for a company, acquiring a new customer costs 6 to 7 times more than retaining an existing one;

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A 5% improvement in Customer Retention can produce up to 25% more profit.
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But be careful! For the insurance sector, the theme of loyalty is even more crucial and pressing. One of the most serious problems to be addressed, in fact, is the increase in the churn rate , that is, the rate of abandonment by one's customers. And the urgency of this problem is well told by these other data:

The Insurance Industry is the third production sector with the cambodia whatsapp resource highest rate of “planned churn”: if in 2018 this rate was 19.5%, now we are at 22.5%. (source: learning.callminer.com);
In the UK alone, unplanned churn costs insurance companies a whopping £312 million. (source: learning.callminer.com)
In short, everything revolves and will increasingly revolve around the theme of Customer Retention : it is the first concern and the first objective for companies in the sector. And the path to achieving this objective starts from data collection and arrives at the creation of a new relationship with individual customers.

The most effective way to create closeness with your insured is to set up a customized dialogue , based on individual risk profiles, of course, but also on the characteristics, needs, and desires of individuals. And how can this be done when you have audiences of thousands or even millions of customers in front of you?

The answer lies in the collection , analysis and interpretation of data .

And here the importance of the digital contract returns to the center of the spotlight : from this dematerialized document, in fact, a large amount of information on each individual customer can be automatically extracted and archived . A truly precious asset, which feeds CRM (Customer Relationship Management) systems .

From CRM, then, we move on to the revolution in CCM (Customer Communication Management) systems. Knowing who you have in front of you, thanks to data analysis, digital communication becomes personalized. The target coincides with each individual person. And from the one-to-many perspective we move on to the one-to-one one. It goes without saying how extremely effective this type of communication is.

The insured is no longer a number among numbers, but feels treated, finally, as an individual with his unique characteristics. All with the efficiency of digital and in an automated way.

How to embrace this change ? By relying on specialized companies like Doxee . AXA , a global giant in the insurance sector, has already done so, with the specific aim of reducing the cancellation rate by customers at the delicate moment of policy renewal.