Affinion Insurance Solutions, powered by Affinion Benefits Group, is bringing to market a seamless way for credit union partners to develop a deeper understanding of their membership base. Through a strategic partnership with Acxiom®, Affinion's LUX 360°SM solution provides clients with an analytics tool that sheds light on member demographics, financial profiles, and behavioral attributes, including Acxiom®'s PersonicX® Lifestage Cluster segment.
For over 45 years Affinion has helped credit union partners deliver effective insurance campaigns. Affinion's investment into bringing LUX 360°SM to credit unions 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 credit unions, 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 credit unions do not have. Including LUX 360°SM as part of a comprehensive marketing plan will help make member data more actionable than ever.
"Credit unions are constantly seeking innovative solutions that benefit their members," said Robert Dudacek, President, Insurance Solutions. "Now, our marketing partners will not only understand how their members are responding to our insurance marketing, but they'll also have a more powerful holistic view into their behavior. LUX 360°SM will provide Affinion's credit union partners with the ability to make stronger, more meaningful marketing decisions."
Credit unions interested in learning more about LUX 360°SM should visit letyourdatashine.com or contact their broker. CUNA Government Affairs Conference attendees can also learn more about LUX 360°SM by visiting the Affinion Insurance Solutions booth #658.