Maximize customer portfolio value for insurance provider

Client

 Leading insurance provider with products across personal, auto and commercial insurance

OPPORTUNITY

The client was facing challenges in maximizing the value of its customer portfolio by cross-selling and up-selling.

SOLUTION

SG Analytics data analytics team divided the problem statement into three major parts (customer segmentation, propensity model, and campaign design) to create the following solution:

  • SG Analytics employed “propensity to buy” models for optimizing return on investment (RoI) on various campaigns to up-sell and cross-sell insurance products through superior targeting
  • SG Analytics data analytics team used logistic regression models to determine probability of cross-selling products to policyholders
  • The team deployed analytics to build a comprehensive cross – sell solution

VALUE DELIVERED

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1
Helped in designing effective and focused cross sell campaigns with improved response rates.