Test & Learn for Policyholders™
Test & Learn for Policyholders™ is the most advanced application for measuring the impact of policyholder-targeted activities. Many insurers have recognized the importance of conducting tests and analyzing policyholder data but lack the tools necessary to derive actionable information from their data. Test & Learn™ for Policyholders measures the impact of any tested action on the entire customer relationship and identifies the profile of customers who respond best to that action. This enables carriers to target policyholder programs to the most profitable customer segments, generating substantial bottom-line improvement.
APT Value Creation
Test & Learn for Policyholders™ is focused on helping insurers increase profits through improved decision-making. A workflow-based interface guides analysts through the setup and evaluation of each test and identifies the drivers of program success. This enables more targeted rollout plans focused on the policyholders most likely to respond favorably to the program, allowing carriers to maximize the ROI of any initiative.
With Test & Learn™ forpolicyholders, insurers are now able to address specific issues, such as:
- How do different customer segments react to pricing changes?
- Which policyholders are most at risk of attrition?
- Which policyholders are the best candidates for cross-sell efforts, and which cross-sell strategies are most effective?
- How is each customer impacted by regulatory changes?
- How is customer lifetime value impacted by the new claims management program?
- Which policyholders can be serviced by lower cost, third party adjusters and call center reps without sacrificing overall profitability?
- Which customers respond best to a new product?
Test & Learn for Policyholders™ uses built-in pattern recognition and optimization technology to automatically seek out customer segmentation and targeting opportunities in order to maximize the ROI of any action.