Retaining policyholders is an ever-present concern within the insurance industry. The IBM Behavior Based Customer Insight for Insurance Solution uses analytics to create strategies that can help insurers anticipate and reduce churn.
Like any services industry, insurance companies achieve successful outcomes by building customer loyalty and trust. Advanced data and analytics help insurance companies develop retention by gaining key insight into policyholder behaviors, needs and preferences.
Customer churn and fraudulent claims in today’s insurance industry can translate to losses for providers. Insurance organizations can stay one step ahead by deploying predictive analytics to determine future outcomes.
No one wants to be in a position to submit an insurance claim, but customers that maintain adequate insurance for their property and possessions have every reason to expect a rapid claim resolution process. Predictive analytics can help insurers stay in tune with their policyholders by responding
Creating and maintaining an adaptive organization is well within reach through advanced analytics and innovation, and the right analytics solutions can help businesses transform data-driven insight into actual value without the nightmares from shifting market conditions and information overload.
Do you know what your policyholders need, or are you taking a gamble and hoping that you are offering them the right products and services at the right times? Play this video game, and see if you can anticipate what is on the minds of these insurance customers.
Customer-centric organizations are reaping the rewards of the focused attention they are giving their customers. Discover eight rewards for giving customers a superior customer experience in this insurance example.
Mobile computing is on the rise, and mobile document capture is the next logical step for organizations in document-intensive fields such as banking, insurance, government, healthcare and education. Mobile document capture allows employees and customers to capture documents from their point of
Existing customers are worth retaining. Organizations have the ability to cross-sell and up-sell to their existing customers, which is why these organizations must keep in mind a customer’s lifetime value.
Doing the math applies to just about every aspect of life. But love it or hate it, mathematics in the form of analytics and statistics offers a path to valuable insight that can enhance business value.