Risk Metrics Corporation's New Web-Based Prospecting Tool Enables Property & Casualty Carriers To Capitalize On Their Market Opportunities By Offering A Unique And Compelling Competitive Advantage - Insurance News | InsuranceNewsNet

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August 14, 2006
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Risk Metrics Corporation’s New Web-Based Prospecting Tool Enables Property & Casualty Carriers To Capitalize On Their Market Opportunities By Offering A Unique And Compelling Competitive Advantage

 

Risk Metrics Corporation’s new web-based prospecting tool enables Property & Casualty carriers to capitalize on their market opportunities by offering a unique and compelling competitive advantage. This special advantage is based on an employer database of 3.4 million businesses which contains, for each business, their Workers Compensation, X-date, and carrier of record.

Boca Raton - Florida - August 8, 2006.

ProspectBase™ is a web-based knowledge, marketing, and sales information system for marketing, underwriting, agency management, and field associates. Associates can plan for and execute their premium growth and underwriting plans to achieve profit objectives. The purpose of ProspectBase™ is to be a resource to generate exceptional new business and cross-selling results while conserving marketing dollars.

What makes the ProspectBase™ system so unique is the combination of its unique database, search capabilities, ease of use, and the event-driven information that already has proven to be successful with over 1,500 agencies brokers and carriers.
The web-based ProspectBase™ Business Development System provides business intelligence to target high probability prospects, before they make their final decision for their annual insurance requirements. Each comprehensive prospect profile is compiled from Risk Metrics Corporation’s unique proprietary database of X-dates and carrier of record for over 3.4 million businesses.

Other sources of business intelligence include Dun & Bradstreet, InfoUSA, Experian, CorpTech Bank Source, and First American Real Estate Solutions. For carriers who operate in specialty markets, the ProspectBase™ System can include information germane to specific industries, such as technology and banking.

Property and Casualty field marketing, sales, and underwriting associates can easily search the ProspectBase™ Business Development System to find answers to:

  • Who are the absolute best prospects in my territory based on our underwriting guidelines?
  • How should we prioritize our direct marketing and sales activities using Workers Compensation, X-dates, and incumbent carrier of record?
  • Where are our best cross sell opportunities

For marketing and planning purposes, carrier associates can find answers to:

  • Where are our pockets of opportunity (low penetration-high opportunity)?
  • How should we prioritize our sales efforts and apply our resources?
  • How well has our agency system penetrated our target market
  • What geographic markets are over-performing/under-performing
  • How can we assemble, distribute, track, and measure interactions among field representatives, their agencies, and the carrier’s best prospects and customers?

"ProspectBase™ is like having a radar screen on the web for the enterprises best prospects. For carriers, working hard to improve their acceptance ratios, retention rates, as well as new business and cross-selling results, it is important they have a prospecting system to keep their best customers and prospects in constant view." said John McCarthy, President and Founder of Risk Metrics Corporation.

"One of the key benefits of the ProspectBase™ Business Development System is the ability for field associates to record their marketing and sales activities conveniently on their best prospects and customers." He continued to say "There was a recent article in the Wall Street Journal on knowledge management and how companies struggle to manage what employees learn," added Armand Benoit, Executive Vice President of Risk Metrics Corporation. "ProspectBase™ gives all management the tools to share knowledge and success stories among employees, and to store relevant information when an employee leaves or changes positions within a company."

ProspectBase™ is now available, and more information can be found at www.RiskMetricsCorp.com.

Risk Metrics Corporation specializes in providing marketing, research, distribution, and sales information systems for property and casualty carriers. DataLister, a division of Risk Metrics Corporation, specializes in providing prospect information systems to agencies and brokers.

Media Contact:

Ethel Facundo, VP Marketing
Risk Metrics Corporation
Telephone 561-392-8351
Fax 561-392-8229

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