FirstMark Insurance Group Announces Partnership with ReFocus AI to Increase Retention
Insurance Broker improves customer experience with AI-powered churn analytics
By: ReFocus AI
Industry experts estimate that acquiring a new policyholder is 5-25x more expensive than retaining an existing one, but until now, there was no way to anticipate if an account would churn predictively. ReFocus AI's Converge platform offers a unique, turnkey solution that allows brokers to leverage the predictive power of their policyholder data to pinpoint the ideal retention action to reduce churn by as much as 25%.
"The ReFocus AI platform allows us to better serve our clients by understanding their concerns and how best we can serve them," says Christina Lynch, COO of FirstMark. "These insights will help us realize 2% more growth and prioritize our efforts around renewals. We believe that AI-powered churn analytics will result in higher customer retention and significantly better customer experiences."
"We are excited about working with FirstMark to improve retention and better service their customers," says Colby Tunick, CEO at ReFocus AI. "We are proud to add a forward-thinking organization such as FirstMark to our growing list of insurers and brokers who are leveraging the Converge platform for unmatched retention analytics."
About FirstMark Insurance Group
We started FirstMark Insurance Group because we don't believe insurance has to be a cold, boring, impersonal, or antagonistic experience. We want to build real relationships with people who value something more than just the cheapest price.
As a FirstMark Insurance Group client, we promise to provide you with the best customer experiences you will ever have. You have choices when it comes to who you do business with, and our belief is that no one can do insurance better than us. We will always deliver the best value to you. Learn more at https://firstmarkinsurance.com/
About ReFocus AI
ReFocus AI is an account servicing platform that pinpoints which policyholders are most likely to leave at their expiration date with 90 percent accuracy up to six months before the renewal date. The machine learning platform automates attrition detection for small and mid-sized personal & commercial Property & Casualty accounts. On average, ReFocus clients have increased policyholder retention by 20-25 percent. Learn more at www.ReFocusAI.com.