Insurance markets have changed radically and deeply in the past 20 years. Deregulation, globalization of insurance institutions, intensified competition, electronic commerce, bancassurance and the emergence of new risks are among the challenges faced by insurance markets. This is forcing the insurers and financial houses to rethink their marketing strategy, moving from traditional brand-based strategy to Customer Equity (CE) (Blattberg et al., 2001). The paper discusses the importance of CE as a marketing strategy, and an attempt is made to demonstrate the impact of advanced analytics on CE strategy through crosssell by targeting the right customers with the right products. This attempt is a deviation from traditional segmentation approach. It has been proved beyond doubt that advanced analytics can help insurers in strategizing and creating profitable target base using analytics approaches. The paper attempts to develop models, product group-wise, to capture the aforesaid differences and apply the patterns learned from one product group on other product groups to maximize the chances of cross-sell. The value analysis showed substantial cost saving through preferred product suggestions per customer.

In view of the dynamic regulatory changes and volatile market conditions, the insurance and finance industries started focusing on changing the marketing strategy from traditional Brand Equity (BE) to Customer Equity (CE)(Colombo and Weina, 1999). Marketing managers of global businesses like retail and others who have already moved from BE strategy to CE strategy by applying customer-centric approach, increased the market share and speed to the market (Cooper and Giovanni, 2000). The insurance and financial market managers also started moving their marketing strategy towards CE-based approach and are trying to leverage maximum value from sustainable, longstanding customer relationship with the help of the data (Blattberg et al., 2001). The shift from BE to CE creates paradigm change in the approach of the strategy from traditional segmentation to advanced analytics-based approach in each of the marketing activity (Blattberg et al., 2001), as shown in Table 1.

Business Strategy, Intuition, Segmentation-Based, Customer Equity (CE), Brand Equity (BE), Customer Equity (CE), Predictive Modeling Approach, Insurance Marketing Strategy.