Delivering Personalized Customer Experiences with Earnix
Why should Insurers consider personalization strategies and tactics? Can’t they continue to price and deliver products and services in the same way they always have?
The simple answer is that Personalization has the potential to deliver superior results. For example, early personalization programs have already shown they can increase total sales, improve customer engagement and loyalty, create more successful cross-selling efforts, and deliver the most appropriate insurance bundle to customers.
Empowering Relationship Managers in their Digital Journeys
Throughout its history, banking has relied heavily on personal relationships to achieve many of its business goals. Relationship managers (RMs) have served as the “face” of the bank in providing sound business advice, acquiring new customers, and uncovering new sources of revenue within existing accounts. The most powerful combination for banks’ success is to equip Relationship Managers (RMs) with technology that allows them to extend the personal touch customers crave, the power of satisfying customer experiences (CX).
The Need for Speed
For insurers who can overcome challenges caused by legacy pricing processes, speed to market is a very real opportunity to differentiate, win more business, strengthen the bottom line and gain a sustainable advantage over the competition. This eBook will show you how all of this is more than just possible—it’s achievable with the right technology solution.
Your Roadmap to Accelerating Digital Transformation
Traditional banking is well behind other consumer-facing sectors such as Retail, Healthcare Payers, and Telecom, and those sectors are setting consumer expectations that banks must meet to be successful. Driven by their experiences elsewhere, banking customers have come to expect offers crafted just for them, delivered whenever is convenient for them, and through the means and media they choose.
Meet New Regulatory Changes Faster & Easier
The UK’s Financial Conduct Authority (FCA) aims to tackle ‘Price walking’ through the implementation of new rules that protect consumers from loyalty penalties related to various insurance products. These updates are likely to change the insurance industry as firms will now have to offer renewal prices that are no higher than the prices offered to new customers.
Lead the UBI Revolution - Brochure
Usage-based insurance (UBI) has already fundamentally changed the P&C insurance landscape. Now with Earnix and its telematics app, you can get the full picture of driver behavior and model a wide range of data to develop and deploy the right personalized UBI offers in real-time.
The Surprisingly High Cost of Delaying Tech Adoption
Traditional pricing and rating systems tend to be individual, siloed applications that require too much time and manual effort to make them work - causing significant pricing delays and missed opportunities.
In this eBook, we will delve into why insurers have not focused on new technology and describe the nine capabilities every insurer should demand as they evaluate new rating and pricing technology.
Dynamic Product Actualization for P&C
The insurance industry was built on managing risk, but today’s increasing pace of change in the marketplace requires product and pricing agility. Flexibility will allow insurers to respond to increases in claims costs, prototype new usage-based products, and prepare for new products on the horizon. Achieving this in a way that meets regulatory requirements necessitates new capabilities.