2018 Winner Profile

Securian Financial Group

Project Description:
Securian Financial Group's Retail Distribution Analytics program uses modern data infrastructure, advanced predictive modeling techniques and data visualizations to help its individual annuity sales team prioritize among 80,000 financial advisor/agent contacts, drastically reducing the time needed to identify their "next best contacts." The primary objective of the Retail Distribution Analytics program, which blends the "art of selling" with data-driven decision-making, is to increase sales. Securian is using advanced modeling techniques (e.g., random forests) to generate accurate and actionable results to ensure that it is uncovering the highest priority contacts for the sales team. The models are very effective in identifying specific financial advisor/agent behaviors. For example, financial advisors/agents identified by the company's "prospecting" model have an approximately 30 times higher conversion rate than those chosen at random. The Retail Distribution Analytics program has contributed over $42 million of incremental sales since early 2016. This represents approximately 2.5 percent to 3 percent of Securian's individual annuity sales since early 2016.
Business Goal:
Financial Impact
CIO:
Siddharth Gandhi, Vice President, Chief Strategy and Enteprise Technology Officer
CEO:
Christopher Hilger, Chairman, President, and CEO
Headquarters:
Saint Paul, Minn.
Industry:
Insurance
Website:
www.securian.com
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