Ethias took advantage of Black Tiger Belgium's experience in predictive models to determine the risk of churn for each of his customers. The model also helped to determine their appetite to buy a new contract for the product ‘assistance’.
Identification of the risk of customers churning
Ethias did quali & quanti researches to understand why customers were leaving for their car insurance. The answer was not related to the customer’s experience with Ethias but their decision was rather related to a specific situation in their lives.
Ethias thought it was better to identify the customers with a high risk to churn in order to be able to take action before the churn happens.
Ethias also wanted to optimize the performances of marketing actions by testing the predictive approach on cross-selling actions.
The solution: from single customer view to a single analytical view
In order to be able to construct those predictive models we needed to let the data speak. Consequently Black Tiger Belgium built a single view of our customers with hundreds of variables based on all data in our possession.
Ethias took Balck Tiger Belgium's experience to help create the predictive models and determine for each customer his risk to churn for his car insurance and his appetite to buy a new contract for the product ‘assistance’ .
By targeting better:
- Ethias significantly improved the return on marketing actions
- Ethias was able to reduce churn by 10%