SCOR, a leading French reinsurance company and its subsidiary ReMark have reportedly signed a partnership agreement with cloud-based AI platform, Atidot for a new digital solution that will increase in-force performance for life insurers.
With the innovative solution, SCOR will be able to provide significant value to its partner’s clients with better policyholder behavior predictions while creating engaging marketing strategies for retaining customers.
Rick Pretty, Senior VP and Head of Knowledge Commercialization, SCOR, said that partnership signifies the company’s commitment to fostering solutions that give more value to its clients while making sure that the needs of consumers from life insurance are met in a more engaging and personalized way.
The digital solution combines ReMark’s extensive marketing expertise and customer insight with Atidot’s AI and data modeling platform. Now insurance firms can engage with their customers better, boost retention of existing policies, improve policyholder coverage, as well as increase the value of their in-force performance.
Dror Katzav, founder and CEO, Atidot, explained that its predictive modeling is centered on enriched data and advanced data science that will create a new level of engagement opportunities for customers and advisors.
As various insurance carriers have different business objectives and distribution needs, the solution has been designed to be flexible and customizable. Atidot will be first scoring the carrier’s data sets for identifying policies that may lapse in the next few months. Then ReMark will use this analysis for developing appropriate marketing campaigns focused on proactively preventing the lapse and looking into those leads having a higher inclination to buy.
The digital solution can be adapted easily for identifying opportunities in the customer database for cross-selling and upselling. It is an end-to-end solution that involves insurer and agent-branded communications, along with personalized sales and marketing execution strategies.
Steve Gaertner, Senior VP of Distribution Strategies, ReMark, stated that the firm, which has run over 12,000 campaigns since founded, is proud in bringing its proven experience of engaging with end-consumers to the table and looks forwards to seeing how the solution will improve its client’s business outcomes.