Insurer Drives 50% Increase in Match Rates, 28% ROMI

Company Overview

A leading global insurance organization provides a wide range of property casualty insurance, life insurance, retirement products and financial services to customers worldwide. Embarked on a strategic initiative to transform commercial insurance through digital technologies and data analytics.

Challenges + Goals

A traditional reliance on financial services partners for marketing outreach led to customer retention challenges, which were exacerbated by fragmented, disparate data sources that prevented true insight into customers and their behaviors. This complex environment made it difficult to sell directly to customers, to manage customer relationships, or to optimize marketing spend.

To resolve these challenges, the insurer knew that it had to integrate data from hundreds of sources to provide visibility into marketing performance. A single customer view would offer the insurer immense opportunities for a return on its marketing investment.

Winning Solution

Using Redpoint, the insurer integrated more than 450 weekly data feeds into a comprehensive single customer view that is accessible in real-time from anywhere across the enterprise. The platform delivers a closed loop, multi-channel marketing platform that integrates all customer touchpoints and accurately matches customers from multiple data sources.

With a much deeper understanding of its customers, the insurer now knows which ones are at the greatest risk of attrition. Rather than having to rely on 240 difficult-to-maintain and offline spreadsheets to predict lapse curves, the Redpoint platform enabled the insurer to automate the entire process of data capture and analysis including automated lapse curve generation. Using Redpoint, the insurer developed its first direct-to-consumer marketing program that included multi-dimensional lead generation and segmented retention efforts.