Building More Profitable Home Insurance with Customer Value
Customer lifetime value takes time to assess and is a wide-angle view over years.
Insurers that have a better understanding of customers' social environment opens more opportunities for appropriate interactions.
Many insurers have led with auto coverage, then cross-sold homeowners. But strategies are changing.
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 examines segmentation, activation, retention, cross selling and more.
