Case Study: Largest Property and Casualty Insurance Company achieves 246% increase in policy conversions with LexisNexis Risk Solutions

Maximize Property to Auto Cross-Sell Campaign Performance with Predictive Analytics to Increase Policy Conversions

One of the nation’s largest property and casualty insurers faced weak results from broad, resource-heavy marketing when trying to cross-sell homeowners policies to its monoline auto customers. The carrier needed to identify customers most likely to buy, better leverage existing policyholder data, and improve marketing return on investment.

Working with LexisNexis, the insurer used Market Magnifier and predictive analytics to score and target high-propensity customers, incorporating responder profiles into successive campaigns. The targeted approach lifted quote response by 7% and drove a 246% increase in policy conversions, while reducing costs and improving marketing ROI.