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Business Impact

  • Improved understanding of customer's current value and expected future value

  • Improved customer targeting with next best offer recommendation

Customer Key Facts

  • Location : North America
  • Industry : Insurance

Problem Context

Customer, a pet insurance company, providing insurance for pet owners to cover veterinary bills, desired to build a customer lifetime value model to better understand the customer journey and enable data-driven decision making

Challenges

 

  • Fragmented data sources
  • Integration of customer churn, spend forecasting, and customer segmentation models

Technologies

R
Tableau
Google Analytics
Talend
Google Cloud Platform

Solution

The future value is calculated considering the revenue, cost of cancellation, cost of cross selling, cost of claims, activity based cost and interest for a year for every customer

Quantiphi would leverage Google’s open source TensorFlow library, Cloud ML & other Google Cloud products to develop a custom ‘State of the Art’ deep learning ‘Customer Lifetime Value’ model, capable of generating insights that can be used to drive marketing and CRM decisions

Result

  • Customer Lifetime value prediction for better cross-sell/up-sell decisions
  • Improved customer engagement due to proactive reach outs

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