Customers buy an insurance product only when they need it. So it is critical for insurers to know exactly where a customer is in their life stage, 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.
Many insurance companies don't realize 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 these big data sets can cut through the clutter and build useful inter-relationships and correlations, that help to make cross-selling insurance products and services easier.
CRUX for Effective Cross-Sell and Upsell AnalyticsCRUX 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 insurer's 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. Its unique algorithms identify products with the highest probability of purchase which helps cross-selling insurance products more accurately.
Click below to schedule a demo of how CRUX can help your organization improve upon cross-selling opportunities.
