What is Lead Scoring?

It is a procedure where you rate your leads according to their saleability. You can maximise the value of each lead that comes into your pipeline by using lead scoring. This mechanism aims to assist businesses comprehend why, how, and when to use lead scoring.

You may ascertain a prospect’s current degree of interest in your company when you establish a lead scoring programme and utilise that knowledge to drive sharper, more relevant engagement.

Acquiring new client

Insurance companies used to make random contacts to acquire new client. They are incurring lot of expenses towards contacting new customers for insurance sales. It has become a challenge to acquire new customers due to stiff market competition in the current situation. So, the insurance companies need to develop a customer prediction model through which they can identify potential customers / assess the propensity of their leads to make purchases and identify the significant factors behind customer acquisitions.

Why Lead Scoring?

Lead scoring goes beyond simple marketing tactics. It can increase the productivity of the entire company and facilitate team alignment across the several divisions of the company. The following effects of lead scoring on insurance business may occur if it is properly applied.

1. More effective marketing campaign: The company can determine the campaigns and distribution channels that provide high-quality leads by using lead scoring. Subsequently, they can modify your marketing plan to produce more quality leads.

• Increase in sales and marketing alignment: The main cause of the misalignment between sales and marketing is the lack of an appropriate lead scoring system. Every lead addressed to the sales department will be qualified if the company has a clear set of rules in place for scoring leads. This will improve the interaction between the two departments and allow for better sales and marketing alignment.

• Higher conversation rates in less time: Instead of unnecessary contacts, the campaign will be concentrated on potential buyers only. This lead-score based promotional campaign will save substantial time which may be utilised for the plausible clients.

• Higher revenue: It is easily understood that if the above three causes are met, effective cost of the insurance company for acquisition of new clients will be less. The company will have a boost in revenue by way of low-cost promotional campaigns.

Why ACLYSIS?

• ACLYSIS provides the Automated Machine Learning platform with no code decision making methodology.
• The entire process is automated which is simple, quick and accurate.
• Get instant output as per requirement.
• Save time and resources. 
• Number of unnecessary contacts will come down drastically.
• Contact only potential customers with more confidence.  
• understanding over the significant factors influencing customer acquisition. 
• Reducing operational & promotional costs to achieve higher profitability.