Publicação
Customer lifetime value in insurance
| Resumo: | Throughout the years, companies from several business sectors have strived to strengthen their client portfolio by acquiring and retaining the most profitable. For this to happen, current and potential clients must be clearly classified based on their past and future interactions with a company throughout the lifetime of their relationship. This report presents how the previous scenario was implemented using Customer Lifetime Value (CLV) in one of the biggest bancassurance companies in Portugal, during a 9-month internship. Before delving into the detailed set of this project phases, the concept of CLV was reviewed, as well as the characteristics which define its several approaches, followed by the alignment of the chosen approach to the company reality. This CLV model was limited to a 12-month future horizon, covered 7 company dimensions (one global, plus 1 per lines of business) and took into consideration as main future client interactions churn, cross-sell, upsell and risk of claiming. These previous components were modeled with the help of SAS Enterprise Miner or estimated using SAS Enterprise Guide and analyzing historical events. Besides a purely monetary CLV, it was also generated an ordinal output using a set of business rules and a ranking data discretization method. Finally, a back-test validation procedure was executed to evaluate the reliability of both types of outputs in each of the considered dimensions and its results were analyzed. |
|---|---|
| Autores principais: | Abreu, Jorge Eduardo Carvalho |
| Assunto: | Customer Lifetime Value CLV Customer Current Value Upsell Cross-sell Churn Risk Insurance Bancassurance Valor actual do cliente Risco Seguros |
| Ano: | 2019 |
| País: | Portugal |
| Tipo de documento: | dissertação de mestrado |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Universidade Nova de Lisboa |
| Idioma: | inglês |
| Origem: | Repositório Institucional da UNL |
| _version_ | 1868982863131574272 |
|---|---|
| author | Abreu, Jorge Eduardo Carvalho |
| author_facet | Abreu, Jorge Eduardo Carvalho |
| author_role | author |
| contributor_name_str_mv | Gonçalves, Rui Alexandre Henriques Castelli, Mauro RUN |
| country_str | PT |
| creators_json_txt | [{\"Person.name\":\"Abreu, Jorge Eduardo Carvalho\"}] |
| datacite.contributors.contributor.contributorName.fl_str_mv | Gonçalves, Rui Alexandre Henriques Castelli, Mauro RUN |
| datacite.creators.creator.creatorName.fl_str_mv | Abreu, Jorge Eduardo Carvalho |
| datacite.date.Accepted.fl_str_mv | 2019-02-07T00:00:00Z |
| datacite.date.available.fl_str_mv | 2019-03-06T14:46:02Z |
| datacite.date.embargoed.fl_str_mv | 2019-03-06T14:46:02Z |
| datacite.rights.fl_str_mv | http://purl.org/coar/access_right/c_abf2 |
| datacite.subjects.subject.fl_str_mv | Customer Lifetime Value CLV Customer Current Value Upsell Cross-sell Churn Risk Insurance Bancassurance Valor actual do cliente Risco Seguros |
| datacite.titles.title.fl_str_mv | Customer lifetime value in insurance |
| dc.contributor.none.fl_str_mv | Gonçalves, Rui Alexandre Henriques Castelli, Mauro RUN |
| dc.creator.none.fl_str_mv | Abreu, Jorge Eduardo Carvalho |
| dc.date.Accepted.fl_str_mv | 2019-02-07T00:00:00Z |
| dc.date.available.fl_str_mv | 2019-03-06T14:46:02Z |
| dc.date.embargoed.fl_str_mv | 2019-03-06T14:46:02Z |
| dc.format.none.fl_str_mv | application/pdf |
| dc.identifier.none.fl_str_mv | http://hdl.handle.net/10362/62423 |
| dc.language.none.fl_str_mv | eng |
| dc.rights.cclincense.fl_str_mv | http://creativecommons.org/licenses/by/4.0/ |
| dc.rights.none.fl_str_mv | http://purl.org/coar/access_right/c_abf2 |
| dc.subject.none.fl_str_mv | Customer Lifetime Value CLV Customer Current Value Upsell Cross-sell Churn Risk Insurance Bancassurance Valor actual do cliente Risco Seguros |
| dc.title.fl_str_mv | Customer lifetime value in insurance |
| dc.type.none.fl_str_mv | http://purl.org/coar/resource_type/c_bdcc |
| description | Throughout the years, companies from several business sectors have strived to strengthen their client portfolio by acquiring and retaining the most profitable. For this to happen, current and potential clients must be clearly classified based on their past and future interactions with a company throughout the lifetime of their relationship. This report presents how the previous scenario was implemented using Customer Lifetime Value (CLV) in one of the biggest bancassurance companies in Portugal, during a 9-month internship. Before delving into the detailed set of this project phases, the concept of CLV was reviewed, as well as the characteristics which define its several approaches, followed by the alignment of the chosen approach to the company reality. This CLV model was limited to a 12-month future horizon, covered 7 company dimensions (one global, plus 1 per lines of business) and took into consideration as main future client interactions churn, cross-sell, upsell and risk of claiming. These previous components were modeled with the help of SAS Enterprise Miner or estimated using SAS Enterprise Guide and analyzing historical events. Besides a purely monetary CLV, it was also generated an ordinal output using a set of business rules and a ranking data discretization method. Finally, a back-test validation procedure was executed to evaluate the reliability of both types of outputs in each of the considered dimensions and its results were analyzed. |
| dirty | 0 |
| eu_rights_str_mv | openAccess |
| format | masterThesis |
| fulltext.url.fl_str_mv | https://run.unl.pt/bitstreams/a5326b63-e7b2-4496-b326-eb38ec03a403/download |
| id | run_46e29d7d2ecedca0544bfda462402bc4 |
| identifier.url.fl_str_mv | http://hdl.handle.net/10362/62423 |
| inst_facet_str | urn:organizationAcronym:unl{{{_:::_}}}Universidade Nova de Lisboa |
| instacron_str | unl |
| institution | Universidade Nova de Lisboa |
| instname_str | Universidade Nova de Lisboa |
| language | eng |
| network_acronym_str | run |
| network_name_str | Repositório Institucional da UNL |
| oai_identifier_str | oai:run.unl.pt:10362/62423 |
| organization_str_mv | urn:organizationAcronym:unl |
| person_str_mv | Abreu, Jorge Eduardo Carvalho |
| publishDate | 2019 |
| repo_facet_str | urn:repositoryAcronym:run{{{_:::_}}}Repositório Institucional da UNL |
| reponame_str | Repositório Institucional da UNL |
| repository_id_str | urn:repositoryAcronym:run |
| service_str_mv | urn:repositoryAcronym:run |
| spelling | engpt_PTThroughout the years, companies from several business sectors have strived to strengthen their client portfolio by acquiring and retaining the most profitable. For this to happen, current and potential clients must be clearly classified based on their past and future interactions with a company throughout the lifetime of their relationship. This report presents how the previous scenario was implemented using Customer Lifetime Value (CLV) in one of the biggest bancassurance companies in Portugal, during a 9-month internship. Before delving into the detailed set of this project phases, the concept of CLV was reviewed, as well as the characteristics which define its several approaches, followed by the alignment of the chosen approach to the company reality. This CLV model was limited to a 12-month future horizon, covered 7 company dimensions (one global, plus 1 per lines of business) and took into consideration as main future client interactions churn, cross-sell, upsell and risk of claiming. These previous components were modeled with the help of SAS Enterprise Miner or estimated using SAS Enterprise Guide and analyzing historical events. Besides a purely monetary CLV, it was also generated an ordinal output using a set of business rules and a ranking data discretization method. Finally, a back-test validation procedure was executed to evaluate the reliability of both types of outputs in each of the considered dimensions and its results were analyzed.application/pdfpt_PTCustomer lifetime value in insuranceAbreu, Jorge Eduardo CarvalhoGonçalves, Rui Alexandre HenriquesCastelli, MauroHostingInstitutionOrganizationalRUNe-mailmailto:run@unl.ptrun@unl.ptURNurn:tid:2021840642019-03-06T14:46:02Z2019-02-072019-02-07T00:00:00ZHandlehttp://hdl.handle.net/10362/62423http://purl.org/coar/access_right/c_abf2open accessCustomer Lifetime ValueCLVCustomer Current ValueUpsellCross-sellChurnRiskInsuranceBancassuranceValor actual do clienteRiscoSeguros1652711 bytesliteraturehttp://purl.org/coar/resource_type/c_bdccmaster thesis2019-02-07http://creativecommons.org/licenses/by/4.0/http://purl.org/coar/access_right/c_abf2application/pdffulltexthttps://run.unl.pt/bitstreams/a5326b63-e7b2-4496-b326-eb38ec03a403/download |
| spellingShingle | Customer lifetime value in insurance Abreu, Jorge Eduardo Carvalho Customer Lifetime Value CLV Customer Current Value Upsell Cross-sell Churn Risk Insurance Bancassurance Valor actual do cliente Risco Seguros |
| status | SINGLETON |
| subject.fl_str_mv | Customer Lifetime Value CLV Customer Current Value Upsell Cross-sell Churn Risk Insurance Bancassurance Valor actual do cliente Risco Seguros |
| title | Customer lifetime value in insurance |
| title_full | Customer lifetime value in insurance |
| title_fullStr | Customer lifetime value in insurance |
| title_full_unstemmed | Customer lifetime value in insurance |
| title_short | Customer lifetime value in insurance |
| title_sort | Customer lifetime value in insurance |
| topic | Customer Lifetime Value CLV Customer Current Value Upsell Cross-sell Churn Risk Insurance Bancassurance Valor actual do cliente Risco Seguros |
| topic_facet | Customer Lifetime Value CLV Customer Current Value Upsell Cross-sell Churn Risk Insurance Bancassurance Valor actual do cliente Risco Seguros |
| url | http://hdl.handle.net/10362/62423 |
| visible | 1 |