• Title/Summary/Keyword: Customer relationship management

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Application of AI-based Customer Segmentation in the Insurance Industry

  • Kyeongmin Yum;Byungjoon Yoo;Jaehwan Lee
    • Asia pacific journal of information systems
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    • v.32 no.3
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    • pp.496-513
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    • 2022
  • Artificial intelligence or big data technologies can benefit finance companies such as those in the insurance sector. With artificial intelligence, companies can develop better customer segmentation methods and eventually improve the quality of customer relationship management. However, the application of AI-based customer segmentation in the insurance industry seems to have been unsuccessful. Findings from our interviews with sales agents and customer service managers indicate that current customer segmentation in the Korean insurance company relies upon individual agents' heuristic decisions rather than a generalizable data-based method. We propose guidelines for AI-based customer segmentation for the insurance industry, based on the CRISP-DM standard data mining project framework. Our proposed guideline provides new insights for studies on AI-based technology implementation and has practical implications for companies that deploy algorithm-based customer relationship management systems.

A Comparative Case Study on Success Factors Affecting the Renewal and Establishment of Customer Service Information Systems for a Customer Center (고객서비스 정보시스템 재구축과 신규구축 성공에 영향을 미치는 요인에 관한 비교사례연구)

  • Hong, Byung Sun;Koh, Joon
    • Knowledge Management Research
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    • v.20 no.3
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    • pp.17-38
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    • 2019
  • Rrecently, companies have made great efforts to satisfy various needs and heightened expectations of customers, and the importance of customer center as customer contact department for customer relationship management is increasing. In the knowledge ecosystem, corporate customer centers are emerging as a new alternative to acquiring corporate competitiveness by increasing sales and increasing market share by improving marketing support activities and customer relationship management at customer contact points. As a result, the interest in the customer center has increased rapidly because it provides the opportunity to contact with the customer. In addition, in the era of the fourth industrial revolution, the customer center, which is a collection of information and communication technologies, has a big databased voice recognition technology to elaborate customer service, thereby enhancing customer satisfaction and contributing to marketing through continuous interaction with customers. Of course, we have the opportunity to transform into the frontline business intelligence front for customer knowledge. This study is a comparative case study on how the customer center of K Life Insurance that takes the lead in the customer center industry has successfully renewed and established their key information systems to improve customer services and reinforce marketing support competencies. Based on the above, this study will present factors affecting successful implementation and settlement of the customer service information systems of customer centers by independently analyzing two individual cases.

A Study on the Effect of Customer Equity on Behavioral Intentions: Moderating Effect of Restaurant Type

  • Lee, Sun Lyung;Namkung, Young;Yoon, Hye Hyun
    • Culinary science and hospitality research
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    • v.24 no.2
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    • pp.51-62
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    • 2018
  • The value of the customer's contribution essentially becomes the value of the dining industry in Korea. Therefore, an increase in the customer's equity maximizes the assets of the business. The purpose of this study intends to examine relationships between customer equity and behavioral intentions in restaurant industry and verify the moderating effect of restaurant type. This study takes an integrated perspective on prior literature on customer equity, as well as on aspects of the general restaurant industry related to customer equity, thereby defining the concept of customer equity in a way that reflects the characteristics of the dining industry. A total of 420 patrons in Korea participated. The results showed a positive relationship between brand equity, relationship equity and behavioral intentions. There were moderating effects related to restaurant type in the causal relationships between behavioral intentions. The components of customer equity and relationship equity in casual dining restaurants, and value equity and brand equity in quickservice restaurants significantly by customers differs according to restaurant type. Limitations and future research directions are also discussed.

Influence of Perceived Justice with Service Recovery on Customer Satisfaction and Behavioral Results (서비스복구의 공정성 지각이 고객의 만족과 그 행동적 결과에 미치는 영향)

  • Cho, Sang-Lee;Kang, Myong-Ju
    • Management & Information Systems Review
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    • v.33 no.1
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    • pp.299-312
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    • 2014
  • This study is about the influence of perceived justice with service recovery on customer satisfaction and the customer's behavioral results. Even though prior studies estimated overall customer satisfaction, this study measured customer satisfaction separately in two parts: satisfaction with the service recovery and relationship satisfaction. The results are as follows. Distributive justice and interactional justice have positive effects on satisfaction with service recovery. But distributive justice, procedural justice and interactional justice have positive effects on relationship satisfaction. Satisfaction with the service recovery and relationship satisfaction have a positive effect on customer loyalty.

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CRM 프로세스가 조직성과에 미치는 영향: 고객순자산가치 운영요소 관점으로

  • Kim, Hyeong-Su;Lee, Ju-Min
    • Proceedings of the Korean Operations and Management Science Society Conference
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    • 2008.10a
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    • pp.218-233
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    • 2008
  • This study reveals how corporate CRM activities can influence organizational performance by integrating CRM process with customer equity drivers, which have been regarded as independent research areas. The results show that the customer equity drivers including value, brand, and relationship equity mediate between CRM processes and organizational performance. In more detail, customer acquisition, retention, and expansion have positive relationships with brand, relationship, and value equity, respectively. Moreover, even though all customer equity drivers influence organizational performance positively, our analysis suggests that relationship equity has the strongest effect on it.

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A Study on the Factors Affecting the CRM Performance through the Customer Satisfaction and Loyalty (CRM 성과에 영향을 미치는 요인에 관한 실증적 연구 : 고객만족도와 고객충성도 중심으로)

  • Cho, Mun-Je;Sohn, Young-Woo
    • Korean Management Science Review
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    • v.25 no.1
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    • pp.193-208
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    • 2008
  • While CRM has recently attracted a lot of attention among academics and practitioners, most academic research in this area has focused on consumer markets, but CRM in industry markets is less focused research area so far. Companies in industry market have suspected effects of the relationship between CRM's activities and performance which is related to customer satisfaction and customer loyalty. The main purpose of this research support CRM strategy development. Therefore, this research is focused on as follows; first, defining the concept of CRM and performance second, identifying the customer relationship's characteristics and CRM relational activities in industrial markets third, verifying the relationship between customer satisfaction and customer loyalty in the case of Steel industry which is whether the CRM relational activities have effects on customer loyalty directly, or indirectly through customer satisfaction.

A Study on the Effects of Customer Orientation on Emotional Dissonance and Service Delivery Level (감정부조화와 서비스제공수준 간의 관계에서 고객지향성의 매개효과에 관한 연구)

  • Song, Jung-Su;Son, Eun-Il
    • Journal of the Korea Safety Management & Science
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    • v.11 no.4
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    • pp.127-137
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    • 2009
  • The purpose of this study were to examine the effects of emotional dissonance on customer orientation and service delivery level, and to examine the mediating effects of the customer orientation. In order to verify the relationships and mediating effect, data were obtained from 199 nurses working in a general hospital in Changwon City were analyzed by using SPSS 12.0. and AMOS 5.0. The findings are as follows: Firstly, there was a negative relationship between emotional dissonance and customer orientation. Secondly, there was also a positive relationship between customer orientation and service delivery level. Thirdly, there was also a negative relationship between emotional dissonance and service delivery level. Finally, the customer orientation was a partial mediating effect on the relationship between emotional dissonance and service delivery level. Based on these findings, the implications and the limitations of the study were presented including some directions for future studies.

The Prospects of Metaverse in the Public vs. Private Sector by Millennials and Generation Z: Citizen/Customer Relationship Management

  • Yooncheong CHO
    • The Journal of Industrial Distribution & Business
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    • v.15 no.2
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    • pp.1-10
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    • 2024
  • Purpose: The aim of this study is to examine the factors influencing prospects toward for the metaverse in both the public and private sectors, focusing on the perspectives of millennials and generation Z that were rarely examined in previous studies. Research design, data and methodology: This study employed an online survey as its research methodology utilizing factor analysis, ANOVA, and regression analysis to test the formulated hypotheses. Results: The findings of this study reveal that factors such as citizen/customer relationship management, the application of metaverse in both in the public and private sectors. Moreover, the effect size of applying the metaverse to cities on prospects toward the Metaverse was notably higher in the public sector. The effect size of metaverse management for customer relationship management showed a greater impact in the private sector. Conclusions: The results carry significant managerial and policy implications. They shed light on how millennials and generation Z perceive the applications of the metaverse in relation to cities, products, and brands. Notably, the results suggest that application of the metaverse for cities and management of customer relationships for products and brands emerge as key factors influencing the prospect of the metaverse in the public and private sectors.

Applications and PR policy Use of Policy Customer Relationship Management (PCRM): PCRM PR Status and Improvement (정부 부처 정책고객서비스의 적용사례와 PR 활용방안: PCRM PR 현황 및 개선방안)

  • Woo, Chong-Moo;Kim, Man-Ki
    • Journal of Digital Convergence
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    • v.13 no.4
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    • pp.1-7
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    • 2015
  • Policy Customer Relationship Management(PCRM) is a customer relationship management of public institution. Most of public servants at the 37 government ministries, however, has used PCRM as a simple tool for email service and online survey. This study shows government officials should understand the fact that PCRM is not a tool but a management system for general public; and utilize PCRM in each and every government PR practices. When using the PCRM indispensable to be shared with the PR of public sector, PCRM PR will be activated. The study also furnish various strategies and tactics for government PCRM PR.

Impact of Customer Experience and Customer Engagement on Satisfaction and Loyalty: A Case Study in Indonesia

  • ZAID, Sudirman;PATWAYATI, Patwayati
    • The Journal of Asian Finance, Economics and Business
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    • v.8 no.4
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    • pp.983-992
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    • 2021
  • This study aims to examine the impact of customer experience and customer engagement on customer satisfaction and customer loyalty in e-retailing in Indonesia. This study uses data from 512 respondents in six e-retailing namely; Bukalapak, Tokopedia, Lazada, Blibli, Shopee and Zalora which are often used by students at the Department of Management, Faculty of Economics and Business, Halu Oleo University of Indonesia. The structural model developed in this study was tested using Partial Least Squared (PLS). The results of the study found that there was a reciprocal relationship between customer experience and customer engagement. The results also found that customer experience and customer engagement have a positive and significant effect on customer satisfaction and customer loyalty. Customer satisfaction have a positive and significant effect on customer loyalty. In this study it was also found that customer experience has an indirect effect on customer satisfaction and customer loyalty through customer engagement, and customer engagement also has an indirect effect on customer satisfaction and customer loyalty through customer engagement. This study was focused on relationship between customer experience, customer engagement, satisfaction and loyalty. Therefore, future research is expected to be able to test the determinant factors of customer experience and customer engagement.