Insurer improves customer experience with AI-powered churn analytics

BUCYRUS, Ohio - Sept. 6, 2022 - PRLog -- Ohio Mutual Insurance Group is pleased to announce a new partnership with ReFocus AI, through which the two organizations will use applied data and analytics to predict customer churn and recommend retention actions for the mutual insurer and its independent agents.

Industry experts estimate that acquiring a new policyholder is 5-25x more expensive than retaining an existing one, but until now, there was no way to predictively anticipate if an account would churn. ReFocus AI's Converge platform offers a unique, turnkey solution that allows carriers like Ohio Mutual to leverage the predictive power of their member data to pinpoint the ideal retention action to reduce churn by as much as 25%.

"This tool helps us prioritize proactive attention to customers where our independent agents can add value," says Chad Combs, Vice President, Personal Lines Underwriting at Ohio Mutual. "We believe that AI-powered analytics can result in higher customer retention and significantly better customer experiences."

"We are excited about working with Ohio Mutual to redefine how carriers and independent agents collaborate to improve retention and better service their customers," says Colby Tunick, CEO at ReFocus AI. "We are proud to add a forward-thinking organization such as Ohio Mutual to our growing list of insurers and MGAs who are leveraging the Converge platform for unmatched retention analytics."

About Ohio Mutual Insurance Group

Ohio Mutual Insurance Group, founded in 1901 and based in Bucyrus, OH, partners with more than 400 independent agencies to distribute quality property and casualty insurance products throughout Connecticut, Indiana, Maine, New Hampshire, Ohio, Rhode Island, and Vermont. Ohio Mutual has maintained a rating of "A / Stable" from A.M. Best Co. for 3 consecutive years and has been named to the Ward's 50® nine times since 2009.

About ReFocus AI

ReFocus AI identifies your customers who are most likely to leave up to 6-months before the expiration date so you can prioritize activity to those where there are additional value-added services to provide. AI-powered churn analytics leads to higher customer retention and critically, better customer experiences. Learn more at www.ReFocusAI.com.

Contacts
Todd Boyer, VP Corporate Communications
Ohio Mutual Insurance Group
614.975.5781
tboyer@omig.com

Colby Tunick, CEO
ReFocus AI
619.492.5577
colby@refocusai.com

Photos: (Click photo to enlarge)



Read Full Story - Ohio Mutual Partners with ReFocus AI to Increase Retention | More news from this source

Press release distribution by PRLog