die Bayerische – Plusrente

The insurance group die Bayerische is a group of companies based in Munich-Neuperlach that operates throughout Germany. The Group’s total premium income amounts to more than EUR 600 million and the management of investments totals over EUR 4.8 billion.

The challenge

In order to counteract declining acquisition figures and a high degree of interchangeability in the area of old-age provision, Bayerische planned a concept for an old-age provision product that would stand out from the competition and generate new customers in a challenging market environment. A particularly exciting challenge was the objective of also appealing to young customers with the pension product in order to guarantee the longevity of the product.

Mehrwerk’s strategy: Plusrente – retirement provision with cashback benefits

Together with the insurance group die Bayerische, Mehrwerk developed an innovative pension product which, in combination with a cashback program, generates lasting added value: 1,300 online stores and partner programs with attractive rebates were the decisive piece of the puzzle in the success model of plusrente. The earned customer cashback is automatically paid into the savings account and earns interest – shopping for your pension.

The result

plusrente was launched in October 2013 and had already recorded a four-digit number of registrations by the middle of 2017 and now has a five-digit number of active users on the market. Over 60,000 transactions in 2019, with confirmed earnings of more than EUR 170,000, speak for the cashback system. In addition, customers can use the plusrente offers to take advantage of local services and products from cooperation partners. New strategic approaches to further increase sales are being implemented on an ongoing basis.

At a glance

Campaign

Acquiring new customers through “shopping for retirement”

Industry

Bank

Core product

Retirement provision

Services

Online refund

Goals

New customer acquisition

Product differentiation