The latest for RiskMatch Retention Prediction
When we released RiskMatch Retention Prediction in 2020, we let you know what policies were at an elevated risk of churn, your historical retention trends, and industry benching. All of these are important data points when building your retention strategy. This was phase one.
Knowing a policy is at risk is useful. Knowing why is actionable.
Now we have introduced more in-depth details on high-risk policies, such as why they are considered high-risk. RiskMatch Retention Prediction also has new out-of-the-box reports and filtering options to help you find the data you need to protect and grow revenue.
Our retention prediction machine learning model evaluates more than 80 factors to determine policy-level churn risk and why a specific policy is considered high-risk.
The new risk report, Clients with Renewals, shows an aggregate of a client’s policies, premiums, commissions, and revenue and identifies the number of policies classified as high-, moderate-, or low-risk, providing you the data you need to prioritize your retention efforts.
More to come
Our roadmap for RiskMatch Retention Prediction includes even more ways for you to boost retention, uncover more cross-sell opportunities, and increase visibility in your book of business. We are planning improvements to the estimated revenue and cross-sell models.