We use cookies to personalise content, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners. For information on how to change your cookie settings, please see our Privacy policy. Otherwise, if you agree to our use of cookies, please continue to use our website.

Right action for the right customer at the right time

Over £20-million increase in 12-month profit with negligible impact on customer attrition.

The challenge: The insurance market revolves around the date when insurance policies come up for renewal.  In order to retain customers, our client like many insurance brokers, needed to create effective marketing communications.

They wanted our help to identify the customers, which if contacted at the right time with the right offer, could be persuaded to stay. Through the use of uplift modelling we could ensure the retention of their most valuable customers.

Right action for the right customer at the right time

Our approach: The nature of the insurance industry means that every time a human interacted with the customer the business lost margin. We helped decide when it would be profitable to have a human or when to automate, without affecting retention.

We built a technical uplift model to predict the incremental impact of a marketing treatment. The complex model was able to refine the contact strategy – focusing resources on ones that could be influenced, and taking care around those who would be more likely to buy if left alone.

The results: Improved marketing effectiveness, as renewals are optimised based on conversion and profit purchase paths. By applying the technique, we identified £20m increased income in a 12-month period with negligible impact on customer attrition.

Join the Discussion