CXS motor increase to drive increased GWP case study
Consumer Intelligence wanted to identify opportunities to drive increased value from your subscription, by identifying tangible hypotheses/recommendations for Market & Competitor Insight to take to PCW hubs.
We have worked on various hypotheses to try and find additional value, including telematics, segmentation, channel preference and pricing/quotability inconsistencies linked to question sets.
The one with the strongest recommendations links to our clients brands having lower CXS values than competitors.
We found that if our client increased their CXS in line with competitors, thus being fair to customers, they could achieve 1.75% more R1.
This could drive significant GWP gains, which would be even larger if this were implemented across all our clients insurance brands.
Unrealised, as not progressed by Market & Competitor Insight team without feedback.
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