Gathr Industry Impact Study: Automotive Insurance
By: Daniel Howard
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Analysing the characteristics, desires, and behaviours of your customers can be incredibly important to excel in a competitive industry. If you want to keep up with customer expectations in an increasingly accessible and digital world – not to mention with your competitors, who will be attempting to do the same – customer analytics and insights are practically essential.
This is true in the vehicle insurance industry as much as anywhere else. Said industry is increasingly investing in sophisticated analytics solutions in order to offer dynamic, personalised pricing plans and options to its customers. Usage-based insurance, for instance, uses customer demographics, behaviours, and applicable external factors (such as vehicle risk, or driving conditions) to create a customer experience that is tailored to each individual, thus improving customer retention and satisfaction. In this report, we demonstrate Gathr’s ability to create such an analytics solution, using the automotive insurance industry as our guiding example.