Pricing & Product Management
While insurance companies have great experience with actuarial science and underwriting, many organizations lack the capability to measure the in-market impact of pricing and product changes. Understanding customer elasticity to price changes and the true incremental impact of new products is critical to driving sustained profit growth. APT’s Test & Learn™ management system enables the accurate evaluation of customer response to these programs, allowing insurers to refine and optimize go-to-market decisions worth tens of millions of dollars to the bottom line.
Watch our featured videos
Trends & Analytics Overviewhttp://www.youtube.com/watch?v=KN-KgCgZdTE
Big Data Analyticshttp://www.youtube.com/watch?v=KK-3pHTgCUU&list=TLyQiZNXZC0lo
Leading insurers have been applying Test & Learn™ to the following types of pricing and product management questions:
- What is the incremental impact of a pricing change? How does response vary by market segment, competitive positioning, and other factors?
- What is the total impact, across all product lines, of re-pricing existing customers?
- Is bundling an effective strategy for driving incremental sales? What discount, if any, generates the best returns?
- What level of incremental sales is generated by a new product launch, net of cannibalization and halo effects? What is the most effective strategy for launching a new product?