Onesurance in De Verzekeringswereld and Le Monde d'Assurance
Interview on AI technology that predicts client behaviour for brokers and insurers.
In the May 2024 edition, Onesurance is featured in two Belgian trade publications: De Verzekeringswereld (Dutch-language) and Le Monde d'Assurance (French-language). In an extensive interview, Dennie van den Biggelaar, Jack Vos and Jan Andel explain how AI technology helps brokers and insurers steer proactively.
Predicting who leaves -- and who stays
Onesurance predicts with 90% accuracy which clients will cancel a policy within twelve months. But it goes beyond lapse prediction alone. By also calculating Customer Lifetime Value, a brokerage can take targeted action with the clients who matter most. The result: a reduction in lapse rates of up to 50%, proven with control groups.
From retention to growth
Once lapse rates are under control, the focus shifts to portfolio growth. The Next Best Policy module predicts which insurance product a client is likely to need in the near future. The most effective way to grow is to sell more policies to existing clients. Based on data, Onesurance also identifies the most promising new prospects in the region.
Scalable and affordable
The technology is built to scale, which also makes it affordable for brokerages. For firms that collaborate in groups -- through organisations such as FVF, BZB-Fedafin or Feprabel -- Onesurance offers group modules, regardless of who the individual members are.
Ethics and privacy first
All data is ingested in anonymised form. Onesurance never works with data that can be traced back to an individual. An ethical review cycle is completed for every recommendation. Methods are continuously screened by Cronos Group, and all algorithms are transparent and explainable.
Legacy is no excuse
Even insurers with older systems can get started. Through APIs, Onesurance extracts data from legacy systems, trains the algorithms and feeds client predictions back into the relevant system. Those who wait too long are doing their clients a disservice in both quality and cost of service.
Download the publications
- De Verzekeringswereld -- Onesurance Interview (NL, PDF)
- Le Monde d'Assurance -- OneSurance Interview (FR, PDF)