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Insurers offer need-based policy

Insurers using data analytics to identify client profiles and behaviours, to cross sell and identify more products

M Saraswathy  |  Mumbai 

Have you recently got married and wish to take a policy for the spouse? Your insurance company is probably aware and will soon send you a host of options. Or, if you live in an upmarket part of town, they might also suggest upgradation of the existing cover. Insurers are increasingly using data analytics and predictive modelling, to not only understand customer profile but to cross sell and up sell products. They are offering benefits, based on the data collected. Karthik Raman, head of products and strategy at IDBI Federal Life Insurance, said IDBI had recently implemented ...

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Insurers offer need-based policy

Insurers using data analytics to identify client profiles and behaviours, to cross sell and identify more products

Insurers using data analytics to identify client profiles and behaviours, to cross sell and identify more products Have you recently got married and wish to take a policy for the spouse? Your insurance company is probably aware and will soon send you a host of options. Or, if you live in an upmarket part of town, they might also suggest upgradation of the existing cover. Insurers are increasingly using data analytics and predictive modelling, to not only understand customer profile but to cross sell and up sell products. They are offering benefits, based on the data collected. Karthik Raman, head of products and strategy at IDBI Federal Life Insurance, said IDBI had recently implemented ... image
Business Standard
177 22

Insurers offer need-based policy

Insurers using data analytics to identify client profiles and behaviours, to cross sell and identify more products

Have you recently got married and wish to take a policy for the spouse? Your insurance company is probably aware and will soon send you a host of options. Or, if you live in an upmarket part of town, they might also suggest upgradation of the existing cover. Insurers are increasingly using data analytics and predictive modelling, to not only understand customer profile but to cross sell and up sell products. They are offering benefits, based on the data collected. Karthik Raman, head of products and strategy at IDBI Federal Life Insurance, said IDBI had recently implemented ...

image
Business Standard
177 22