Leading Insurer Keeps Track of Customer Moves
The Challenge
A timely, cost-effective way to accurately track customer changes of address.
The Company
One of America’s largest P&C insurers.
The Story
Company needed a way to reduce costs associated with customer moves and enhance their overall communication management. They mail over 200 million documents a year, and 17 percent of their customers and prospects change their addresses annually. In order to reduce churn, decrease return mail costs, speed time-to-payment for receivables and reduce liability, the company called upon Pitney Bowes Group 1 Software for a reliable move update solution. Now, the organization can easily access the address changes of the millions of U.S. households and businesses that move each year.
The Benefits
Significantly Reduce Costs
This insurer is projected to save more than $20 million during the next four years in return mail postage, remailing, move update, labor and customer service costs.
Increase Customer Retention
The firm improves its competitive position by remaining in contact with existing customers when they move, and by targeting prospects as they change addresses.
Improve Cash Flow
Accurate changes of address mean faster and more accurate billing, and reduced late or missed payments.
Better Productivity
All processes — from file origination through printing and reporting — have become automated in the job stream.