Objective

To improve sales “win rates” by employing data analytics to create “smart selling” strategies for the sales team.
 

CRISIL's Solution
 

• CRISIL worked with the client to build a comprehensive product comparator database (a product intelligence repository), analyzing product-specific attributes and benefits to empower its sales force and help achieve excellence in smart selling
  
• Coverage included 45 US states, 8 products, 17 carriers and 2 platforms
  
• CRISIL created more than 1,700 product comparisons, capturing more than two million data points from product filings for accident, cancer, critical illness, hospital indemnity, short-term disability, life insurance (whole and term), dental and vision
  
• CRISIL created product comparisons (pocket guides) listing key attributes and benefits, points of parity and difference across product types to derive competitive advantage on a large scale
  
• The final product helped the client’s sales team achieve more high-impact meetings through precise matching of product and product features to client needs and behaviours 
  

Client impact
 

• Client win rates improved 18%
  
• Initial success led to expansion of the program and the creation of product-tip sheets—on-the-fly pocket guides – to help sales teams navigate client conversations towards a win, in an efficient, measurable manner
  

Questions

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