Learn More: Additional Solutions for Insurance from Equifax
Property & Casualty (P&C) and Life insurers that can optimize their marketing and profitably cross-sell their products can gain a critical competitive edge.
IXI’s solutions provide new metrics for P&C and Life insurers to help them market their array of services and quickly differentiate customers based on their likely insurance needs, financial position, and lifetime value. Only IXI can present a combined view of estimated assets, aggregated credit, and other economic measures that insurance firms can use to enhance their marketing and sales efforts.
IXI offers a single source for insurance targeting and segmentation needs. IXI’s solutions offer a set of robust financial, economic, and behavioral measures that can be used to enhance acquisition and cross-sell/upsell strategies. Using a combination of WealthComplete, Income360, DSI, DS$, CreditMix, and MarketMix, P&C and Life insurers can:
- Better understand the estimated financial position and life-stage of current and future policyholders to determine likely product needs
- Examine the intersection of age and estimated wealth to better target customers for specific insurance products
- Segment and target households most likely to be receptive to offers for additional services
- Gauge life-time value of new and existing policyholders
- Evaluate markets by financial profile and insurance ownership
- Enhance customer retention efforts
Once you’ve identified your target groups, Financial Cohorts and Economic Cohorts – IXI’s household-level segmentation systems – can help you determine how best to communicate with your target audience to achieve the desired response. P&C and Life insurers can use Financial Cohorts and Economic Cohorts to:
- Ensure appropriate marketing messages and offers are delivered to various policyholder segments, incorporating insight on households’ likely financial and economic position, investment style, demographics, life-stage, attitudes and behaviors
Not only can IXI help you enhance your customer marketing strategies, IXI also offers solutions to enable you to target the right small businesses for your products and services. With IXI’s Small Business Assets, firms can better determine which small businesses are most appropriate for premium offers as well as improve prospecting for new small business customers. If your firm offers services for home-based small businesses, then our solutions can help you communicate with them more efficiently.