Churn Prediction

Insurance

 A churn model identifies customers at risk of churn or who are most likely to switch, so the business can take action from losing them. Churn model provides metrics such as the number and percentage of customers lost, using the history of churned customer we can do pattern recognition, use the model on existing customers and predict customers at risk of churn and do some proactive engagement to save them.

Benefits for the company

Effectively identifying customers at risk of churning and then automating a system to take action on those at-risk customers is a perfect space for AI.

Feasability

High

Type of expertise/ AI domain

Machine Learning and Statistics

Internal data required

Claims related data, CRMs

External data possible

Website data

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