LONDON--(BUSINESS WIRE)--Premier analytics solutions provider Quantzig announces the completion of its new success story series that sheds light on how customer lifetime value analysis helped a health insurance company to identify and categorize high-risk customers.
Dynamic micro-segmentation and predictive modeling techniques can help you forecast the lifetime value of a customer based on their purchase history, demographics, and other behavioral traits. Request a FREE customized proposal for insights.
The fragmented nature of the global healthcare insurance market can be attributed to the presence of several companies offering a wide array of services at competitive prices. The demand for healthcare services, which includes healthcare insurance, is increasing because of the rising aging population and the increasing frequency of chronic diseases across the globe. However, capitalizing on the opportunities in this market space requires an understanding of the fundamental forces that are disrupting the healthcare insurance market. As a result of such challenges, healthcare insurance companies across the globe have started opting for customer lifetime value analysis to identify high-risk customer segments effectively.
According to Quantzig’s customer analytics experts, “CLV is a measurement of how valuable a customer is to your company, not just on a purchase-by-purchase basis but based on the relationship.”
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HOW QUANTZIG’S COVID-19 BUSINESS SUPPORT SOLUTIONS CAN HELP HEALTH INSURERS
- Our specially curated analytics solutions focus on ensuring business continuity to help businesses navigate the crisis
- We also offer access to a library of best practices and analytics methodologies that can help businesses carry out operations smoothly by identifying the COVID-19 impact areas
- Our services involve combinations of components like portal access, ad-hoc/steady projects, and consulting services
To know more about the challenges facing the health insurance industry and the role of analytics in tackling them, speak to our analytics experts now!
Customer Lifetime Value Analytics Engagement Overview:
Quantzig’s team of customer lifetime value experts helped the healthcare insurance client to identify patients on the verge of leveraging medical procedures for their treatments. The solutions offered also helped the client segment customers based on loyalty and customer value. Furthermore, the client was able to effectively analyze customer behavior and maintain long-term relationships with customers.
Customer lifetime value analytics also helped the client to:
- Identify high-risk customers
- Reduce churn rate
- Drive 50% improvement in process efficiency
With over 15+ years of experience in offering advanced customer analytics solutions, our analytics experts have developed a comprehensive customer lifetime value analytics solutions that can help you extract more value from your investments by leveraging analytics at strategic points in the value chain. Request more information to learn more about our capabilities and analytics offerings.
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal