A financial institution increased bancassurance sales and profit by implementing a customized Next Best Action Strategy and making highly relevant offers.
Our client, a well-established Greek bank, aimed to optimize its performance in selling bancassurance products in a challenging economic environment. Prioritizing the sales activity in a target universe of 13 million sales leads was key to improving results. The project scope included six bancassurance products and two sales channels:
Linakis.digital was appointed to empower sales teams with essential insights to increase their productivity, profitability, and overall performance.
We analyzed the vast amount of data to generate insights and empower the bank to maximize revenue production opportunities. Our approach comprised of:
Combining customers’ profiles with the bank’s business objectives, we delivered a targeted approach that is more efficient for the bank and more relevant to each customer. The use of Advanced Analytics resulted in an improved sales performance in terms of profit and the number of products sold. With the Sales Leads Prioritization Analysis provided by Linakis.digital, the bank achieved:
Using insights generated by advanced analytics methodologies combined with business expertise, organizations acquire the ability to optimize leads targeting across multiple distribution channels. They can make informed decisions about which product to offer to each customer and in what order to improve servicing and bottom-line results.
We at Linakis.digital, handle each business case following a holistic approach, which includes a thorough understanding of the business requirements, a perceptive view of the customer portfolio dynamics & challenges and a realistic and actionable solution-based strategy.