Property & Casualty Insurance
Customer Analytics and Marketing powered by advanced AI platform for Personal Lines Insurance
How Data Analytics Convert Insurance Prospects To Customers
Customer acquisition cost (CAC) is one of the major expenses for any enterprise, including insurance carriers. The average expense of an organization to acquire a new customer is five times more than to retain an existing customer. Today’s insurance carriers must focus on customer retention as well as acquisition. However, while about 44% of organizations dedicate themselves to the acquisition, only 18% pay attention to retention initiatives.
Digitally Transforming the P&C Insurance Industry
Customer acquisition cost in P&C insurance is at least 40% higher than any other industry. With changing customer expectations and evolving market space, insurers need to deliver tailored offerings by predicting customer needs accurately. Customer acquisition is expensive; therefore, losing an existing customer is an unacceptable cost. The solution lies in leveraging insurance data to drive new customer acquisition and customer retention. Saama Analytics’ advanced AI platform reduces customer churn, boosts policy renewal rate, and increases cross-sell and upsell up to 4 times.
Success with New Customers Acquisition
Increased Customer Retention
Lower Customer Acqusition Cost
Insurance Customer Acquisition, Augmentation, and Marketing for Personal lines
ICAAM is an API-driven, AI powered platform for proliferating customer acquisition, augmentation through proficient marketing analytics & actionable insights.
Enables insurers to drive business growth with:
- Measurable Policy Renewal Probability
- Increased Cross/Up-Sell Propensity
- Most Cost-effective Package Recommendation
- Effective Customer Segmentation for Enhanced Marketing Strategy
Insurance Data & Analytics Platform
An encapsulated data & analytics platform focused on digital transformation & providing relentless enablement of user experience through self-service analytics for P&C Insurers.
Enables Self-service Analytics with:
- Pre-defined Algorithms for Predictive Analytics
- Advanced Self-serve Reporting Capabilities
- API-based Data Consumption Interface
- Configurable for Various Personas