Travelers is a top 10 personal insurance carrier with millions of customers and product offerings spanning auto, property, and specialty insurance. Today, Travelers customers receive several forms of communication, including messages regarding their billing and policy information, as well as product and service offerings. Historically, these forms of communication have been executed and measured in siloed business units.
Students were provided a sample dataset containing customer attributes and outbound communications and were tasked with examining the relationship between communications and customer behavior. They were encouraged to build visualizations and statistical models to find insights, quantify the effect of communication on customer behavior, and create a story based on their recommendations.
The students did a great job of using the sponsor dataset to visualize customer journeys and profile customer attributes. They provided insights around customers’ paperless preferences and electronic communications, characteristics that correlated to customer churn, and communication types with positive engagement. Several teams supplemented their findings and recommendations with external research. The students also did a phenomenal job of balancing detailed analytics and recommendations when presenting their work to both technical and business audiences.
“The UConn capstone gave us an opportunity to work closely with 8 talented teams, each with a different perspective and story to tell. Their recommendations had real world applicability and, in some cases, re-affirmed our internal findings. To be a BAPM alum with a chance to sponsor a capstone was a truly unique and exciting opportunity.”
– Prasanthi Lingamallu, Director, Personal Insurance Marketing Analytics