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Lloyds TSB Insurance Selects Earnix for Customer Value & Pricing Optimisation
Earnix Optimizer will significantly enhance Lloyds TSB Insurance’s pricing capability with real-time optimisation of new business, mid-term adjustments, and renewal quotations
London, England (PRWEB) September 3rd, 2008 – Lloyds TSB Insurance, a division of Lloyds TSB Group, has signed a multi-year agreement with Earnix to provide pricing optimisation and advanced analytics software solutions for its personal lines insurance business. Earnix Optimizer will be used by the underwriting division Lloyds TSB General Insurance as well as Lloyds TSB Insurance Services, an insurance broker.
The Earnix Optimizer predictive analytics platform will help Lloyds TSB Insurance determine the appropriate customer pricing strategies. Providing real-time quotations to call centre operators, branch agents, and on the company’s website, Earnix will enable Lloyds TSB Insurance to deliver the power of optimisation to all points of customer interaction.
Lloyds TSB Insurance’s decision to deploy the Earnix solution for its entire personal lines book follows extensive evaluation with results that have demonstrated substantial and quantifiable benefits delivered by the Earnix software.
“Earnix enables us to optimise pricing for our entire portfolio of branch network customers and for our broker business, including real-time quotes for new business, mid-term adjustments and renewals,” says Phil Loney, Managing Director of Lloyds TSB Insurance. “In addition, the system will allow us to upgrade our use of analytics in the area of customer interactions, realising the great benefits best-practice analysis could bring. Initial benefits from Earnix Optimizer have been very impressive and we look forward to rolling it out throughout our personal lines insurance business.”
“We are extremely honoured to be partnering with an industry leader such as Lloyds TSB Insurance,” said David Schapiro, Earnix’s Chief Executive Officer. “Their decision to continue working with Earnix is a testament to Lloyds TSB Insurance’s innovation, the significance of customer value optimisation to the insurance business, the depth of our solution, and the knowledge and dedication demonstrated by our team.”
To find out more about Earnix Optimizer for Insurance, please contact your local Earnix office or visit www.earnix.com.
About Lloyds TSB Insurance
Lloyds TSB Insurance is the insurance division of Lloyds TSB Group. It comprises Lloyds TSB General Insurance Limited, an underwriter, and Lloyds TSB Insurance Services Limited, an insurance broker representing nine panel members. Lloyds TSB Insurance provides financial protection through its motor, home, travel, pet, business and creditor insurance products and is the largest provider of home insurance in the United Kingdom.
Earnix is a leading provider of customer value optimisation solutions for insurers and banks. Earnix solutions are used by leading financial services companies worldwide to optimise 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 optimisation 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.
For More Information Please Contact:
Ms. Inbal Chen
Tel: +44-207-8126633 (UK), +1-646-756-2840 (US)