Insurance

Support your agents and spin up your sales by adding analytics to CRM

Several trends have been present in the insurance market that force CRM departments to take a closer look at proactive direct communication and extending knowledge about the customers. The most important are:

• development of direct and interactive channels (sales as well as service functions)
• growing bank-assurance services - insurance companies more and more often open their own banks and sell banking products to policy holders
• stress on cross-selling between a range of insurance products
• more product variants in companies' portfolios
• agents' rotation

Questions remain unchanged: what and when should be offered to a client to not to waste time and money on both sides. Until recently it was up to agent and his notepad to decide. Although this channel of sales and customer care is still vital, a need for consistent and centralized information about a client forces companies to invest vast amount of money in Business Intelligence systems, analytical CRMs and data warehouses.

How can we help?

Effective client acquisition
How to select between Polish list suppliers? How to plan a test strategy? What will be the cost of sales? How much can one spend for client acquisition, knowing the churn rates and estimated Life Time Value (LTV)?

Segmentation
How to separate meaningful segments differing with respect to current value but also future potential? How to link insights from market research with transactional data? How to extend knowledge about segments? Which groups are most likely to use direct channels? Are there consistent patterns specific for high-risk clients?

Cross-selling
How to lift the percentage of clients who have opted-in for marketing communication? What is the current cross-sell level and what determines it? Which products could be interesting for Mr Jones, considering that he will soon turn 40 and already owns an auto-casco insurance dedicated to new cars?

Agent workforce management
How to set the sales targets proportionally to the sales territory potential? What is the geographical spread of current sales? Which local variables positively affect sales? In which regions/ cities there is still space for growth?