Bancassurance: Leveraging Touchpoints with Data Science to Foster Cross-Selling
The very ambition of a bancassurance partnership is to deepen customer engagement, through an extended client reach and to create additional cross-selling opportunities. To some extent, existing partnerships do achieve those benefits. But could they do it more efficiently? At Sia Partners, we believe that most bancassurance partnerships could do much more by leveraging the right touchpoints and by making use of open data. In this article, we will illustrate our case by going through the example of one of our data science bots. This bot was built to help bancassurance partners sell home insurance on a set of banking uses cases (when opening a retail bank account, when changing banking address, when applying for a New Mortgage Loan, etc).