Building More Profitable Home Insurance with Customer Value
The key is to begin with useful data, then build out.
Customer lifetime value takes time to assess and is a wide-angle view over years.
Knowing individual customer lifetime values can help insurers better predict retention, business mix and more.
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.
Customer lifetime value measures customers over time. Working with overwhelming amounts of data can distort the analysis.
