The application process is time consuming. Many applicants do not have the necessary information, like vehicle identification numbers (VINs), at their fingertips. Gathering and entering this data accurately means less time is spent on the real issue – understanding the needs of the customer. As a result, too many calls and on-line auto and homeowner quotes are abandoned without business being completed. And quotes that are completed may have errors, requiring costly rework and reduced customer satisfaction.
Perhaps more important, errors that are not caught for auto insurance alone, including undisclosed drivers and incorrect addresses, end up costing insurers in the U.S. an estimated $16.2 billion in lost premium revenues annually.*
With the Acxiom Premium Prefill Plus™ suite of insurance solutions, superior data sources are now combined with a flexible solution infrastructure to revolutionize the quality and breadth of data available and speed up the underwriting process, reduce gaps and errors in information that can lead to costly mistakes in underwriting.
Get ready to discover how Acxiom drives superior results helping insurers:
Key benefits for you:
Quality Planning Corporation Annual Premium Rating Error report. The report can be found online here.
With Prefill Plus you’ll have the data you need now and a streamlined process that increases premium and the number of quotes that convert to active policies.
Industry statistics reveal that a staggering 35% of auto insurance policies are written with undisclosed drivers. Whether the omissions are willful or intentional, the effect is the same: bottom line deterioration – by as much as 10%.
Find undisclosed drivers before they file a claim — and increase your premiums at the same time.
Speak with an Acxiom representative:
As featured in a recent issue of the Automotive Insurance Report, the real power of prefill tools comes from the application of analytics.
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Speak with our insurance industry specialists:
• InfoBase-X™ is the largest collection of U.S. consumer information available from one source.
• PersonicX® is the first true household-level segmentation system.
• Acxiom has over 20 billion customer and prospect records under management.
• Acxiom integrates over 4 billion customer records daily.
• Acxiom is a top 25 interactive agency.
• Acxiom named the first Chief Privacy Officer in the industry.
• Acxiom has 120 consultants with 1200+ years experience.
Learn how Acxiom helped Insurance.com provide accurate, reliable data for the company’s customer applications.
Learn how Acxiom helped one of the largest insurers take the bite out of rising postage costs and remove the threat of in-the-mail identity theft.
Learn how Acxiom revamps online experience, increasing online conversion rates by 33% for one of the largest life insurers and a leader in savings and retirement products.
To view additional Acxiom Case Studies, Click Here
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