Predicting customer potential value: an application in the insurance industry

Predicting customer potential value: an application in the insurance industry

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Article ID: iaor20021773
Country: Netherlands
Volume: 32
Issue: 2
Start Page Number: 189
End Page Number: 199
Publication Date: Dec 2001
Journal: Decision Support Systems
Authors: ,
Keywords: insurance
Abstract:

For effective Customer Relationship Management, is it essential to have information on the potential value of customers. Based on the interplay between potential value and realized value, managers can devise customer specific strategies. In this article, we introduce a model for predicting the potential value of a current customer. Furthermore, we discuss and apply different modeling strategies for predicting this potential value.

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