In the insurance business, the odds of cross selling or up selling are always greater than acquiring a new customer. While the traditional approach of identifying customers who are receptive for a sales pitch hovers majorly around the customer information at a given point in time, it fails to track the changing customer attributes. Also the traditional approach doesn’t provide any metric to identify which customers will be ready to move to the next bouquet of Insurance offerings in the future. Therefore, it becomes vital to follow a new approach that not only identifies the immediate prospects for cross-sell and up-sell, but also identifies which non-receptive customers may become receptive in the future. This helps companies to make targeted offerings at the right time and also not lose customers who would be potential buyers for up-sell/cross-sell in the years to come.

A webinar covering the same topic is scheduled for May 3rd, 2018.

The agenda of this introductory webinar, to be held on May 3rd is as follows:

• The current analytics approach for cross sell and upsell
• A fresh approach: Multistage offset models
• Illustrative sample problem
• Best usage practices for multistage offset models

Insurance organization employees or the staff involved in insurance marketing and data modeling are requested to attend the upcoming webinar. The 45 minutes event will take place on Thursday, May 03, at 12.30 p.m. eastern. Online registration is open and can be accessed at: http://bit.ly/2HS9viJ

About EXL Service

With more than a decade of experience and serving 40+ clients, EXL Insurance Analytics focuses on driving improved business outcomes by generating data-driven insights across different functions of your business. We deliver predictive and prescriptive analytics in the areas of customer acquisition and lifecycle management, risk underwriting and pricing, operational effectiveness, credit and operational risk monitoring and governance, regulatory reporting, and data management.