Predictive modeling to forecast how easy/difficult is for producers to sell groups of insurance policies considering demographics and prevailing economic conditions by territory
Most insurers sell more than one product line, and as the producers increase the breadth of products they sell from a provider, they become “stickier”. They sell more, they have higher account values, and they have a longer tenure with the provider. Understanding the prevailing economic conditions by territory lets insurers tailor specific cross--sell offers. Producers can script different contact scenarios based on their value, their propensity to buy, their propensity to pay and their propensity to lapse. Analytics helps reducing wholesaler turnover by providing wholesalers with more qualified leads, improves productivity ensuring the optimization of marketing dollars. Growth Analytics reduces product suitability risk by positioning the right product with the right consumer. xtLytics predictive models developed for customer retention efforts can identify customer transactions as a predictive triggering event and used the event to automatically generate a follow--up interaction with the client when the event was triggered.
Sample screen captures from our software.