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GMF Vie, a subsidiary of GMF Insurance, Boosts Conversion Rates as Much as 300% on Specific Campaigns using KXEN’s InfiniteInsight® - Company optimizes 17 million customer conversations across all of their customer-facing channels with predictive analytics - KXEN.com
GMF Vie, a subsidiary of GMF Insurance, Boosts Conversion Rates as Much as 300% on Specific Campaigns using KXEN’s InfiniteInsight®

 

NewswireToday - /newswire/ - Suresnes, Hauts de Seine, France, 2013/06/27 - Company optimizes 17 million customer conversations across all of their customer-facing channels with predictive analytics - KXEN.com. NYSE: SAP

   
 
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KXEN, the leading provider of predictive analytics for business users, today announced that GMF Vie is realizing a 200 300% increase in conversion rates for marketing campaigns targeting the top 10% highest-ranked customers identified by predictive models built with KXEN’s flagship product, InfiniteInsight®.

GMF Vie belongs to the COVEA Group, which is the French leader in Goods and Liability Insurance. It is a subsidiary of GMF Insurance, one of France’s largest providers of insurance products for Public Service Agents such as home, car and health insurance.

With more than 800,000 customers and over $1.6 billion in funds under management, GMF Vie is one of the French leaders for retail sales of life insurance products. With access to the more than 3 billion portfolio clients of its parent company, GMF Insurance, GMF Vie is able to use a wealth of data to boost customer acquisition, cross-sell, up-sell and customer lifetime value modeling.

GMF Vie has a sophisticated customer analytics strategy. Rather than using a single propensity model to see if an individual is likely to respond to a campaign, GMF Vie’s marketing team fine-tunes and combines various models to understand specific business questions, such as if a customer has financial capacity, is likely to churn in the next 3 months, is expected to move homes soon, or would be more receptive to an offer by phone, SMS or e-mail.

GMF Vie is not new to predictive analytics. In fact, the data mining team, which includes a number of trained statisticians, began using SAS, but found the tool time-consuming and its coding approach not user friendly, especially for preparing data used in predictive modeling. With SAS, it took weeks and in many cases 2 to 3 months to build predictive models which could sometimes lead to outdated results by the time the model was available.

In early 2007, after a test period, GMF Vie made the switch to KXEN's InfiniteInsight®. The company’s attentiveness to accuracy demanded a solution that could provide best-in-class predictive models while eliminating the gap in insight created by much slower, handcrafted data mining techniques.

GMF Vie’s customer analytics strategy includes collecting vast amounts of “big data” on their customers which is combined with third-party data like geo-marketing and demographic data. This valuable information is then consolidated into project-specific data marts by the data mining team with as many as 1,500 variables (raw data and/or derived variables) which describe the customers and their behaviors. KXEN analyzes this data to build customer segmentations and predictive models.

“KXEN delivers the best of both worlds,” said Christine Dalle, Head of BI & Customer Insight at GMF Vie. “KXEN's InfiniteInsight® is easy-to-use on volumes of big data while allowing us to build equally if not more accurate models in hours. This automated approach has boosted productivity in our research department allowing us to answer orders of magnitude more business questions.”

Today, GMF Vie is happy to say that their customer analytics efforts have resulted in very positive outcomes, achieving conversion rates that are, for example, 200 300% higher on the top 10% of highest-ranked customers identified by predictive modeling initiatives than un-modeled campaigns, like when recruiting new customers via a direct mail. For existing high-potential customers, when deploying an up-sell offer, GMF converts between 3 10% of the customers that they target, a rate which far exceeds industry benchmarks. In 2012 alone, GMF Vie personalized more than 17 million conversations across their customer-facing channels, including direct mail, e-mail, their website, SMS text messages, the call center and at the point of sale.

“No matter where the conversation takes place, GMF Vie is able to personalize each and every interaction to the individual, the channel, their interests and their behaviors,” said Christine Dalle. “KXEN is helping to drive significant returns on our customer analytics investments and to optimize our annual customer solicitation initiatives.”

“We’re ecstatic to see the tremendous results achieved by GMF Vie through our long-standing partnership,” said John Ball, CEO of KXEN. “We remain committed to GMF Vie’s success and to help today’s financial institutions optimize their customer relationships to gain a competitive advantage.”

About KXEN
KXEN (kxen.com) is revolutionizing the way companies use predictive analytics to make better decisions on petabytes of big data. Based on patented innovations, the company's flagship product, InfiniteInsight® and its pure cloud-based platform, Cloud Prediction™, delivers orders of magnitude improvements in speed and agility to optimize every step in the customer lifecycle including acquisition, cross-sell, up-sell, retention and next best activity. Proven with over 500 deployments at companies such as AAA, Allegro, Bank of America, Barclays, Belgacom, CBS Interactive, ING Direct, Lowe’s, Meredith Corporation, Mobilink, Overstock.com, PT XL Axiata, RealNetworks, Rhapsody, Rockwell, Rogers, Sears, Shutterfly, Stage Stores, U.S. Cellular and Vodafone, KXEN solutions deliver predictive power and infinite insight. KXEN is headquartered in San Francisco, California with field offices in the U.S., Paris and London.

 
 
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GMF Vie, a subsidiary of GMF Insurance, Boosts Conversion Rates as Much as 300% on Specific Campaigns using KXEN’s InfiniteInsight®

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