Customer Insights for Insurance Companies

Shishir Jain

Chapter 13 in Business Analytics:Progress on Applications in Asia Pacific, 2016, pp 366-400 from World Scientific Publishing Co. Pte. Ltd.

Abstract: A Singapore-based insurance giant wanted to have a 360-degree view to know more about its customers. This study performed the review which helped the company (alias “the Insurance Company”) analyze things for the first time, both from traditional policy as well as customer point of view. Actionable insights were provided to the company from the created customer view. The whole analysis was broken down into following four parts: (1) to find the evolution of customers in company over the year; (2) to determine the characteristics of the customers who leave within two years of their interactions; (3) to determine the characteristics of the customers who leave after five years and those who stay; and (4) to determine the characteristics of home insurance customers who also buy car insurance policies. These analyses revealed some interesting patterns about customer behavior.

Keywords: Business Analytics; Entrepreneurship; Big Data; Information Technology (search for similar items in EconPapers)
JEL-codes: L26 (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.worldscientific.com/doi/pdf/10.1142/9789813149311_0013 (application/pdf)
https://www.worldscientific.com/doi/abs/10.1142/9789813149311_0013 (text/html)
Ebook Access is available upon purchase.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:wschap:9789813149311_0013

Ordering information: This item can be ordered from

Access Statistics for this chapter

More chapters in World Scientific Book Chapters from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().