Xerago built a successful Cross Sell model for a growing life insurance company in India.

Xerago helped the client in building a model to cross sell insurance products to existing customers

The client is one of India's growing life insurance companies. It is a three way joint-venture of an Indian development and commercial bank; one of India’s leading private sector banks and, a multinational insurance giant based out of Europe.

"The client was looking for an automated solution to identify products that could be sold to the existing customers"

Challenges

1. The product portfolio has changed over the years.
2. Data was maintained in different formats and locations by different business units.

Solution

1. Xerago identified and integrated all the required data sources to create a single master database.
2. Cleaning up and transformation of data was done to suite the requirements.
3. Key Performance Indicators (KPI) were derived from the available variables.
4. Customer demographics and behaviours were used to identify the suitable products for each customer.

Results

At least one high potential product for cross sell was identified for 20% of the customer base of the client.

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