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Source:  JD Powers and Associates and Harris Interactive

Policy Holders’ Push for Change Is Driving the Need for Advanced Data and Analytics

Consumer expectations continue to rise in the insurance business. Brand loyalty is quickly becoming a thing of the past. More than 66% of customers who purchased insurance in the last year received an online quote. Data and analytics hold the keys to consumer engagement and retention in this social media world.

With Clarity Services, insurers are making huge strides in their top strategic initiatives:

  • Digital Strategy –  embracing innovative strategies, product development and omni-channel approach to generate new revenue streams, profitable customer acquisition and loyalty
  • Modernization and Transformation – driving transformation across the insurance value chain to reduce data proliferation and enhance customer experience
  • Customer Experience Management – leveraging 720-customer view to predict behaviors and understand preferences in order to deliver the right message, channel and experience
  • Claims and Underwriting Optimization – improving analytic models for accurate risk pricing, reserving and claims forecasting, fraud detection and shortened claims cycles
  • Distribution Channel Performance – growing the distribution channels through better understanding of agent behavior, producer effectiveness and agent interactions
  • Multi-Channel Marketing Measurement – increasing multi-channel conversion rates with improved segmentation and attribution while driving down acquisition costs

Learn More About Our Clients’ Success

  • Multi-Year Strategy Aligns to Analytic Priorities - The Challenge: This large personal and business insurance client engaged Clarity on an enterprise-wide business-transformation initiative to replace core policy administration and billing systems, while expanding and evolving its Business Intelligence (BI) environment to enable true business analytics capabilities. The...
  • Measuring & Improving Marketing Effectiveness - The Challenge: A large financial services and insurance company needed to better understand marketing effectiveness and customer behavior. The client had no way to measure the effectiveness of targeted, multi-channel integrated marketing campaigns (web, face-to-face, mobile platform, social media, outbound...
  • Transforming to a Customer-Centric Business Model - The Challenge: This Life and Annuities client was challenged to transform from a price/product model to a customer-centric model to better serve both customers and agents. The Solution: Clarity partnered with this client to design and implement a program to...
View All Case Studies

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