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Insurance Data Dashboard
for Sales
How
much better could you manage your agents and increase
sales if you really knew what was going on – from when a prospect
calls the agent, to when the business is issued?
While most Business Intelligence reporting is focused on data
gathered after a policy is bound, now there’s a way to track
and analyze what happens before binding.
AdvizeXpress can support your sales efforts in four key
areas:
Sales Process Analysis
How much
time do agents really spend at your website? What are
they doing once they get there?
Sales Process Analysis looks closely at these vital questions,
highlighting statistics such as how often agents only take quotes
through the quick-quote stage, versus completely through to full
quote. When they stop at quick quote, are they excluding your
company based on a price derived from limited information,
overlooking credits and discounts? Are they going back to
follow up on quotes, or just shopping your prices?
Armed with this information, your field reps can come prepared for
agency visits, ready to help agents at a whole new level.
Agent Performance Management
By analyzing the differences between those
agents with the best close ratios |
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and those with the worst -- for both new
business and renewals -- AdvizeXpress will show you the key differentiating factors.
Are the differences related to pricing, geography, or
demographic factors? Or are they mainly due to something
simple like the upload systems you do or do not support? How
much do cross-sales contribute?
With feedback captured after lost sales,
AdvizeXpress will also analyze your strengths and weaknesses
compared to key competitors, highlighting the coverage, geographic
and even deductible levels where you may need to adjust pricing.
Similarly, it can report which agents are providing the most
and least feedback on your lost business.
Retention Analysis
Retention is the cornerstone for the long-term health and growth of
any carrier. With AdvizeXpress, you can go well beyond just
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looking at retention rates and trends -- to
understanding which competitors are eroding your customer base, and why.
With filters on agent-related versus company-related reasons for cancellations and
nonrenewals, AdvizeXpress will show where you are weak --
geographically, demographically, or within product areas.
Carriers can use these details to adjust prices and underwriting
guidelines, or decide to focus on entirely new market segments.
Most important, because of the near real-time nature of the
reporting analysis, it will be easy to spot agents with sudden and
drastic drops in renewals -- enabling you to take immediate
corrective action to minimize the effect of potential book
roll-overs.
Automated Marketing Tools
AdvizeXpress goes beyond advising and can
proactively generate prospect lists and direct email, both for
existing business renewals as well as lost quotes that are coming up
for renewal. You can identify and segregate in multiple ways,
thereby targeting the most desirable risks (e.g. high credit score
insureds) if you wish.
AdvizeXpress may even answer questions you
never thought to
ask!
To learn more,
give us a call at
(803)-647-9532. |
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