CASE STUDY

Quantzig’s Marketing Analytics Solution Helps an Insurance Company Develop a Predictive Model Based on a Combination of Variables

Apr 2, 2018

The Business Challenge

The client, a leading player in the insurance industry, approached our team of experts to help them devise effective marketing analytic strategies. They also wanted to leverage marketing analytics solutions to gain a full view of their customers across channels. The insurance company was also looking at implementing marketing analytics to anticipate customer and market behavior and respond proactively to their needs. Additionally, they wanted to gain valuable insights to implement better strategies to address and serve their target audience.

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Solution Delivered

Our solutions helped the insurance company in combining speed with intelligence to gain a stronger foothold in the insurance sector. It also assisted them in predicting their customer’s responses to various offers and develop targeted marketing strategies. Moreover, our marketing analytics solution allowed the insurance company to tailor the content, timing, and delivery channel of offers to meet the preferences of customers. Also, it helped them build better products based on market expectations and brought about business growth.

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Marketing Analytics Solution Predictive Insights

Deciding whether or not your company needs to implement an effective marketing analytics platform calls for the same evaluation steps involved in software adoption. It includes a comprehensive analysis of your organization’s management capabilities, business needs, and financial resources. Marketing analytics helps in measuring, analyzing, and managing market performance to optimize return on investment (ROI) and maximize business efficiency. Also, beyond the apparent sales and lead generation applications, marketing analytics can offer profound insights into customer preferences and trends.

It also helps insurance companies in identifying the target customers and accordingly design the right marketing campaigns to suit different customer segments. Also, our insurance industry clients partner with us to optimize customer experience across channels, with a goal of refining their wallet share, customer loyalty, and lifetime value.

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Insurance Industry Overview

Over the past few decades, the insurance industry has gone through a tremendous change as a result of deregulation, globalization, and terrorist attacks. However, the improved economic outlook is expected to fuel the growth of the global insurance industry in the coming years.

As technology brings about rapid innovations, higher end-user expectations, and other such disruptions in the insurance industry, the insurers have to focus on improving their bottom-line profitability, top-line sales, and effectively address challenges to sustain themselves in a dynamic marketplace. Several factors have to be considered when it comes to insurance, and both the investors and consumers should concern themselves with the insurer’s ability and financial capability to meet ongoing obligations to policyholders.

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