At a time when innovative marketing is key to commercial success, information on customers becomes ‘king’. As such, companies within the insurance market are increasingly recognising the need to develop a much deeper knowledge of customers and prospects. They can no longer rely on "hindsight," or views provided by traditional analytics that examine what insurance companies did in the past. Today’s challenge is building "insight," understanding what drives behaviour, and "foresight," predicting likely outcomes. Only then will it be possible to see which customers are most profitable and, therefore, valuable and effectively allocate marketing spend.
The key to unlocking that insight is different for every business; from developing and maintaining more effective information infrastructures, to building a customer-centric business ethos right through to effective data integration and customer analysis and segmentation.
Acxiom’s analytical and consulting services start with a blank sheet and are shaped by the individual business and marketing challenges facing insurance companies today. Every Acxiom consultant is uniquely qualified to provide insight from an objective and independent vantage point and together they have helped many of the largest UK insurance brands better manage customer information to improve results.