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Segmentation in insurance - knowledge management or operational challenge?

Insurance and Technology carried an interesting article by Cynthia Saccocia, Research Director in Tower Group's Insurance Practice - Know Your Customers. This summarized a key trend for insurers - approaching demographic bubble in retirees - but really focused on the use of analytics as a back-office tool for assessing how to segment these customers.

While this is key, it seems to me that insurers also have to face the challenge of operationalizing this kind of thing. Not only do many more of these retirees use the web (meaning that they want more and better self-service options and that cross-sell and up-sell must be done by automated systems), but the range of options available to them from companies competing with their traditional insurer has grown. Insurers trying to protect their customers as they near retirement and sell them more items will need to turn the analytic insight Cynthia describes into actionable decisions that can be embedded in call centers, websites, agency management systems etc.  This additional focus - not just insight but action - is key to an EDM approach.

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