Building More Profitable Home Insurance with Customer Value
Many insurers have led with auto coverage, then cross-sold homeowners. But strategies are changing.
Customer lifetime value measures customers over time. Working with overwhelming amounts of data can distort the analysis.
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.
Some customers may be profitable in the short term but less valuable over time.
