Anticipating Consumer Churn [at an Insurance Company]

Context & objectives

A leading insurance company was experiencing churn of home insurance customers causing several million euros of losses. They turned to Agilytic to understand churn drivers and design proactive retention measures.

Approach

We worked together with the marketing and sales department to maximise the relevance of the outcomes.

After an initial phase of data collection and audit, we built a predictive model aimed at identifying churn drivers and then score churn propensity of existing customers.

Finally, we delivered workshops to help in-house teams improve data literacy and take ownership of our model.

Results

Our model allowed identifying twice more churners. Based on the insights about churn drivers, we also helped our client setting up proactive retention measures such as re-packaging products to better meet customer needs.

About Agilytic

Since 2015, Agilytic helps innovative leaders solve their biggest challenges through the smarter use of data. With over 80 successful projects to date, we have perfected a pragmatic approach to putting data at the service of business goals, be they commercial, operational, financial, or human. Reach out today for a quick introduction, we’d love to hear from you.

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