Case: Reasons for cancellation

Qualitative Interviews + Data Mining

Challenge: Understand and reduce life insurance cancellation rates

Industry: Insurances

Approach: Qualitative canceller survey with subsequent data mining

Task: To uncover correlations that are typical for terminations within the last 5 years.

Basis: Total number of cancellations of an insurance policy in a certain period.

Procedure: First of all, a qualitative survey of cancellations is conducted. This was carried out on a qualitative basis (65 cases) and provided information about the motives, attitudes, expectations and level of information of the terminators from their subjective point of view.

Results: In addition to the qualitative findings, a database analysis of all terminated contracts in the same period of time was conducted by means of data mining. For this purpose, counts or cross-evaluations were performed in the overall material and correlations between socio-demographics and criteria such as contract type, duration and amount of the contract, sales structure, etc. were identified. The results were a socio-demographic description of the “short runners” and “long runners”, statements on the quality of the consultants and recommendations for the target group orientation for new contracts.