1. Home
  2. Our Products
  3. Prospect Qualifier

If your conversion propensity tools do not consider rate competitiveness, you may be missing out on critical intelligence to inform your customer acquisition strategy.

LexisNexis® Prospect Qualifier is a dynamic, carrier-specific insurance predictive model. It shows the likelihood of a prospect to convert into an insurance policy based on the rate competitiveness, compared to the rest of the industry, of an insurer’s premium calculated to match the prospect’s risk profile. By making competitive intelligence available at the prospect level, Prospect Qualifier offers unparalleled insight into U.S. auto insurance shoppers’ conversion propensity. This powerful segmentation tool can help you improve customer acquisition costs and your overall marketing ROI with a data-driven approach to your acquisition campaigns.

Conversion Propensity by Rate Competitiveness

LexisNexis Risk Solutions internal analysis shows that as many as 40% of all policy conversions are in a carrier’s best quartile. Insurers can use Prospect Qualifier to more easily identify those high priority consumers and quickly integrate them into their marketing team’s lead assessment and customer acquisition processes.

Results are delivered through LexisNexis® Lead Optimizer, a real-time lead assessment solution that helps validate identities and segment inbound leads by risk level and lifetime value potential.

Evaluate leads dynamically

Evaluate leads dynamically

Optimize customer lists and targeting

Optimize customer lists and targeting

Optimize customer lists and targeting

Enhance segmentation and filtering

Reduce customer acquisition costs

Reduce customer acquisition costs

Insurance marketers can use Prospect Qualifier to:

  • Segment leads based on competitiveness for a specific prospect
  • Distinguish between high and low-value prospects prior to purchasing the lead or engaging with the consumer
  • Prioritize marketing resources toward higher quality leads and target marketing efforts to the prospects that are most likely to convert
  • Customize messaging to market segments based on price considerations

Assess and prioritize insurance leads more effectively

A carrier’s rate competitiveness is the single most predictive attribute when assessing if a prospect will convert into a policy holderi. But P&C insurance marketers have historically lacked substantive conversion propensity information to inform their customer acquisition strategies. Many of the insights that exist today are not insurance-specific or have been limited to generic demographics and signal data. Until now.

Prospect Qualifier leverages proprietary shopper profiles and pricing data from LexisNexis® InsurQuote® Direct to assess the estimated rate profile for a specific prospect. The model prediction considers the carrier’s rate, competitor rates, and changes in the consumer’s profile, such as a new marital status, vehicle information, or coverage needs, to show the carrier’s competitive position compared to the rest of the industry. These comparative insights can help insurance marketers determine whether that prospect is more or less likely to convert into a policy based on price. Prospect Qualifier accounts for ongoing rating plan changes so you are acting on the most up-to-date information available.

More data intelligence for better informed insurance marketing decisions

LexisNexis Risk Solutions offers three insurance-specific predictive models to support carriers’ acquisition and retention strategies. In addition to identifying and prioritizing the leads most likely to convert with Prospect Qualifier, insurers can further segment lists with:

  • LexisNexis® Prospect Survival Model – helps identify those prospects that are most likely to be retained after the first renewal period, improving retention and countering profitability pressures.
  • LexisNexis® Marketing Risk Classifier Model - helps segment insurance risk profiles aligned with an insurer’s underwriting standards.

Used together, these models, which are also available through LexisNexis® Lead Optimizer, can help carriers find more prospects that fit their target profile and buy leads that drive value to their business.

iLexisNexis® Risk Solutions Internal Study, 2024.

Contact us to learn more

Let us help you determine how Prospect Qualifier and our other predictive models can support your acquisition and retention programs.
For more information about how we may use your information, please review our privacy policy.

Related Products