-- CX Insurance Services, Inc. (CXIS) detailed the company's new Retention Improvement Program for property and casualty insurers. Due to lower switching costs and what many see as advancing commoditization in some lines of business, consumers are more likely than ever to change insurers at renewal. The CXIS Retention Improvement Program enables P&C insurers to identify at-risk policy renewals and tactically retain them. Using a proven, proprietary mixture of web-based automation, P&C licensed services, and advanced modeling, the new CXIS program is delivering results for carriers spanning $19 billion to $100 million in direct written premium in 50 states.
"While analytics packages seemingly grow on trees these days," CXIS President Joseph Serrano said, "our program is a different blend of data and tactical business processes. Data on its own can be somewhat useless - it usually helps to actually do something with it. Our retention program is delivering results for P&C carriers because it's a balance of targeting, predicting, and tactical policy retention. We've fused technology & service together in a simple monthly subscription model, and the ROI for carriers has been remarkably compelling. So in other words, things actually get done."
Retention has long been a critical component of insurer profitability, as it costs less to retain existing customers than to acquire new ones. Insurers also benefit from potential cross-sell and up-sell opportunities with existing policyholders. However increasing competitive pressures and rapidly evolving online capabilities are creating retention headwinds for many P&C carriers. As in other industries, it's relatively easy for consumers to compare, price shop, and switch insurance companies in today's online environment. Web-based insurance purchasing has evolved beyond personal auto into small business commercial and other lines of business, and many predict the trend will only continue. Comparative raters and online agencies are influencing web-based purchasing behavior across multiple line of business.
CXIS is helping P&C carriers address these challenges with a unique blend of service & technology; carriers are able to participate in a pay-as-you-go monthly subscription model.
As a leading P&C operational services and production growth company, CXIS helps P&C carriers fill operational gaps, mitigate talent issues, and boost policy growth or retention. Those interested in the Retention Program or any of the other CX Insurance Services offerings can learn more at http://cxis.com.
About CX Insurance Services, Inc.:
CX Insurance Services provides licensed operational support, production growth, & retention services to P&C insurance companies. CXIS is led by a team of former P&C carrier executives with a combined 75+ years experience in P&C product, underwriting, sales, claims, & customer service functions. CXIS is 100% U.S. based, and 100% of its associates are P&C insurance certified.
Contact Info:
Name: Joseph Richard Serrano
Email: Send Email
Organization: CX Insurance Services, Inc.
Address: St. Petersburg, FL 33701
Phone: 1-855-676-2947
Website: http://cxis.com
Release ID: 122488
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