Insurers must understand that the future of the insurance industry lies in investing in digitization built on data ecosystems. To excel in the digital insurance sector, a strong strategy is essential for managing data effectively and targeting the appropriate audience with marketing efforts.
Data ingestion and integration
Your insurance business's optimal performance hinges on its capacity for data ingestion and integration. Data ingestion refers to your ability to ingest new data from multiple sources. Once this data is ingested from relevant sources you can then integrate this data with your existing systems. Efficient and rapid data ingestion capabilities enable access to external channels previously beyond your organization's reach. This enables you to generate insights that delivers personalization in your marketing campaigns.
Sales and Marketing Analysis
One of the main purposes of data ingestion and integration is to add layers of personalization in sales and marketing analysis. With data that is personalized, sales and marketing can be taken to the next level by implementing a customer-centric approach. Efficient data ingestion and integration capabilities enable the identification of high-conversion channels, facilitating the reallocation of resources from less effective to more effective channels. This drastically reduces your marketing costs as the same marketing budget is being applied in a setting where the chances of converting customers are higher.
Customer Segmentation
Another crucial aspect to prioritize in your data ecosystem is customer segmentation. It's vital to grasp the ideal level of detail in your marketing campaigns for maximizing conversion rates in key channels. Through integrating both your internal and external data on Evvox, our platform can leverage AI/ML algorithms across a broad dataset. This extensive dataset enables the generation of more precise insights relevant to both your portfolio risk and the external environment, ultimately driving higher conversion rates in marketing campaigns.
Empowering Your Team with CRM-Readiness
The last key component is a CRM that has your insights readily available. Evvox empowers your sales and marketing teams and technologies by getting them to relevant data at the relevant time directly into their CRM’s. Evvox acts as a bridge connecting your extensive data insights with your customers' comfort levels during the sales process.
EVVOX – A platform that combines all the key elements
EVVOX is a state-of-the-art solution that is best suited to adapt to constantly changing insurance needs. Its extensibility engine as well as advanced customer segmentation techniques allow you to effectively target segmented audiences, which help identify the highest conversion channels for your organization.
Contact one of our experts to enhance your insurance business!