Customer Segmentation

The ability to segment customers according to their likely behavior and potential profitability is key for gaining a complete understanding of customers – and understanding customers is more important than ever for insurance companies, where intense competition, declining customer loyalty and high lapse rates continue to erode profit margins. SAS employs decades of industry experience to help you combat these issues with more effective customer communications.

Many insurance providers struggle to segment their customers effectively, often because they have difficulty making sense of the huge volumes of customer data that exist throughout the enterprise. Insurers frequently lack the ability to track changes in customer segments as well – such as changes in life stage or overall buying habits – leaving no way to evaluate the long-term success of their marketing efforts.

Insurers can use the analytical depth of SAS to help marketers create more accurate customer segments and predict customer behavior, which in turn gives insurers the power to create better-targeted product offers, product communications and bundled services.

How SAS can help

SAS uses demographic, geographic, attitudinal and behavioral data available from across the enterprise, as well as information from analytical applications, to develop highly accurate segments. These segments can provide relevant channel support and aid marketing efforts by supplying customer intelligence to insurance intermediaries.

With SAS, you can:

• Create manageable groups for targeted activities such as underwriting and marketing campaigns.
• Identify attributes, needs and wants of each customer group.
• Compare the characteristics of different segments to determine segment-specific actions.
• Set effective measurable goals for each segment.

Looking for more information on Customer Segmentation? Watch the on-demand Webcast Supercharging Your Business Intelligence with Text Analytics. Sign up for one of our free e-newsletters. Read related success stories. Ready to put THE POWER TO KNOW® to work for you? Contact your local SAS office or call us toll free at 800-727-0025 (US and Canada). Contact SAS for pricing information and to learn more about our products and solutions.		Watch the on-demand Webcast Supercharging Your Business Intelligence with Text Analytics