Identex ‘insure’ Cornhill make the best use of its databy
Crawley, 8th December 2003
Identex, the specialist in data-driven marketing, today announced that it has undertaken a customer insight project for Allianz Cornhill, one of the word’s largest financial service providers. Identex embarked on this project on behalf of Cornhill Direct, the direct general insurance business of Allianz Cornhill, and analysed its existing data to form the foundation for long-term strategic initiatives. The project follows a database build by Identex a year ago.
Identex identified the potential of the database by firstly
establishing and quantifying individuals into segments,
for example current customers versus quoted prospects. From this Identex developed an understanding of the nature of the segments by profiling behaviour and geo-demographics. Recency and frequency of product usage were also examined to
identify up-sell and cross-sell opportunities.
“This project has given us a greater insight into our customers’ and prospects’ behaviour and has allowed us to implement new recruitment and retention campaigns, focus on reactivation for lost customers and understand motives for dormancy. We are now able to derive significant additional revenues because we can identify potential up-sell and cross-sell opportunities for motor and home policies, and additional products such as Green Flag, Legal and Home Assist. In effect, quick wins and increased ROI on the initial investment we made on building the database,” explained Mike Hayward, Direct Marketing Manager at Cornhill.
"It’s great to be a part of the process that helps Cornhill to make the most of its data and to achieve its marketing objectives,” said Carol Jarvest, Account Director at Identex.
“Early reports from our Call Centre show that the new campaigns are generating good results. This is great news and I’m confident of continued success,” Hayward concluded.