Drive smarter decisions across all insurance initiatives
Test & Learn®, Mastercard's multi-patented analytics software, helps insurance carriers improve profits with in-market business experimentation. Using our test and learn framework, insurers can drive customer acquisition, enhance retention efforts, optimize marketing and identify opportunities for operational efficiencies.
A large insurer wanted to understand the impact of a new Specialty Call Center it created that was tasked with retaining customers identified as most likely to churn. To do this, the team used Test & Learn® to isolate the impact at the representative and customer level. They found that while average handle time increased 8.9%, there was also a 6.3% lift in number of accepted offers for new product discussions. Findings also revealed that by specifically targeting the representatives and customers most likely to respond best to the Specialty Call Center, the insurer drove a lift in retention and number of products per customer, improving revenue by $3.5MM.
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