Proceedings of the 3rd International Conference on Bigdata Blockchain and Economy Management, ICBBEM 2024, March 29–31, 2024, Wuhan, China

Research Article

Understanding The Customer Lifetime Value of the Insurance Industry and Its Influencing Factors

Download8 downloads
  • @INPROCEEDINGS{10.4108/eai.29-3-2024.2347317,
        author={Zhen  Tian},
        title={Understanding The Customer Lifetime Value of the Insurance Industry and Its Influencing Factors},
        proceedings={Proceedings of the 3rd International Conference on Bigdata Blockchain and Economy Management, ICBBEM 2024, March 29--31, 2024, Wuhan, China},
        publisher={EAI},
        proceedings_a={ICBBEM},
        year={2024},
        month={6},
        keywords={customer lifetime value insurance industry factor analysis},
        doi={10.4108/eai.29-3-2024.2347317}
    }
    
  • Zhen Tian
    Year: 2024
    Understanding The Customer Lifetime Value of the Insurance Industry and Its Influencing Factors
    ICBBEM
    EAI
    DOI: 10.4108/eai.29-3-2024.2347317
Zhen Tian1,*
  • 1: Southwest Petroleum University
*Contact email: 18332934983@163.com

Abstract

Customer lifetime value is the contribution of all profits that the enterprise get from the trading activities from their users. Companies and entities can use it as a method to increase their operating profit. Previous work predicted customer lifetime value based on customer-related cash flows and traditional financial metrics, but ignored the endogenous causes of customer lifetime value. This paper is designed to analyze several factors which affect the customer lifetime value. Taking the insurance industry as an example, through the establishment of a model and the implementation of analysis, the study figures out the connection between customer index and its lifetime value, and how can the region, income, marriage, purchase independent and comprehensive affect its lifetime value.