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CROSS SELLING INSURANCE INTELLIGENTLY


Cross Sell analytics to sell the right product to the right customer at the right time.

Knowing where a customer is in his/her lifestage is critical for insurers to cross-sell and up-sell correctly. Cross-sell analytics plays a critical role in bringing out insights that may be hidden in customers' transactional and interaction history.

WHY IS UPSELLING/ CROSS-SELLING INSURANCE SO TOUGH?

Customers buy an insurance product only when they need it. So it is critical for insurers to know where exactly a customer is in his lifestage, and anticipate the needs at that stage. Most insurers try to sell everything to every customer all the time. This not only interferes with the overall customer experience but also leads to missed opportunities.

HELPING YOU CROSS SELL AND UPSELL BETTER

What a lot of insurance companies don't realise is that they already have enough data to help them make smarter decisions. Unfortunately that data lies in multiple systems and is completely siloed. Analytics leveraged over this big data sets can cut through the clutter and build useful inter-relationships and correlations, that help cross selling insurance products and services easier.

CRUX FOR EFFECTIVE UPSELL/ CROSS SELL ANALYTICS

CRUX tells you more. By leveraging deep text analytics on the customer data, CRUX is able to build a comprehensive customer journey - right from the time they become a part of the insurers ecosystem, up to the time they exit. CRUX makes it possible to define specific performance indicators as well as customer specific cross sell or upsell opportunities at that point in time. Using this intelligence in real time, front line decision makers can be better equipped with cross selling insurance products and services to an individual customer, as well as a larger household.

CRUX helps insurers cross sell 80% better and four times more accurately by leveraging predictive analytics and machine learning. It's unique algorithms identify products with highest probability of purchase which helps cross selling insurance products more accurately.




Resources


Aureus Cross And Upsell Strategies

What is Unsupervised Learning?

Read More

Banking Strategies-Aureus

What can Big Data do for ME?

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