CIGNA expands with CVM

Author: john willow

Author: john willow

CIGNA Insurance will expand its business model to direct marketing over the next year with a goal of reaching 80 percent growth.

Having solely focused on telemarketing, CIGNA is also looking for other channels, direct-marketing in particular, said CIGNA Insurance chief information officer Anisa Choocharn.

Claiming a leadership in call centres, the company has applied Customer Value Management (CVM), the devised strategy and legacy system, using sophisticated data-modelling and data-mining techniques to enrich the value of its customer-base with actionable insight.

"CIGNA is the only insurance company deploying CVM at an advanced stage," she said, adding that compared to other companies that use only descriptive profiling analysis or segmentation from demographic data, CIGNA goes deeper to use RFM models and predictive models to know more actionable insight.

Anisa noted that CVM software is not CIGNA copyrighted. Anyone who can operate the SPSS program can do basic data analysis, but the key point is that it's not be able to easily duplicate skilled and experienced people to manage and operate CVM in a dynamic state, using the various underwriting, actuarial and strategic marketing and sales channel disciplines.

CIGNA has strongly skilled and experienced people in CVM both locally and globally. "Our unique strength is that we can share the best practices in CVM across the globe," she said.

"We work closely with our business partners to capitalise customer database and this is one of the core competency of CIGNA," she said, pointing out that the company's CVM has enabled its customers to increase response rates, around 10-15 percent, and sales revenue, reduce marketing costs and has long term value of customer insights.

At the beginning this year, CIGNA partnered with a hypermarket offering four products including personal accident (PA), health insurance plan, cancer and dental plan to its members.

Anisa noted that the company implemented data modelling to find which product best matched target customers. After data modelling implementation, CIGNA can increase the numbers of policies sold by 5,000, with sales amounting to 20 million baht in six months, compared with contact by random selection. "We also now know which products in priority order to cross sell to specific customers," she said.About the Author:

Quoting & Saving just got easier...EasyToInsureME Health Insurance Quotes... Quote all carriers in seconds

Cigna

Cigna health insurance

POST COMMENT

Dsi Download Center a Scam Website or What? - In Depth Review DSi Download Center In-depth Review DSi Download Center Honest Review Where to Find Free Dsi Game Downloads - Download Dsi Apps and Games for Free DSi Download Center – Is This Website Legitimate? Nintendo Wii Game Cheats – Download Nintendo Wii Game Cheats For Free DSi Download Center – Pros and Cons DSi Download Center – Is This Website A Scam? The Handsome Factor Reviewed - How To Make The Best Of What You Got How to get rich using the bonds secret Nintendo Wii Unlock - Top Tips Window Decorations: Curtains, Blinds and Shutters 4 Tips Solving Wii Remote Batteries Drain Too Fast Problem