Sisense Fusion Platform helps company identify more than $50 million in upsell opportunities and immediately increase company revenue by 2%
Sisense, the leading AI-driven platform for infusing analytics everywhere, announced that Hastings Mutual has tapped into the power of Sisense to transform into a data-directed organization. Since deploying the Sisense Fusion Platform, Hastings Mutual has experienced a 2% increase in revenue, and discovered over $50 million in potential upsell opportunities.
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A leader in providing top-quality insurance in its field since 1885, award-winning Hastings Mutual provides commercial, personal and farm insurance regionally in the MidWest.
Read the Case Study: Insurance leader gains revenue and competitive advantage with analytics
“Sisense offered not only the next generation of analytics, but also the solid data modeling capabilities that our team needed to take the business to the next level, coupled with an intuitive, easy-to-use tool that democratizes data by putting analytics back in the hands of the users,” said Randy Sykes, Hastings Mutual’s IT Director of Data Services. “Sisense has been an integral part of our whole data strategy, where we not only look at where the data is coming from, but also examine how to put data into the hands of the decision-makers.”
Hastings Mutual wanted to democratize data to support effective business decisions and processes. Prior to engaging Sisense, the team was using static mainframe reports based on data that was 30-45 days old. The team needed a solution that would increase speed to insight, accelerate their time to market and organize and present data in a way that would make it easier for end-users to understand requisite data sources and relationships which would empower them to build their own dashboard visualizations.
Hastings Mutual recorded immediate results with its first Sisense use case in the commercial underwriting area, with an increase of 2% in revenue. Through the agency platform, they were also able to identify upsell opportunities worth over $50 million for their agency partners.
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Hastings Mutual also embedded Sisense analytics into its agency portal, to create visualizations of an independent insurance agency’s book of business including where things stand with premiums, losses, and plans. This provides Hastings Mutual’s business partners with a complete financial picture of their on-going business with Hastings Mutual. Information about upcoming renewals and potential business upsell opportunities helps partner agencies drive retention and growth.
The company has also been able to use geospatial insights like weather with data from NOAA, which resulted in more than $150,000 in cost avoidance annually.
“Hastings Mutual understands that business users want insights that will help them make smarter decisions which is aligned with Sisense’s mission to infuse analytics everywhere,” Scott Castle, SVP of Product at Sisense said. “We believe in providing data to users where they want it, and when they want it, so they can take those insights and make the best business decisions needed.”
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