Insurance Company X is an established insurance company in Portugal. CX offers its clients a wide range of products, including car, household, health, life, and work insurance. As a leader in the Portuguese insurance market, CX Insurance is committed to using data as a means of greater, more valuable, and more effective competitive differentiation.
From the clustering insights we got, the following we’re the ones that we’re most determining and should be taken into account for future marketing campaigns:
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The main focus should be on lower-income groups since they correlate to the highest customer value in the overall range of products. Therefore campaigns such as basket offer Health, Life, and Work to such customers could be beneficial to A2Z.
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Average salary-earning customers, to which the Household Committent Ratio is high, shouldn’t be targeted to any insurance products except Car Insurance due to their low Customer Value and Total Spending.
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Highly paid customers should be targeted with Health Insurance products, with a possible Car Insurance bundle, since these are the highest spenders in Health, which also tend to have no Children.