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Kwik Fit Insurance selects Predictive Analytics Software from SPSS to drive policy renewal strategy

~ detailed customer segmentation and analysis to improve customer retention ~

September 29, 2009

Kwik Fit Insurance has selected Predictive Analytics Software (PASW®) from SPSS Inc., the leading worldwide provider of Predictive Analytics software and solutions, to analyse and understand customer motivations when purchasing insurance. The leading insurance intermediary will use PASW Statistics to develop its policy renewal strategy as it seeks to improve customer retention rates.

Kwik Fit Insurance is now in a position to fully understand which factors determine the likelihood that a customer will renew an insurance policy. Furthermore, PASW Statistics enables the insurer to present this research to key personnel within its business – making the technology an essential tool for the intermediary.

Executive quote

James Richards, commercial director, Northern Europe at SPSS, said: “In a highly competitive market, it’s the companies that truly understand their customers – behaviours, preferences, attitudes – that are most likely to succeed. Kwik Fit Insurance now has the knowledge and understanding to adapt its business, communicate more effectively and at the right point in time to remain competitive and financially responsible in these turbulent times.”

Customer quote

Speaking about the decision to purchase PASW Statistics, Kwik Fit Insurance group pricing director, Stephen Robertson, said: “The internet offers consumers access to hundreds of insurance options and prices, making it an extremely competitive market. PASW Statistics has given the business a clear and simple way of looking at customer groups, enabling us to develop different approaches for targeting these groups and ensuring the optimum customer retention strategy.”

Another crucial factor in Kwik Fit Insurance’s decision to purchase was the usability of the technology. Robertson added: “A major reason behind our purchase of PASW Statistics was the relatively simple nature of the software. Although it provides incredibly useful and complex statistical data, it presents it in a way that ensures it can be easily used by a non-technical audience to get fast, accurate results.”

About the company

About Kwik Fit Insurance
Kwik Fit Financial Services was launched in 1995 and has grown to become one of the UK's leading insurance distributors. The company’s award-winning call centre at Uddingston, Lanarkshire, employs almost 1000 people and handles more than 10 million calls every year. The core product remains car insurance, however the group now boasts a strong home insurance presence, an extensive range of additional insurance products alongside van, motorbike, pet and travel insurance.

About SPSS Inc. (www.spss.com)
SPSS Inc. is a leading global provider of Predictive Analytics software and solutions. The Company’s complete portfolio of Predictive Analytics Software <http://www.spss.com/software/?source=homepage&hpzone=nav_bar> (PASW) products – data collection, statistics, modeling and deployment – captures people’s attitudes and opinions, predicts outcomes of future customer interactions, and then acts on these insights by embedding analytics into business processes. SPSS Solutions address interconnected business objectives across an entire organisation by focusing on the convergence of analytics, IT architecture and business process. Commercial, government and academic customers worldwide rely on SPSS technology as a competitive advantage in attracting, retaining and growing customers, while reducing fraud and mitigating risk. Founded in 1968, SPSS is headquartered in Chicago, Illinois. For more information, please visit www.spss.com <http://www.spss.com/> .

Contact details

For further press information and photography please contact:
Alex Clough at LEWIS, the PR agency
Tel: +44 (0) 161 457 2055
Email: spssuk@lewispr.com
Website: http://www.lewispr.com

For enquiries about SPSS, please contact:
Emma Bennett
Tel: +44 (0) 1483 719 200
Email: ebennett@spss.com
Website: http://www.spss.com

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