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Using Machine Learning Modules for Customer Retention | Fusion Alliance

Written by New Era Technology | Jan 5, 2023 5:00:00 AM

Solutions 

Indiana Farm Bureau Insurance worked with New Era Technology to build a machine learning model that would capture the likelihood a given household will have an active policy or still be a customer within 30, 60, and 90 days. 

Project Goal

Fast Setup of Machine Learning  

We wanted to provide Indiana Farm Bureau Insurance with accurate, actionable insight quickly.  
Our Solution
  • Chose practical use cases with small but significant results 
  • Vetted use cases to drive maximum predictive value with minimal risk 
  • Automated machine learning technology instead of bespoke algorithm development 
Project Goal

Capture Accurate, Actionable Results

Indiana Farm Bureau Insurance wanted to provide the customer retention team with insight on who to contact and how to position retention strategies. We needed to quickly capture accurate, actionable results.
Our Solution
  • Built two machine learning modules including deep neural network and traditional statistical analytics 
  • Selected concrete questions that would leverage over 3 million policy snapshots and target 35,000 at-risk policyholders 
  • Drove returns through incremental machine learning investment 
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