Industries / Insurance

Customer Profitability

Grow customer base and increase profitability

In these turbulent economic times, it is essential for insurance companies to acquire new customers and retain existing ones – but that alone won't be enough. Insurers must consider customer lifetime value (CLV) when seeking to attract or retain customers. After all, not all customers are profitable ones. It's essential for insurers to identify which customers are truly the most valuable by forecasting their value or profitability over an extended time frame – for example, five to 10 years. An accurate estimation of CLV is critical for ensuring future success.

How SAS® Can Help 

The key to improving customer profitability is to develop effective pricing and marketing strategies by analyzing all your customer and operational data to maximize customer lifetime value over a defined time period. With SAS, you can:

  • Create a single view of the customer.
  • Ensure clean, accurate, up-to-date data throughout the analytical and marketing process with SAS' embedded data quality routines.
  • Forecast customer behavior using predictive analytics to calculate CLV.
  • Connect offers to the right customers.

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How SAS® Is Different 

SAS gives you a complete picture of customer behavior at every touch point, including acquisition and renewal, to maximize profitability throughout the customer life cycle. Only SAS delivers:

  • Superior data integration capabilities.
  • The most powerful predictive analytics available.
  • Automated campaign planning.
  • Intuitive, Web-based reporting.

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Related Products and Solutions

SAS® Marketing Automation

SAS Marketing Automation is a comprehensive solution to plan, test and execute marketing campaigns so you can improve marketing efficiency and effectiveness. By increasing retention and driving higher rates of new customer acquisitions, it can help you achieve a better return on investment and a healthier bottom line.

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SAS® Customer Analytics for Insurance

SAS Customer Analytics for Insurance delivers specific analytical techniques to help you understand and drive decisions related to customer profitability. The solution enables you to segment customers according to a multitude of variables – including demographics, geographics, claims history and other behavioral attributes – to create more meaningful and targeted marketing programs that lead to improved retention rates.

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Ready to learn more?

Call us at 1-800-727-0025 (US and Canada) or request more information.