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Retención del cliente en el mercado de la vida y de la pensión: Para tener y sostener
Details
Scope and coverage of the brief:
• Examines the background to the customer retention problem and utilizes information from interviews with industry experts to identify the key drivers
• Examine show to segment the customer base using lifetime valuation and gives strategic options for increasing the profitability of each segment
• Identifies key motivations for defection and explores potential strategies to counter these factors
• Compares insurers' current customer retention management tools against best practice and provides a roadmap for change
Summary
Key findings and brief highlights:
• Before implementing a retention stategy, it is important to identify whichcustomers are worth retaining. This can be achieved through Customer Lifetime Valuation. The aim of a retention strategy should be to maximize the number of customers who have high lifetime value and low service cost - the 'valuecreators'
• Customers can be segmented according to their defection motivation into: budget, bought, lost and stolen. The largest segment is 'budget' - those whodefect because of a change in circumstance. Identifying these groups and the strategies that have the greatest impact on them allows more efficient and effective retention strategies.
• Life and pension companies have only recently begun to implement CustomerRelationship Management (CRM) systems to help with customer retention; therefore they are focused mostly on operational CRM rather than adopting an integrated CRM strategy.
