To maximize agent sales and identify areas of opportunity, Colorado Farm Bureau Mutual Insurance implemented the MapInfo Professional, MapMaker Plus and StreetPro applications, part of MapInfo's (Troy, N.Y.) Location Intelligence Technology suite.
The Centennial, Colo.-based P&C insurer previously used spreadsheets to analyze agents' books and determine where there was potential for new business. However, Colorado Farm Bureau's ($70 million in annual premium) 65 agents were challenged to decipher trends from the data, according to Rick Bender, the carrier's marketing manager. "We saw an opportunity for our marketing data to be more meaningful," he explains. "We thought if agents could see where their customers are located visibly, then that, in itself, would help them target sales."
The software populates maps with customized analytics from Microsoft (Redmond, Wash.) Access using a built-in geocoder. Next, the programs create visual representations of both sales and claims districts, and pinpoint agents' sales. "The maps help our agents see where the potential for business is, and that has put our rating territory on the map," says Bender.