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P.C. Verhoef (Peter) and A.C.D. Donkers (Bas)

2001-01-10

Predicting Customer Potential Value: an application in the insurance industry

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For effective Customer Relationship Management (CRM), it is essential to have information on the potential value of customers. Based on the interplay between potential value and realized value, managers can devise customer specific strategies. In this article we introduce a model for predicting the potential value of a current customer. Furthermore, we discuss and apply different modeling strategies for predicting this potential value.

Additional Metadata
Keywords customer potential, customer relationship management, insurance industry, marketing models
JEL Statistical Decision Theory; Operations Research (jel C44), Business Administration and Business Economics; Marketing; Accounting (jel M), Marketing (jel M31)
Publisher Erasmus Research Institute of Management
Persistent URL hdl.handle.net/1765/67
Series ERIM Report Series Research in Management
Rights Copyright 2001, P.C. Verhoef, B. Donkers, This report in the ERIM Report Series Research in Management is intended as a means to communicate the results of recent research to academic colleagues and other interested parties. All reports are considered as preliminary and subject to possibly major revisions. This applies equally to opinions expressed, theories developed, and data used. Therefore, comments and suggestions are welcome and should be directed to the authors.
Organisation Erasmus Research Institute of Management
Citation
Verhoef, P., & Donkers, B. (2001). Predicting Customer Potential Value: an application in the insurance industry (No. ERS-2001-01-MKT). ERIM Report Series Research in Management. Retrieved from http://hdl.handle.net/1765/67
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