Case Study: Leading Insurance Company reactivates 8,000 lapsed policies with Blueocean Market Intelligence's customer retrieval solution

Leveraging an insurance customer retrieval solution to reactivate lapsed accounts

Leading Insurance Company engaged Blueocean Market Intelligence to address revenue loss from lapsed insurance policies and to identify accounts with a high likelihood of repayment within a specific time bracket. Blueocean Market Intelligence deployed a customized insurance customer retrieval solution to prioritize reactivation of lapsed Traditional and ULIP policies while minimizing waste of time and spend.

Blueocean Market Intelligence used binary logistic regression, a KS cutoff and confusion‑matrix analysis to score policies and surface key drivers (premium due, policyholder income, occupation, total sum assured). From a 50,000‑policy portfolio about 11,000 lapsed accounts were targeted; the model flagged 2,827 Traditional and 8,435 ULIP candidates with model accuracies of 74.9% and 64.7% respectively, enabling the Leading Insurance Company to successfully repossess roughly 8,000 policies and improve recovery ROI.