ValChoice Uses Analytic Rankings to Help Consumers Find Insurance
Laura McQuarrie — March 11, 2016 — Autos
References: insurancenetworking & valchoice
ValChoice makes it extremely easy for drivers to find insurance that will offer the right kind of coverage they need for their car.
Comparisons between car insurance companies are analyzed against one another based on three main factors: price, protection and service. With these factors in mind, users are able to run a search for the best possible provider, two of the best options or compare choices from three leading providers.
An platform like ValChoice that runs on analytics appeals to consumers who want to save themselves the hassle of shopping around for the best coverage plans and providers and find the best results online with a single click. Like ValChoice, there are a number of emerging companies that are turning to data-driven platforms to enhance the kinds of customer service they can offer.
Comparisons between car insurance companies are analyzed against one another based on three main factors: price, protection and service. With these factors in mind, users are able to run a search for the best possible provider, two of the best options or compare choices from three leading providers.
An platform like ValChoice that runs on analytics appeals to consumers who want to save themselves the hassle of shopping around for the best coverage plans and providers and find the best results online with a single click. Like ValChoice, there are a number of emerging companies that are turning to data-driven platforms to enhance the kinds of customer service they can offer.
Trend Themes
1. Analytics-driven Insurance Comparison - Adopting smart analytics to enable customers to quickly choose the best coverage from a wide variety of insurance providers, scorecards can be developed that allow an easy comparison between rival plans, and ultimately lead to improved customer satisfaction.
2. Insurance Recommendation Platforms - Creating intelligent systems that recommend the best possible insurance companies and policies as per each customer's unique preferences, driving records, and situations, helping insurers to offer personalized customer-focused services and fostering brand loyalty.
3. Automated Insurance Coverage Management - Designing AI-driven platforms that automate the process of selecting and managing the best possible insurance policies, enabling consumers to prevent potential losses, foresee upcoming risks, and optimize their insurance premiums, ultimately resulting in cost savings and better risk management.
Industry Implications
1. Insurance - Insurance companies can leverage the power of AI and machine learning to design next-gen customer service interfaces, improve their offerings, and provide personalized policy recommendations that meet their clients' unique needs.
2. Financial Services - By applying analytics and intelligent algorithms to analyze insurers' data and evaluate the competitiveness of their products in real-time, fintech companies can revolutionize the insurance industry and gain a competitive edge over traditional brokers and insurance agents.
3. Automotive - Car manufacturers can collaborate with auto insurance firms to develop innovative products that promote safe driving, using cutting-edge technologies such as telematics, sensors, and intelligent infotainment systems that reward drivers for good driving behavior and reduce accidents.
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