Member Relationship Score
As Healthcare Insurance providers move into consumer oriented markets churn is expected to be higher
Healthcare Insurance providers move into consumer oriented markets where the churn is expected to be higher than in today’s market where healthcare coverage is mainly bought through employers. Big Data Analytics can be leveraged to score the quality of the relationship insurers have with their consumers. Score drive actions can lead to better retention, product up--sell, and brand affinity. Insurers can successfully monitoring “Customer Relationship Score” and enable data--driven retention marketing programs.
Marketers can work with large amounts of granular data to better understand customer demands, behaviors and preferences – targeting the precise audience with personalized communication streams and the right offers across every customer segments, tactics and channels. Customer Relationship Score empowers marketers to develop, test, manage and constantly improve a customer retention programs. Understanding attrition, every customer leaves for a reason, and understanding retention, learning about the customers who stay will enable insurers to develop models that can help predict customers who are at risk and react quicker with optimized campaigns and tactics.
xtLytics “Customer Relationship Score” helps marketing departments build highly specific segmentation on high volumes of customer data at unparalleled speed.
• Deliver highly personalized and relevant marketing programs with deep insights into large amounts of marketing--related data
• Recognize and react to constantly changing customer behavior and preferences with instant access to real--time marketing--related information
• Create Personalized Communications Streams
• Accelerate the business impact of marketing with fast analysis and simulations
• Reduce churn; improve understanding of the kinds of customers that stay
• Predicting attrition and retention
• Spend marketing dollars targeting prospects that are likely to stay