Revenue Optimization through Effective Cross-Sell and Up-Sell Strategies for a European Specialty Insurance Provider .

Challenges.

The client faced significant challenges in optimizing revenue growth: 

• Revenue Growth Opportunities: Needed to enhance revenue through effective cross-selling and up-selling strategies. 

• Superior Targeting: Required improved targeting of policyholders to increase sales success. 

Solution.

Coforge implemented a comprehensive revenue optimization solution: 

• Customer Profiling: Analyzed customer data based on age, marital status, average ticket per transaction, mode of payment, etc. 

• Propensity Modeling: Determined the probability of cross-selling a product to policyholders using propensity modeling. 

• Campaign Design: Designed targeted campaigns based on probability scores and recommended cross-sell strategies. 

• Effectiveness Measurement: Developed a framework to measure campaign effectiveness by capturing prospect responses. 

Key Highlights: 

Coforge's solution delivered significant value to the client's operations: 

Offer Rejection Rate Reduction: Achieved up to an 80% reduction in offer rejection rates within one year of implementation. 

The Impact.