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 examines segmentation, activation, retention, cross selling and more.
The key is to begin with useful data, then build out.
Insurers that have a better understanding of customers' social environment opens more opportunities for appropriate interactions.
Knowing individual customer lifetime values can help insurers better predict retention, business mix and more.
