Feature Importance Analysis for Customer Management of Insurance Products

Optimizing customer contact strategies is important to improving customer experience, increasing sales and improving business profitability. This study focuses on finding an optimal time to contact customers, using demographic features provided by a private insurance broker and area characteristics from national census data. We train machine learning models and interpret the results using SHAP to analyze how each feature explains customer contactability. Among all the interesting results, we find that for older people, the best time to contact is during late evenings and nights.