New Resonate AI-Powered Insurance Data Solution Offers

RESTON, Va., March 30, 2023 (GLOBE NEWSWIRE) — echoa leading provider of AI-powered consumer data and intelligence, has launched Resonance Insurance solution, featuring hundreds of insurance-specific data attributes including demographics, psychographics, behavior, sentiment, intent, and value of current insurance customers. This industry-specific data set, combined with Resonate’s thousands of additional attributes, enables insurers to enrich their existing data to gain a holistic ‘human’ understanding of their customers and prospects to drive growth and revenue more efficiently and effectively. Resonate Insurance’s data is scaled to 230 million consumer profiles and 1 billion devices, providing the freshest and most comprehensive dataset for better analytics, modeling, and targeting performance.

“Today’s auto, property and life insurance providers do not have the first-party data necessary to fully understand their customers or prospects, which is hindering revenue growth,” said Bryan Gernert, Chief Executive Officer of Resonate. “Resonate provides insurers with a rich, continuously updated, and privacy-safe data set that broadens existing insurers’ customer profiles and prospects. In the insurer ecosystem or on our Resonate Ignite platform, this unrivaled data set, powered by cutting-edge AI, helps insurers correctly predict consumer behavior and drive more effective data-driven marketing at all stages of the customer lifecycle, generating revenue.”

Insurers’ marketing effectiveness is hampered by limited low-quality first-party and third-party data, which makes it difficult to create personalized marketing experiences with customers and prospects.

With Resonance Insurancemarketers gain access to:

  • A complete view of the US insurance market, both national and local, covering 230 million consumer profiles
  • A robust suite of psychographics, behaviors, preferences, and in-market data, including intention to switch, product selection considerations, reasons for switching, life stage data, motivational decisions personal values, and more
  • Access to digital and offline media consumption insights for more effective media planning and accurate targeting without using proxy audiences.

Additionally, marketers can use Resonate Insurance to enhance acquisition, retention, and upsell/cross-sell initiatives for:

  • Get new policyholder: By leveraging Resonate’s extensive consumer data set, including hundreds of insurance industry-specific attributes, marketers can identify and target people who currently have insurance policies with competitors and uncover specific vulnerabilities they can leverage to win customers. Using Resonate Insurance’s data, insurers can better design products, services and messaging, and target them more accurately across all media channels. They can use this rich psychographic insight to help better convey personalized messages and can build more powerful lookalike segments to target their most profitable audiences.
  • Monetize existing policyholders: Insurance companies can better understand their existing policyholder base and precisely target and message these individuals to upsell and cross-sell using data that frames what they care about most when it comes to selecting an insurance product.
  • Retaining existing policyholders: Insurance companies can predict more precisely who in their policyholder base is most likely to churn and why. Using this insight, companies can develop personalized products, services and messaging based on their preferred preferences for insurance and target them across the digital channels where they spend the most time.
  • Increase the lifetime value of the policyholder: Insurance companies can more accurately model who in their existing customer base is shopping and likely to purchase additional products by leveraging Resonate’s life stage insights to understand major events, such as buying a car, and personalizing messages to increase the likelihood of an upsell.

About Resonance
Headquartered in Reston, VA, Resonate is a pioneer in data and AI-driven intelligence, bringing privacy-protected and proprietary consumer data to insight, analysis, and activation. The Resonate data set includes more than 14,000 rich and relevant real-time data points that holistically describe more than 230 million Americans. Resonate data is delivered via data augmentation, the easy-to-use Resonate Ignite platform or via the highly rated Resonate Managed Media Service. Hundreds of companies use Resonate to drive more effective marketing strategies and execution driven by a more comprehensive understanding of their audience that goes beyond traditional demographic, psychographic, and behavioral data to uncover why people choose, buy, or endorse certain brands, products, or causes.

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