Alfa Vision Insurance, a Brentwood, Tenn.-based nonstandard auto subsidiary of Alfa Insurance (Montgomery, Ala.) has chosen SAS Analytics Pro to support efforts to boost customer retention rates, based on a recommendation from Beachwood, Ohio-based Elite Technology Solutions, a SAS (Cary, N.C.) alliance partner. SAS Analytics Pro is a desktop solution that enables users to access, manipulate analyze and present information without resource-intensive IT support, according to SAS.
"SAS has been so powerful; it's the right platform for our needs," comments Jay Kempf, VP, product development, Alfa Vision Insurance. "Elite used SAS to develop a retention prediction model based on our data, which help us to strategically target the best retaining customer segments." He adds that, "Elite helped us to think through what we wanted to accomplish and provided the expertise to build the statistical models."
Alfa Vision plans to identify and retain customers through better statistical modeling, according to SAS. The carrier has already found certain customer segments less costly to service and more profitable from an indemnity standpoint, according to the vendor. During 2010, Alfa Vision will target eight program rollouts that will use SAS and the Elite-developed retention predictor.
"As we measure retention today, we expect to increase our numbers by at least seven points," Kempf reports. "If we can achieve seven points improvement, we will have this project paid back in less than a year."
Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio