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Ethias Selects Earnix for Insurance Pricing and Customer Value Optimization
Pilot results indicate Earnix Optimizer can help Ethias improve retention, new business acquisition, and overall profitability by optimizing offers, prices, and channels to better match customer demand
New York, New York, July 21, 2009 – Ethias Group, a Belgium-based insurance company, has selected Earnix Optimizer to help the company improve customer retention, new business acquisition, and overall profitability by optimizing offers, prices, and channels to better match market demand and maximize customer lifetime value.
Used by leading financial services companies worldwide, Earnix Optimizer is an integrated software platform that empowers insurers and banks to maximize the value of customer relationships by utilizing predictive analytics and delivering the power of optimization to multiple points of customer interaction.
Earnix Optimizer enables Ethias to better analyze their existing data in order to more accurately segment and characterize customer and market demand. Using this information, Ethias can optimize the products offered to each customer, the rates at which they are offered, and the channels through which they are delivered (e.g. agency, website). As a result, the company is able to provide greater value to both existing and new customers, which in turn drive higher origination rates, increased market share, and improved profitability.
“Earnix enables us to maximize the value of our relationships with customers through better understanding of customer needs and market demand,” said Christian Haid, P&C Personal Line Director at Ethias Group. “While providing powerful optimization, it is flexible enough to allow us to incorporate our unique business objectives in the optimization process, which is critical to maintaining the harmony we seek between our profit goals and the principles of a mutual company.”
“We are excited to work with a company such as Ethias, which is known for its focus on the customer,” said David Schapiro, CEO of Earnix. “The selection of Earnix Optimizer following the rigorous evaluation process conducted by Ethias is a testament to the unique capabilities of the product as well as the dedication and expertise demonstrated by our team.”
Ethias Group provides insurance services to individuals, private affiliates, public authorities, and non-profit organizations. The company offers motor vehicle, driver, home and family, hospitalization, domestic servants, life accident guarantee, work accidents, property and casualty, machine breakage, group, and academic insurance for teaching personnel, as well as all-risk insurance services for the government sector and its employees, and to private individuals and companies. Ethias Group (formerly known as Societe Mutuelle Des Administrations Publiques) was founded in 1919 and is based in Liege, Belgium. For more about Ethias please visit www.ethias.be.
Earnix is a leading provider of customer value and pricing optimization software 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. For more about Earnix please visit www.earnix.com.