Quote&Bind - Solution Framework

Insurance is by far the most expensive add-word in Google with a fierce competition to capture leads between companies. Regarding impact on the Combined Ratio, this translates into higher acquisition costs that lower the margins on sales and pressure underwriters to build products with lower prices while still trying to keep “bad risk” away.

Marketing, meanwhile, fights to improve conversion rates on the expensively acquired leads which is harder and harder to achieve as customers deal with “Amazon type” customer experience and have little to no patience dealing with complex processes.

We can’t solve the cost of acquisition of leads (or can we?…), but we can definitely improve the conversion rate on the funnel through a better customer experience, A/B testing that is done safely in production environments in a matter of hours (not weeks or months) and last but not least really implement changes on the Quote&Bind process using Artificial Intelligence, Advanced Analytics, Natural Language Processing and 3rd party data to improve customer conversion rates and therefore improve the Combined Ratio.

Check out our Quote&Bind solution-framework and see how we positively impact the Combined Ratio at a fraction of the cost and a fraction of the time of other market solutions and keeping churn away.