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Earnix Receives Patent Recognition for Innovative Method for Maximizing Customer Lifetime Value in Financial Services
Ramat Gan, Israel, February 6, 2008 – Earnix, a provider of customer-centric optimization solutions for the insurance and banking industries, announced the approval by the US Patent Office of an Earnix patent application, covering an innovative method for optimizing customer lifetime value.
The methodology and algorithms developed by Earnix enable companies to predict the impact of different product offerings and pricing scenarios on the profits generated from each customer over any selected time horizon. Using the Earnix solution, financial services companies are able to offer products, set prices, and utilize sales channels that maximize customer lifetime value.
The patent innovation is a result of years of cutting-edge research and engineering effort, led by two of the world’s most prominent experts in customer-centric analytics for the financial services: Samuel Krikler, Earnix’s CTO and co-founder, and Jacob Eckel, Vice President of Research and Development.
“This patent approval is a rewarding recognition of the long-standing leadership role that Earnix has taken in transforming advanced analytical capabilities into actionable customer insights”, said David Schapiro, Earnix’s CEO. “Beyond a technological breakthrough, this innovation has practical applications that allow insurers and banks to incorporate the long-term view into the ongoing management of customer relationships. It is a competitive weapon that enables companies to improve business performance while better serving their customers.”
Earnix is a leading provider of customer value optimization solutions for insurers and banks. Earnix solutions are used by leading financial services companies worldwide to optimize customer relationships and drive significant improvements in profitability. The company is led by a team of seasoned professionals with significant financial services background combined with expertise in optimization technology and enterprise software development. Earnix is privately held and funded by prominent venture capital firms.