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http://dx.doi.org/10.5351/KJAS.2012.25.1.067

Factor Analysis of Customer Loyalty in Car Insurance Using Generalized Additive Partial Linear Model  

Ki, Seung-Do (Korea Insurance Research Institute)
Kang, Kee-Hoon (Department of Statistics, Hankuk University of Foreign Studies)
Publication Information
The Korean Journal of Applied Statistics / v.25, no.1, 2012 , pp. 67-79 More about this Journal
Abstract
The car insurance market in Korea has already entered (or is in the process of entry) a mature market that is characterized by increased competition by market participants. Participants are expected to compete more intensively in order to survive. Together with a slowdown in market growth the goal of non-life insurers' marketing strategies is to enhance existing customer loyalty because it is easier to raise their loyalty via customer satisfaction than to attract new customers in a stagnant market. In this article, we investigate what factors affect customer loyalty, and suggest some specific ways to establish and implement marketing strategies. We use a generalized additive partial linear model in order to find some significant factors.
Keywords
Generalized additive model; marketing strategy; customer satisfaction;
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Times Cited By KSCI : 2  (Citation Analysis)
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