Building More Profitable Home Insurance with Customer Value
Knowing individual customer lifetime values can help insurers better predict retention, business mix and more.
Some customers may be profitable in the short term but less valuable over time.
One test of a company's ability to generate better levels of customer lifetime value is how well they identify specific needs and move to fill them.
Insurers that have a better understanding of customers' social environment opens more opportunities for appropriate interactions.
Customer lifetime value examines segmentation, activation, retention, cross selling and more.
