Your Back Book is a Goldmine. Are You Digging Deep Enough?
In the quest for growth, insurers often focus on acquiring new customers. But what about the goldmine already sitting in your existing portfolio? Your back book holds a wealth of untapped potential - if you have the right tools to unlock it.
The problem is, many insurers are working with outdated or incomplete data. They may know the basics about a property - its address, its age, its general construction type - but they're missing the crucial details that could reveal hidden risks and hidden opportunities.
Chimnie: Illuminating the Hidden Value in Your Portfolio
At Chimnie, we help you see your existing portfolio in a whole new light. Our granular property data allows you to:
Identify Undervalued Risks: Discover properties that are underinsured due to inaccurate rebuild cost estimates or overlooked risk factors.
Spot Opportunities for Upselling: Find customers who might benefit from additional coverage based on their property's unique characteristics (e.g., flood risk, subsidence risk, proximity to hazards).
Segment Your Portfolio with Precision: Target specific customer groups with tailored products and marketing campaigns.
Improve Retention: Offer proactive risk mitigation advice and personalised service, building stronger customer relationships.
Find those properties at risk From subsidence, to properties with trees that could be a hazard.
Example: The Undeclared Farm
Imagine a customer insured as a standard residential property. But Chimnie's data reveals multiple outbuildings, large land areas, and planning permissions related to agricultural activity. This suggests the property is actually a working farm, operating with inadequate coverage. This is a risk for the insurer and a missed opportunity to offer the right policy.
Example: The Renovation Opportunity
Chimnie's data shows that a property has recently undergone major renovations, significantly increasing its rebuild cost. This presents an opportunity to engage with the homeowner, ensure they have adequate coverage, and build a stronger relationship.
Don't Let Hidden Value Slip Through Your Fingers
Your existing portfolio is a treasure trove of data. Chimnie provides the key to unlocking its full potential.
Mine your data gold. Contact us at hello@chimnie.com to learn how our granular property data can transform your portfolio management.
