Risk of Policy Lapse
Once a life insurance customer decides to “cash out” it is too late for an attempt to retain them. Automation Hero can reduce the money outflow by alerting the insurance broker of the risk before a customer cancels their policy.
Automation Hero can analyze customer behavior and engagement to assess the risk of a lapse in coverage and triggers an alert to the broker. Once the broker is informed, Automation Hero’s system can help augment their next steps to retain the customer.
This could be offering recommendations on different insurance policies that could better fit the customer’s needs or remind reps to follow up on upcoming payment deadlines should a customer have a previously missed payment.
Companies using Automation Hero to augment sales rep’s decision making see between a 5 – 10% uplift in revenue.