CNA Financial
Patrice Nolan
Market Research Analyst Tim Fleming
AVP & Actuary - Pricing
ABOUT CNA
• As the 8th largest U.S. commercial insurer and the 13th largest U.S. property & casualty insurer, CNA provides insurance protection to more than one million businesses and professionals in the U.S. and internationally.
• We understand the importance of being where our customers are
• Headquartered in Chicago, CNA has offices throughout the U.S., Canada and Europe
• In these locations, we work with highly professional independent agents and brokers to ensure our customers receive the personal service and attention they look for in a carrier
Prospect Development Project - Sales and Marketing Funnel
Prospect
Lead Analysis Utilizing Alteryx
Suspect
Submitted
Quoted
Booked
Retain & Grow
Sales Acceptance
Awareness
Engagement
Consideration
Lead Acquisition
AssociationsConference/
Event OtherProducer Interaction
Le
ad
Op
po
rtu
nit
y
Ac
co
un
t
3
Names acquired
Using Alteryx, lists scrubbed against CNA
policy data
Inforce, QNTs, recapture identified;
enables account-specific sales strategies
UW contacts distributor to ask for the business or cross-sell to existing
accounts
• Campaign tactics engage contacts and collect additional data, including current producer relationship
• Contact earns “lead score” based on behavioral actions and additional demographic data
+10 +10 +25When contact’s lead score reaches 100,
“warm lead” is passed to Sales and entered
into pipeline
Remaining suspects prioritized based on “preferred” risk criteria
and scoring model developed using Alteryx.
Entered into marketing campaign.
Sample Sales Campaign Utilizing Prospects
4
Scoring Model Developmentdata prep module
3/7/14
5
connect
format
join
Scoring Model Developmentpredictive analytics module
3/7/14
6
select
model
score
Scoring Model Development - Illustration
3/7/14
7
model configuration
scoring output
•A manual process that took days to scrub a list of prospects against CNA current and past insureds data can now be done in minutes
•The ability to develop and apply a predictive scoring model to a list of prospects that will lead to a prioritized list of preferred risks that will have a higher probability of success
•CNA now has the ability to provide actionable prospects to underwriters which will lead to productive conversations with CNA’s agents and brokers
•Opportunity to differentiate ourselves from our competitors
Prospect Development With Alteryx