Influential factors in Persistency model for life insurance

persistency
predictive_model
insurance

#1

Hi everyone,

I have a project to work for customer churn in life insurance domain .
I am looking for most influential factors for building the model.
Can anyone suggest me the factors , attributes that can help me solve the business problem ?
Thanks in advance .


#2

@siddhu_1992_subraman

I have worked for more than 4 years in Insurance domain. Here are a few factors which come to my mind:

  • Channel through which the policy has been sold - Agent, Bancassurance, Direct, Online etc.
  • Past relationship with the customer - Number of times he has paid premium, called the call center
  • Vintage of the policy
  • Product
  • Amount of premium due
  • Time since Due date

Hopefully this is a good list to start with.

Regards,
Kunal


#3

Thanks alot kunal.
This would be helpful for a kickstart .