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.
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.
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:
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.
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Learn MoreLexisNexis® InsurQuote Direct is an insurance competitive intelligence solution to benchmark your rate position across U.S. auto & property insurance shopper profiles.
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