Imagine being able to take the lead in the battle to retain your best customers by predicting the future; and imagine working with your carriers to price risks more accurately. For carriers and independent agents participating in a future-focused relationship in which they share data and use modern predictive analytics to jointly target and retain business, this ideal can be a reality.
Predictive analytics can form the basis for a deeper relationship between agents and carriers as they work together to determine which risks to target. Shared information and shared objectives drive a stronger partnership—and one that is more successful in the long term.
Some agents and carriers already are sharing access to data and predictive analytics, creating a new level of transparency and efficiency between them around issues like pricing and underwriting; customer-retention strategies; finding good prospects; customer segmentation; and cross-selling among various lines of business.
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