Future-oriented Supplementary Insurance offering
Swiss Health Insurance
Development of a retention framework and actionable recommendations to reduce cancellations
Client
Swiss health insurer
Initial Situation
Customer retention and cancellation prevention
To achieve growth as a health insurer, customer retention is one of the key levers. It is therefore crucial to understand the reasons for cancellations in detail, in order to reduce future cancellations with a retention framework and clear measures. To help our client, a Swiss health insurer, reach its growth targets, we were commissioned to develop strategic measures to reduce cancellations alongside the “Growth Strategy” project.
Approach
Retention frameworks for customer loyalty
In collaboration with data analysts and the actuarial team, cancellations of health insurance products were thoroughly analyzed. Based on the insights gained, a retention framework was developed that includes targeted measures for proactive customer retention and cancellation prevention. In close coordination with management, the measures were prioritized and implemented within the relevant teams to achieve a sustainable reduction in the churn rate.
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