Ohio Mutual and ReFocus AI are pleased to announce a new partnership, 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.”