Enhanced customer retention with tailored pre-emptive churn mitigation interventions enabled by a sophisticated churn propensity model.
Benefícios e resultados
Plano de fundo
The Sancor Seguros Group, based in Sunchales, Argentina, is a leading insurance provider. The company faced challenges in identifying customers likely to churn and implementing targeted retention strategies.
Desafios
Issue Identification: Sancor Seguros struggled with the challenge of identifying customers likely to churn due to the customer information being available at the insurance certificate level. This made it difficult to see an integrated customer-level view when customers held multiple certificates, leading to limited customer insights and effective retention strategies; Issue Impact: High customer churn rates resulted from the absence of a customized churn mitigation strategy stemming from insufficient customer data insights
Solução
NowVertical's Role: NowVertical developed a leakage model with a unique focus on client churn rather than certificate churn. The solution involved creating two models: a certificate leak model to serve as input for training the client leak model
Implantação
Used Logistic Regression for initial insights and Gradient Boosting for enhanced predictive accuracy; Integrated the models into the CRM system for real-time analysis; Enabled the company to proactively identify customers at risk of churn and deploy customized retention strategies within 6 months of certificate expiry
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