Insurance Sector

Improve new and existing customer sales, service and retention strategies

Principa have extensive experience in providing a range of analytical and software solutions that focus primarily on client behavior.

Solutions include new client acquisition, upsell and cross sell opportunities, retention strategies and customer service solutions. It is through the delivery and application of these products and services that Principa has successfully improved the key performance metrices that the Insurance Industry faces, such as:

Principa’s propensity modelling attempts to predict the likelihood that visitors, leads and customers will perform certain actions that the Insurer would like the customer to do. It’s a statistical approach that accounts for all the independent and confounding variables that affect said behaviour. The propensity score, then, is the actual probability that the visitor, lead, or customer will perform a certain action, such as take up the policy.
In partnership with a leading direct marketing organisation, Principa is able to provide the market with analytical capability to improve the quality of the lead and to provide opted-in POPIA compliant leads. Our leads provide our customers with superior uptake of offers and a better likelihood of receiving future payments.
For those customers with existing leads, we provide analytical services to improve response, uptake and risk through our bespoke data sources and machine learning algorithms, again with the goal of improving both risk and response.
We are also able to offer various channels to support your leads campaigns which include SMS, email and more recently Chatbot Ai.
Principa has developed a number of predictive modelling solutions that are normally customised for our clients that aims to improve sales or service performance relating to new customer or existing customers.
Models that we are able to offer include,
Agent X is our latest Innovation. The concept originated from our frustration in providing our customers with great analytics relating to their clients with their call centre agents having no means to use the analytics. Our R&D team have developed a software solution that is able to consume the value of the analytics in an easy to read hover over application which we believe is able to improve call outcomes. In addition, we have added performance data that motivates agents based on their performance.

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