Producer’s Book Of Business
Data modeling to quantify the quality and sustainability of producer’s book of business
A Producer’s book of business is his most valuable professional asset. Yet, the ongoing opportunities that lie within it often go undisturbed, as producers tend to focus on prospecting for new clients and paying extra attention to their biggest clients. After all without assistance of analytics, it would require a great deal of time and effort by the producer or his staff to keep track of what’s going on with every client in a book of business. xtLytics provides insurers and producers with the tools to quantify the quality and sustainability of their book of business -- to identify opportunities that benefit the client and often the producer. This Analytic tool, by mining producer’s in--force business generates a flow of opportunities that lowers costs for clients, scraps inefficient policies and improves producer commissions. The software can scrutinize each individual policy and compare it to every available alternative, generating a proprietary report the producer can present to the client, who will usually act on the recommendation because it either saves him money or enhances his coverage. Insurers, using predictive modeling can group producers into simple classifications based on the quality and sustainability of their book of business and align sales activities and marketing campaigns with “higher--value” segments and the at--risk group of producers.