Lincoln Financial Distributors Builds Data-Driven Strategies with SPSS Predictive Analytics
This is a dated announcement. The material in this announcement could be superceded by more current announcements.
Lincoln Financial Distributors, Inc., the wholesale distribution and marketing arm of Lincoln Financial Group (NYSE: LNC), has selected market-leading Predictive Analytics software from SPSS Inc. (Nasdaq: SPSS) to help gain a deeper understanding of its financial intermediary customer base and use that knowledge to develop more effective sales and marketing campaigns.
Lincoln Financial Distributors sells Lincoln-manufactured variable and fixed annuities, life insurance, long-term care insurance, and investment management products through third-party financial intermediaries. As the premier wholesale distribution company in retail financial services, Lincoln Financial Distributors is building data-driven strategies to better understand its financial intermediary customers, and optimize the acquisition, development, and retention of its customers through Predictive Analytics.
Lincoln Financial Distributors selected SPSS Predictive Analytics to segment and understand its customer base, and to implement actions that can help to increase retention. Using SPSS’ software and careful analysis, the organization will be ableto reach out to customers to strengthen relationships and create long-term loyalty.
“SPSS Predictive Analytics enables our organization to interact more effectively with our customers, since we’re able to identify which interactions are most valuable to them,” said Matt Wroblewski, director of marketing research at Lincoln Financial Distributors. “SPSS software created a significant change in the way Lincoln Financial views and uses its data. We’re able to use data and analytics to make smarter and more strategic decisions that are directly tied to our business goals.”
Lincoln Financial Distributors also plans to use SPSS to build predictive models for financial intermediary acquisition, up-sell and cross-sell opportunities. The organization will be able to build analytics into their acquisition processes to target the right intermediaries with the right financial products at the right rates.
Jack Noonan, SPSS chairman, president and CEO, said, “SPSS Predictive Analytics helps leading financial firms, such as Lincoln Financial, add sophisticated analytics to their operations and align themselves around their most valuable asset – their customers. With SPSS Predictive Analytics, customers in any industry are able to maximize customer value by transforming data into important insight.”
Twenty of the top 25 global banks use SPSS for customer segmentation, customer acquisition, customer growth, risk management and fraud detection.
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