Prescreen for Acquisition: Harness the Power of Prediction

Optimize your insurance marketing dollars by focusing on consumers more likely to be in the market for insurance
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Focus on consumers more likely to be in the market for insurance

Optimize your policyholder acquisition dollars by refining criteria to those consumers most likely to be shopping their insurance coverage.

Identifying, attracting and retaining high-quality policyholders continues to be an industry-wide problem for insurance marketers and underwriters alike. This is where highly predictive, insurance-specific intelligence can be highly effective in terms of zeroing in and refining criteria to those consumers most likely to be in the market for insurance.

LexisNexis® Insurance Prescreen helps insurers maximize the effectiveness of their acquisition campaigns by identifying the best prospects based on their risk profile.

LexisNexis Risk Solutions insurance shopping analyses consistently support the notion that consumers are more likely to shop insurance at the time of renewal. Depending on the length of their policy - targeting consumers who last shopped 5 or 11 months ago enables you to better align marketing outreach to renewal dates. Our analysis has shown that there are over 2 million consumers, on average, in this segment and 15% of them are likely to shop within the next 90 days.

Insurance Prescreen attributes are predictive of both auto and home policy shopping and switching. The Auto Insurance Purchase Propensity score, as part of Insurance Prescreen, can be utilized to hone in on consumers with a higher propensity to shop and need insurance.

Well-timed credit information allows carriers to make a firm offer of insurance, exactly when prospects are most motivated to make a purchase or switch coverage. By focusing on the top two deciles of the model, carriers can access, on average, 11 million consumers every month and 18% of those consumers are likely to shop in the next 90 days.

In addition, the power of Insurance Prescreen can really help you zero-in on those consumers most likely to be in the market for insurance. When you filter the criteria to select those consumers who shopped 5 or 11 months ago – and also reside in the top two deciles of the Auto Purchase Propensity score – you will find an average monthly consumer population of 350,000, 25% of whom are likely to shop in the next 90 days.

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