An insurance company wants to increase sales by 15% and customer retention by 10% within 1 calendar year. Various strategies to achieve this were considered and a restructure to the existing pricing model is selected to help achieve these goals. A business analyst (BA) works with stakeholders such as actuaries, product specialists, sales staff, risk managers, and underwriters who agree to applying varying levels of discounts to customers based on: • Total annual premium the customer has with the company (Financial worth) • Time with the insurance company (Loyalty) Various financial models are considered but the stakeholders agree that an initial applicable discount is determined based on the customer's overall premium: The percentage of the maximum possible discount available to the customer is adjusted based on time with the company: Which technique would the BA use to validate the desired outcomes?

Question

An insurance company wants to increase sales by 15% and customer retention by 10% within 1 calendar year. Various strategies to achieve this were considered and a restructure to the existing pricing model is selected to help achieve these goals. A business analyst (BA) works with stakeholders such as actuaries, product specialists, sales staff, risk managers, and underwriters who agree to applying varying levels of discounts to customers based on: • Total annual premium the customer has with the company (Financial worth) • Time with the insurance company (Loyalty) Various financial models are considered but the stakeholders agree that an initial applicable discount is determined based on the customer's overall premium:  The percentage of the maximum possible discount available to the customer is adjusted based on time with the company:  Which technique would the BA use to validate the desired outcomes?

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The Answer of An insurance company wants to increase sales by 15% and customer retention by 10% within 1 calendar year. Various strategies to achieve this were considered and a restructure to the existing pricing model is selected to help achieve these goals. A business analyst (BA) works with stakeholders such as actuaries, product specialists, sales staff, risk managers, and underwriters who agree to applying varying levels of discounts to customers based on: • Total annual premium the customer has with the company (Financial worth) • Time with the insurance company (Loyalty) Various financial models are considered but the stakeholders agree that an initial applicable discount is determined based on the customer's overall premium:  The percentage of the maximum possible discount available to the customer is adjusted based on time with the company:  Which technique would the BA use to validate the desired outcomes?

An Insurance Company Wants to Increase Sales by 15% and Customer