Insurance Premium Optimization

Insurance Client wanted to price the Premiums of the Insurance Plans with optimal strategies to yield higher Returns and Retain the Customer for Life Time Value.

About Client: a fast growing Ecommerce player in Australia

INDUSTRY: Insurance

REGION: Australia

BUSINESS NEED: Improve Customer Sales

Business Challenges

01 | Client has no maintenance of the Historical data to gauge the Seasonality Price Impacts on the Sale of the Products.

02 | Client was using traditional Business Intelligence Reports to optimize the Sales which was not serving the Growth of the Company.

Ezapp Solution

Performed exploratory data analysis on existing data in line with business requirements
Build Machine Learning Model for predicting the Customer LTV, Customer Engagement rates, Customer likelyhood to subscribe the Product, Customer allocation based on behaviorial Analysis
Performed Risk Analysis on the Price based on Risk Factors: Market Risk, Credit Risk and other Macro Economic risk factors
Developed price elasticity models to measure the impact of price changes on enrollments
Maximized the Sales using Markov Chaining and allowed several Campaigns for PPC to be Optimized for highest Returns on Investment.
Performed Simulation of the Price change and subscription adoption by various Customer Segments and Markets.

Business Impact

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Sales

Increased Sales to 300%

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Acquisition

Improved Customer acquisition by 60%

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Sales Channel

Optimized the Sales Channel and repeat customers

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Rating

Enhanced Feedback Rating

About Ezapp

Ezapp is an ISO 9001/ISO 27001, CMMI certified Softiware Solution Company with 500+ experts working full time across multiple Delivery Centers. Established in 2008, Ezapp is headquartered in New York, NYC, with offices in the USA, London, Japan, India and Australia. We are winners of multiple awards and accolades from organizations like Good firms, App Futura, Top Developers, Tech Reviewer, Croz Desk, and Top App Creators. CIO Review awarded Ezapp Solution as Top Enterprise Softiware Development Company and Top Machine Learning Development Company.

To learn more. Please contact Ezapp Soltion at support@Ezappsolution.us