The most important parameter to build a successful Insurance business is the “Ability to Attract, Retain and Grow” the most profitable customers. While a lot of efforts and resources are spent to attract new customers, the attention on Retention and Growth of existing customers is not that high. Customer retention is essentially the ability to […]
In Insurance, most of the times we focus on the high premium paying customers as the most important customers and focus our marketing strategize to grow these customers. Consider the following scenarios for these high premium paying customers Some of them may stop paying premium after sometime (Lapsation) Some may not buy any other policy […]
It is widely known that analytics can help immensely in various aspects of a business like revenue growth, arrest customer churn, identify fraud, better forecasting and planning etc. If the benefits of adopting analytics are so compelling then, why it is not leveraged by the companies of all sizes? Gartner says that only 11% of […]
Ask any small and medium-sized business (SMB) about its top priority, and typically the answer will revolve around retaining the growing customers and increasing revenue. Similarly, a majority would say that cost is the single most important obstacle in adopting technology. It’s here that analytics, a hot topic today, is generally placed well to address […]
Most industry pundits agree that the Mutual fund industry is at the cusp of a significant growth period. In an interview to one of the business dailies, Reliance MF CEO said that the mutual fund industry is set to achieve an investor base of 10 crore accounts in the next five years. The overall asset […]