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Affinion Insurance Solutions Makes Big Data Attainable for Banks

 

Affinion Insurance Solutions, by Affinion Benefits Group, is bringing to market a seamless way for bank partners to develop a deeper understanding of their customer base. Through a strategic partnership with Acxiom®, Affinion’s LUX360°SM solution provides clients with an analytics tool that sheds light on customer demographics, financial profiles, and behavioral attributes, including Acxiom®’s PersonicX® Lifestage Cluster segment.

For over 45 years Affinion has helped bank partners deliver effective insurance campaigns. Affinion’s investment into bringing LUX360°SM to banks will result in partners having access to a comprehensive data analytics package that will deliver actionable data that can be used to drive strategic decision-making around account acquisition, product development, and marketing. Estimates show that the price tag for many financial institutions to develop and maintain a “single source of truth” data warehouse is approximately $2M over 4 years.1 For many banks, building and maintaining a data warehouse simply isn’t feasible. Even when possible, sorting through the vast amounts of complex data and making the best decisions on who to market and what channel to use can be overwhelming and require access to resources that many banks do not have. Including LUX360°SM as part of a comprehensive marketing plan will help make customer data more actionable than ever.

According to Robert Dudacek, President, Insurance Solutions “Banks are constantly seeking innovative solutions that benefit their customers,”. “Now, our marketing partners will not only understand how their customers are responding to our insurance marketing, but they’ll also have a more powerful holistic view into their behavior. LUX360°SM will provide Affinion’s bank partners with the ability to make stronger, more meaningful marketing decisions.”

This article was originally publshed on www.prnewswire.com and can be viewed in full

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