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Affinion Insurance solutions makes big data attainable for Banks

FRANKLIN, Tenn., Feb. 21, 2017 /PRNewswire/ -- Affinion Insurance Solutions, powered by Affinion Benefits Group, is bringing to market a seamless way for bank partners to develop a deeper understanding of their customer base. Through a strategic partnership with Acxiom®, Affinion's LUX360°SM solution provides clients with an analytics tool that sheds light on customer demographics, financial profiles, and behavioral attributes, including Acxiom®'s PersonicX® Lifestage Cluster segment.

For over 45 years Affinion has helped bank partners deliver effective insurance campaigns. Affinion's investment into bringing LUX360°SM to banks will result in partners having access to a comprehensive data analytics package that will deliver actionable data that can be used to drive strategic decision-making around account acquisition, product development, and marketing. Estimates show that the price tag for many financial institutions to develop and maintain a "single source of truth" data warehouse is approximately $2M over 4 years.[1] For many banks, building and maintaining a data warehouse simply isn't feasible. Even when possible, sorting through the vast amounts of complex data and making the best decisions on who to market and what channel to use can be overwhelming and require access to resources that many banks do not have. Including LUX360°SM as part of a comprehensive marketing plan will help make customer data more actionable than ever.

"Banks are constantly seeking innovative solutions that benefit their customers," said Robert Dudacek, President, Insurance Solutions. "Now, our marketing partners will not only understand how their customers are responding to our insurance marketing, but they'll also have a more powerful holistic view into their behavior. LUX360°SM will provide Affinion's bank partners with the ability to make stronger, more meaningful marketing decisions."

Banks interested in learning more about LUX360°SM should visit lux360.affinion.com. ABA National Conference of Community Bankers attendees can also learn more about LUX360°SM by visiting the Affinion Insurance Solutions booth #208.

About Affinion Insurance Solutions

As a market leader with 45 years of experience, Affinion Benefits Group ("Affinion Insurance Solutions") enhances the value of our partners' customer relationships with insurance programs that increase customer loyalty. Affinion Benefits Group is one of the largest insurance third party administrators in the country, and is dedicated to planning, creating, producing, and analyzing thousands of insurance marketing campaigns annually. Our time-tested insurance products from top-rated carriers include: Accidental Death and Dismemberment Insurance, Term Life, Hospital Accident Protection, Recuperative Care Plan, Simplified Issue Term Life and Graded Benefit Whole Life Insurance. Affinion Benefits Group (an Affinion Group company) holds the prestigious ISO 27001 certification for the highest information security practices and is PCI compliant. For more information, visit http://www.affinioninsurancesolutions.com.

[1] Fintech Startups and Smartphone Adoption Drive Bank and Credit Unions to Innovate, OnApproach 2016

SOURCE Affinion Insurance Solutions



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