Points Increase in Average Net Promoter Score (NPS) / Sentiment Score
Increase in Average Customer Life Span with Targeted Customer Outreach
Time Reduced in Customer Interaction with Personalized Touch
Growth in Revenues from Existing Customer Base Compared to Acquisition Costs for New Customer
Petplan Pet Insurance is a leading pet health insurance company in the U.S. and Canada that provides insurance for pet owners to cover veterinary bills. Their Marketing team wanted to focus on high-value customers and make data-driven business decisions for improved targeted marketing.
Therefore, they wanted a Customer Lifetime Value model to help them better understand the customer journey and identify the right target groups of customers.
Quantiphi built a Customer Lifetime Value prediction model to help the Marketing team identify the customer lifetime value of a customer by comparing the profitability and cost per action (CPA) data. Tableau dashboards were also created for the Marketing team to visualize the data and identify customer buckets responsible for high loss. In turn, increasing customer retention rates by evaluating the current and the future value of the customers and identifying the types of insurance policies that lead to customer retention.
