Category: In-force management

An illusion – the ‘Next Best Action’

In customer management, the “next best action” is a recommendation to staff on the most relevant next conversation to have with each customer – the next product or service they are likely to require. It is usually determined by analytics and machine learning. The ‘next best action’ promises much to insurers hoping to engage better with their in-force customer base. We […]

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Geneva Association latest research

This week, the Geneva Association published a major study about how life insurers are dealing with the sustained low interest rate environment. The paper follows many months work including a survey of a number of major insurers into what actions they are taking, including what they are doing on in-force management. You can download the full ‘Low for […]

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End-to-end data analytics

Data science can significantly improve the management of in-force customers.  In the process it can also add significant value for the shareholder. But many insurers (and banks) have struggled with data analytics. Progress has been slower than data experts hired from other industries would have predicted. Here are two of the common pitfalls: The ‘we need to organise […]

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