cash

    The Applied Behavioural Economics team assisted an international merchant bank in building a rigorous, research-supported, behavioural change framework for increasing bank card use as a payment instrument among South African consumers. 

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    Building internal behavioural team at large European bank

    Genesis was commissioned to build a fully functional internal behavioural economics capability in a large European bank.

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    Improving retention and retirement decision-making

    A large global insurer commissioned the Applied Behavioural Economics team to redesign its client-facing documents, resulting in better customer decision-making and large increases in retention rates.

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    Real-time system to update customer information for major FSP

    Genesis Analytics assisted in the development and assessment of a new, face-to-face, system-driven, financial advice process that involved real-time information updating on customers. This involved a rigorous behavioural approach to testing and analysing the impact on market perceptions.

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