News Article Published:
Tuesday, 17 April 2007
Category:
Insurance
Insurer Cornhill Direct is using predictive modelling marketing techniques to target new customers.
The provider began the project in February, which is planned for a four-month trial-period and aimed to enhance customer acquisition.
Predictive models will be developed for a number of Cornhill Direct's partners, including Reader's Digest.
Janet Woodley, affinity manager for Cornhill Direct, commented: "The models we will provide will ultimately enable Cornhill Direct and its affinity partners to significantly improve the performance of their acquisition strategies."
Ms Woodley added that predictive modelling can improve the performance of existing data and hence enlarge the customer base.
Predictive modelling uses known information to predict consumer behaviour about unkown variables and is often used to gauge the risk factor of potential customers.
Cornhill Direct provides car insurance, commercial vehicle insurance, home and travel insurance.
It is part of Allianz Cornhill, which is one of the UK's largest insurers and was voted General Insurer of the Year at the British insurance Awards.
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