SCOR and ReMark announce that they have signed a partnership agreement with Atidot on a solution designed to increase in-force business value for life insurers. The innovative digital solution will deliver significant value for the partners’ clients by better predicting policyholder behaviour and developing engaging marketing strategies to retain customers.
A global reinsurer, SCOR continues to leverage its industry expertise and collaboration with ecosystem partners to design and offer innovative solutions to its clients that help drive growth, solve key business problems, and achieve strategic objectives.
“SCOR believes that it’s not enough for a reinsurer to provide competitive reinsurance in today’s market. This partnership reflects our commitment to foster solutions that add value to our clients, and to ensure that life insurance meets the needs of more consumers in a personalised and engaging way,” says Rick Pretty, Senior Vice President and Head of Knowledge Commercialisation at SCOR.
The solution combines Atidot’s artificial intelligence and data modeling platform, with ReMark’s solid marketing expertise and consumer insight. Insurance companies can expect to better engage with customers, improve retention of existing policies, optimise policyholder coverage and increase the value of their in-force business. The partners have a strong track record in the U.S. market.
“This partnership provides a unique solution in the industry,” says Dror Katzav, CEO and Founder of Atidot. “Our predictive modeling is based on advanced data science and enriched data that creates a whole new level of engagement opportunities for customers and advisors. It’s a win-win.”
Because carriers’ business objectives and distribution needs vary, this new solution was designed to be customizable and flexible. Atidot will first score carrier data sets to identify policies that, for example, are likely to lapse in the next four to six months. ReMark will then use this analysis to develop appropriate marketing campaigns aimed at proactively preventing lapse and following up on those leads with a high propensity to buy.
The solution can be easily adapted to also identify opportunities within a customer database for upselling and cross-selling. It is end-to-end, and includes insurer and agent-branded communications, as well as personalised marketing and sales execution strategies.
Steve Gaertner, Senior Vice President, Distribution Strategies for ReMark adds, “We are proud to bring ReMark’s proven experience of engaging end-consumers to the table, having run over 12,000 campaigns to date. This solution is easy to implement for carriers and I’m excited to see how it will improve our clients’ business outcomes.”
Atidot is a cloud-based AI and predictive analytics solutions provider for life insurance companies. Our data-driven turnkey solutions directly impact companies across the value chain, help them serve their customers better, and generate new revenue streams. Founded by a team of data scientists and actuaries, Atidot works with leading carriers in North America and Europe to optimize their book of business. Atidot has offices in California, the UK, and Israel and was awarded by Gartner to be ‘Cool Vendor 2019’ in Insurance.’