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

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

Solutions

"Xerago identified and integrated all the required data sources to create a single master database Cleaning up and transformation of data was done to suite the requirements Key Performance Indicators (KPI) were derived from the available variables A batch processing analytics model was built and deployed to identify customers with high propensity of non-persistence Balancing was performed to boost the proportion of early claim class and predictive model was built "

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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