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The platform can deliver up to 60% savings in customer acquisition costs and significant growth in the conversion of customers with the highest value

TORONTO, ON / ACCESSWIRE / February 25, 2021 / EQ Inc. (TSXV: EQ) (“EQ Works” or “EQ”), a leading provider of spatial location data and artificial intelligence, is pleased to announce its partnership with Opta Information Intelligence (Opta), Canada’s largest provider of real estate location information, to announce Delivering a unique digital marketing solution to the Canadian insurance industry.

Opta Digital Edge combines EQ’s Artificial Intelligence (“AI”) and machine learning technology with proprietary Opta and EQ consumer records to help insurers find their ideal target customers with scalability and precision. A recent proof of concept at a digital insurance company in Canada resulted in a 60% reduction in acquisition costs and a 3-5x improvement in new customer conversion.

“A key part of EQ’s data solution is to enable the seamless integration of a company’s first-party and CRM data on a large scale,” said Dilshan Kathriarachchi, chief technology officer, EQ Works. “Today’s businesses need privacy solutions and flexible tools that enable organizations to add signals to their own data and train AI models that are tailored to their individual needs. This is where we, as a business, focus, and business results speak for themselves. “”

“We’ve seen dramatic improvements in new business generation at very competitive cost. By working with EQ, we’ve been able to add proprietary attributes that changed the growth curve dramatically. We’re confident we’ve cracked the code linking revenue growth to profitability and look forward to it.” look forward to sharing this with more customers next year, “said Greg Purdy, Director of Firmography at Opta.

This unique industry solution gives insurers multi-faceted insights to identify the characteristics of an ideal customer and pinpoint all of their digital twins in each geographic region across Canada. Opta Digital Edge uses CONNECTION HUB, EQ’s data onboarding bridge, and integrates Opta’s Peril Score into the targeting process, improving the quality and effectiveness of the data to drive conversions with the right consumers.

“Helping companies get the most out of their data is an essential first step in a data-driven economy,” said Geoffrey Rotstein, president and CEO of EQ Works. “Using EQ’s AI and machine learning models and advanced data sets, our solutions can dramatically reduce customer acquisition costs and drive the growth of customers with the highest lifetime value.”

ABOUT EQ WORKS:
EQ Works enables companies to understand, predict and influence customer behavior. Using unique datasets, advanced analytics, machine learning, and artificial intelligence, EQ Works creates actionable intelligence that businesses can use to attract, retain, and grow their most important customers. The company’s proprietary SaaS platform provides insights into movement and geospatial data and enables companies to close the loop between digital and real consumer actions.

ABOUT OPTA:
Opta provides insurance and corporate customers with tools and information that they can use to manage and authenticate risk information. This enables them to discover and explore business opportunities, become more competitive, generate business, and gain the insight they need to make profitable business decisions.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this version.

Forward-Looking Statements
This press release may contain forward-looking statements that are based on management’s current expectations and are subject to known and unknown uncertainties and risks that could cause actual results to differ materially from those anticipated or implied in such forward-looking statements. The company undertakes no obligation to update the forward-looking statements contained herein if material facts change as a result of new information, future events or for other reasons.

EQ Inc.
Peter Kanniah, Chief Financial Officer
416-260-4326
1235 Bay Street, Suite 401 | Toronto, Ontario | M5R 3K4
[email protected]
www.eqworks.com

SOURCE: EQ Inc.

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https://www.accesswire.com/631812/EQ-Works-Announces-AI-Powered-Data-Marketing-Solution-for-the-Insurance-Industry-in-Partnership-With-Opta-Information-Intelligence