Case Study: a renowned UK-based insurance broker & aggregator improves churn prediction with ITC Infotech

a renowned UK-based insurance broker & aggregator improves churn by 1% with ITC Infotech

The customer, a renowned UK-based insurance broker and aggregator, faced challenges with inefficient monitoring of its high-volume client base and outdated products, which had led to significant revenue loss. To address this, they partnered with ITC Infotech to develop an early warning indicator for predicting client renewal likelihood.

ITC Infotech implemented a renewal likelihood predictor model using algorithms including XGB, Random Forest, Logistic Regression, and Decision Tree. This solution, supported by end-to-end MLOps integration, achieved 82% accuracy and a 0.62 ROC-AUC score. For the customer, this resulted in a 1% improvement in churn, representing an increase in revenue of approximately £720k.