Precision marketing solutions for insurance industry

Scheme background

In the digital age, consumers can have a more quantitative grasp of their personal preferences, choose and purchase products and services at a low cost through convenient mobile technology and social media platform. The inherent marketing mode cannot satisfy the modern consumption demand of digitalization any more. Based on this situation, the marketing methods and technologies of all industries are rapidly developed, and there is no doubt that it is particularly important for the highly competitive insurance industry to master the client preferences and needs more accurately based on the humanity, market and sell insurance products as per the preferences, so as to achieve a win-win situation between supply and demand.

Scheme content

Precision marketing schemes in the insurance industry can be divided into two parts: back-end precision marketing data model construction and front-end precision marketing management. The back-end precision marketing data model is to find the client data model conductive to precision marketing through data mining technology based on the E-CIF data source of the insurance company, so as to provide sales decision support for the business department. Currently, Chinasoft International has accumulated several client precision marketing models for the insurance industry, such as client’s purchasing power model, client’s product preference model, product correlation model, upstream sales model, life-cycle – contribution model, etc. The front-end precision marketing management solution provides a complete set of precision marketing management functions throughout the whole life cycle of marketing activities from the creation of sales activities, selection of client sales model, list screening of client-based sales model, allocation of sales task, acquisition of sales results, statistical analysis, to adjustment of sales model. Through the construction of the front-end application, the closed-loop management of precision marketing is realized, which not only provides the business department with the client list possessing clear sales characteristics, but also continuously improves the client sales model through the sales results fed back, making the marketing behavior more accurate and efficient.

Scheme value

Driven by data, the insurance industry precision marketing solution of Chinasoft International is a necessary choice for the marketing digital construction of insurance institutions. Besides the traditional social acquaintances and cold call, the data-driven marketing provides a new way of client acquisition which takes into account both marketing resource coverage and success rate; the data-driven marketing evolves the marketing method, so as to continuously improve the success rate of sales leads by constantly perfecting the client marketing model; by using the big data and IT technology, the scheme mines and analyzes the client information, predicts their potential needs, and pushes corresponding insurance products and services more specifically, which improves the client transaction rate and retention rate; the scheme helps to reduce the sales cost of insurance institutions, and build a stable loyal client base by constantly satisfying the individual needs of clients, so as to realize the value-added chain reaction of clients, achieving the long-term stable and high-speed development of enterprises.