Data at the core of insurers’ evolution
Data-driven innovations are reshaping the insurance industry, and forward-looking insurers aren’t just watching it happen. They are acting and making investments that will help them become more customer-centric, improve their pricing and create operational efficiencies.
Since 2015, Agilytic helps major insurance providers reach their goals through the power of analytics, going beyond the dashboard and towards proactive recommendations for a more efficient commercial performance management, enhanced customer experience and smarter HR practices.
Demonstrated experience in insurance
Insurance has been one of the most active sectors in the history of Agilytic, with successful projects spanning the entire customer experience and support activities.
To name a few…
Commercial performance, in B2C and B2B
- Boost the ROI of marketing campaigns, through smarter segmentation, attribution modelling
- Provide your sales force and your brokers with better leads, by scoring each individual prospect, and provide individualised products/services suggestions (see a B2B example).
- Increase the average revenue per client with “next best offers” recommendation models
Customer experience & loyalty
In a very competitive marketplace, insurers sell products that many consumers consider to be a commodity. Furthermore, most customers only subscribe to an insurance product every three to six years, yet expect high-end, personalised service.
- Prioritise your projects for maximum impact thanks to a clearer link between each initiative and its impact on loyalty
- Reach out to your “clients at risk” before they switch: identify soon enough who is most likely to cancel your policy, and set up proactive retention campaigns equipped with individual offers most likely to secure a continued business.
Risk and recovery
- Assess clearly the level of risk associated with each client’s situation through advanced risk modelling
- Improve the recovered amounts through a clearer understanding of your debts at risk and optimised recovery campaigns (also: how we tackled the “bad debt” problem in healthcare)
Pricing
Big data, the Internet of Things, and predictive data analysis tools are giving insurance companies an advanced and broad ability to design usage-based and other innovative pricing models. At the same time, new regulations, including Solvency II, are putting pressure on profitability
- Define your pricing strategy to mitigate the risk of claim occurrence : use advanced modelling and survival analyses techniques to identify which factors will increase your risk of claim and propagate that information along the value chain to shield you against bad surprises
- Set the optimal price for your services to increase your revenue while remaining attractive for customers in a highly competitive market
Human resources
- Avoid productivity bottlenecks by anticipating employee absenteeism
- Improve the efficiency of your retention and recruitment efforts by anticipating employee departures
Insights. Actions. Results.
With over 150 successful projects for more than 70 clients since 2015, Agilytic helps organisations reach their goals through the smarter use of data.
