The insurance business faces some of the highest customer acquisition costs of any industry. As competition increases, underwriting costs continue to soar—and optimized targeting is required to keep acquisition costs low. By building analytics into your acquisition processes, you can target the right customers with the right policies at the right time.
Customer acquisition solutions from SPSS minimize your acquisition costs through predictive analytics, enabling you to focus your customer attraction strategy on winning the prospects most likely to respond and become profitable customers. For example, our solutions for insurers empower you to:
SPSS customer acquisition solutions for insurance also enhance your investment in existing systems—integrating seamlessly with data warehouses and key applications for customer acquisition, such as campaign management and call center technology.
--------------------------------------------------------------------------------------------- Corona Direct uses SPSS predictive analytics to transform acquisition campaigns into profitable efforts—first-year revenues cover campaign costs. By automatically identifying the prospects most likely to respond to a campaign, and performing sophisticated profit-cost analysis, the insurer balances customer acquisition goals against profit margins. The insurer reduced campaign costs by 30 percent and increased long-term customer profitability by 20 percent. Corona Direct even recouped the cost of their implementation within six months.
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Contact SPSS sales to learn how predictive analytics can deliver rapid return on investment for your organization.
