Creating New Opportunities for the Insurance Industry

BACKGROUND: A major U.S. Insurance Provider sought to expand its client base by marketing its products to the customers of partner financial institutions.  For regulatory reasons, the insurance company needed to engage with Allant Group as a 3rd party processor. Additionally, they wanted to utilize Allant Group’s analytic and strategic expertise to manage their target marketing efforts more efficiently.

CHALLENGE: Customers are less engaged and somewhat unresponsive to marketing messages. It is hard to leverage current customer base because they only need you when they need you. If keeping clients is important, then keeping them engaged on their terms needs to be a priority.

Insurance companies have a huge amount of data that creates new opportunities. This data can uncover who their best customer is and what segmentation is most profitable. Leveraging this data and using it to market, retain and grow is the challenge.

APPROACH:

• Align data to maximize insights and reporting
• Enhance the knowledge of customers through customer profiling to target new markets and opportunities
• Develop effective response models to predict prospects most likely to purchase and retain insurance products
• Utilize Allant Group’s OneTouch Data Hub to integrate multiple client and suppression files together for reaching targeted consumer and businesses with applicable offers and for upsell / cross sell

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