"Moving beyond a simple number for retention": ReFocus AI at the Global Insurance Symposium
We overlook data every day that can be used to accurately predict customer retention.
Financial technology (Fintech) is used to describe new tech that seeks to improve and automate the delivery and use of financial services. When fintech emerged in the 21st Century, the term was initially applied to the technology employed at the back-end systems of established financial institutions.
We overlook data every day that can be used to accurately predict customer retention.
Do your users, customers, insureds love you? Like really, sincerely love you? I'm referring to the sort of passion that people reserve for their iPhones.
Insurance companies use software to efficiently operate. The software can vary greatly depending on the products sold, operating geographies, and the point in the insurance ecosystem where they sit.
Compared to the early 2000s, it now takes 66% longer to connect with prospects, with the average sales cycle taking 50% more time to win. To win back a competitive edge, digital transformation centering on sales is becoming more prominent.
In the age of ‘fail hard and fail often’ methodology popularized in the late 1990s Silicon Valley, sometimes startups could learn a thing or two (or three) from legacy companies to create sustainable change.
When a company’s data is complete, contains a large number of data points, and is recent, it can be trusted. That trust means that executives can rely on their data to make important business decisions.
ReFocus AI was selected to join a select group of more than 100 Top Innovators from the Technology, CleanTech, Life Sciences, Healthcare and FinTech sectors out of thousands of applicants.
The CEO now has an especially tough decision - move forward with unreliable data, or miss an important opportunity to grow the company? While this seems like a hypothetical scenario, it's very much real.
Colby Tunick, CEO and founder of Refocus AI, is ready to help you make sense of your brokerage data and explains why it's time to take control of your business. Colby shares how data can help predict which customers will be more profitable and which ones could cost your business money.