• The Journal of the Korea Contents Association
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• v.8 no.5
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• pp.192-206
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• 2008

With many changes such as the increase in telemarketing, internet marketing and enforcement of bancassurance, the Korean life insurance companies have undergone a startling transformation. The purpose of this paper is to measure and analyse the static/dynamic efficiency of Korean life insurance companies employing Data Envelopment Analysis(DEA). As the result of the static efficiency analysis, we provide CCR, BCC and scale efficiency, return to scale, and reference set of Korean life insurance companies in 2004. And we also describe about the trend and stability of their efficiency for 7 years(1998-2004) in the dynamic efficiency analysis.

• Journal of Digital Convergence
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• v.14 no.4
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• pp.231-237
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• 2016

The private health insurance covers areas that are not covered by the national health insurance to reinforce insurance guarantee. Realistically, however, many people renunciate small sum insurance claims because the inconvenient claim procedures require a certificate from the hospital for resubmission to the insurance company, which is very time consuming. Therefore, One-stop insurance payout claiming system that is capable of one stop processing of the issuance of e-page safer technology-based certification to claiming of insurance payout by utilizing authorized electronic address (#-mail) through the utilization of private information concealment technology and identification certification technology for the convenience of the subscribers and the simplification of operation was developed.

• Korea Journal of Hospital Management
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• v.17 no.2
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• pp.21-33
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• 2012

Purpose : This study aims to suggest application of patients DB to hospital marketing by performing market segmentation and selecting target market. Consequently help to establish suited strategy of marketing. Method : 14,072 patients hospitalized in a University Medical Center were recruited into this study. In order to classify the customer groups, cluster analysis was used with RFM(Recency, Frequency, Monetary) model, and 1-way ANOVA verified the differences among groups. And then, sociodemographical status, healthcare utilization and diagnosis(ICD-10) of each group were compared to draw a marketing strategy. Results : Four groups were classified through clustering analysis, and'high use and high profit' and'low use and high profit' groups were selected as a target market. The features of target market were as follows, the female proportion was high; used a private room; hospitalized through the emergency room; had operation; length of stay was long; had many comorbidity and cooperative treatment. There was difference in each feature of target market: as for the'high use and high profit' group, many patients were diagnosed with 'certain infectious and parasitic diseases'; and as for the'low use and high profit'group, the proportion of patients who purchased'industrial accident compensation insurance'and'auto insurance'was relatively high; many patients were diagnosed with'Injury, poisoning and certain other consequences of external causes'. Conclusion : It is needed to establish'positioning' strategy by monitoring and communicating with'high use and high profit' group. And for the case of'low use and high profit' group, it is necessary to make a follow-up management and lead them to have a medical check-up.

• Korea Journal of Hospital Management
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• v.24 no.1
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• pp.21-35
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• 2019

Purposes: This study examines academic research trends and the change of patterns by analyzing researches related to healthcare service marketing from 1988 to 2016. Methodology: As research subjects, a total of 486 published articles were selected. It's to analyze them by dividing into research topics, methods and data by classifying the period into 1988-1999, 2000-2009, 2010-2016. Findings: From 1988 to 2016, 486 research articles on healthcare service marketing were published in academic journals. Research on healthcare service marketing has steadily increased. Most of the articles were about service quality, satisfaction, revisitation, and reuse. 452 research articles were quantitative research. Generally questionnaire surveys were used. Practical Implications: We suggest future research directions on the basis of the status of research on healthcare service marketing for the last 30 years.

• Journal of the Korean Data and Information Science Society
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• v.20 no.4
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• pp.673-684
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• 2009

Lower Prices are offered through sales by telemarketing. This is to serve our customers by the fastest and most appropriate referral product that is most important to attract insurance. Therefore, Considering the time the customer's preferred products and preferred customer for screening and targeting, depending on what is the difference between the premiums. This study of the logistic regression model using datamining techniques, the life insurance companies in outbound telemarketing to support sales of the effect you want to validate. To join existing life insurance companies for the customer response and sales strategy based on the L segment and by age group, family-love insurance, accident insurance, and cancer insurance were in progress for the modeling. Set model based on the progress of the campaign to existing customers marketing methods and how to extract and run the model results has proven the superiority of the model. In addition, over time, depending on the aging model is set to a decline in operating profit to maximize the profits th update the model which was derived.

• The Journal of the Korea Contents Association
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• v.14 no.5
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• pp.332-346
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• 2014

The study supports not only the implicative results and strategic implication to social media staff and managers, but also extended the marketing studies in Korean financial institutions. This paper examined the effect of market orientation on social media marketing performance in the Korean financial institituions. Narver and Slater's market orientation theory was employed for the structural equation model framework. Indirect and direct implication on the social media marketing performance were analyzed. This study conducted online survey social media marketing staff and managers in 230 Korean financial institutions such as banks, securities, asset management, credit card, insurance companies. 102 responses were collected and analyzed. The results revealed that financial institutions' customer orientation, competitor orientation and inter-functional coordination have a positive impact on marketing communications execution degree but not direct effect on social media marketing performance except competitor orientation. Although it does not appear to have a statistically significant association between market orientation two concepts such as customer orientation and inter-functional coordination, and social media marketing performance directly, the competitive orientation has statistically positive impact.

• Asia Marketing Journal
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• v.12 no.2
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• pp.111-133
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• 2010

Marketing financial services used to be easier. Today, the competition in financial services is fierce. Not only has the competition become more intense, financial services have also changed structurally. In an environment with various customer needs and severe competitions, the marketing in financial services industry is getting more difficult and more important than before. However, there are still not enough studies on financial services marketing in Korea whereas lots of research papers have been published frequently in some international journals. The purpose of this paper is (1)to review the literature on financial services marketing, (2)to investigate current marketing activities based on in-depth interview with financial marketing managers in Korea, and (3)to suggest some implications for future research on the financial services marketing. Financial products are not consumer products. In fact, they are not products at all in the way product marketing is usually described. Nor are they altogether like services. The financial industry operates in a unique way, and its marketing tasks are correspondingly complex. However, the literature review shows that there has been a lack of basic studies which dealt with inherent characteristics of financial services marketing compared to the research on marketing in other industries. Many studies in domestic marketing journals have so far focused only on the general customer behaviors and the special issues in some financial industries. However, for more effective financial services marketing, we have to answer following questions. Is there any difference between financial service marketing and consumer packaged goods marketing? What are the differences between the financial services marketing and other services marketing such as education and health services? Are there different ways of marketing among banks, securities firms, insurance firms, and credit card companies? In other words, we need more detailed research as well as basic studies about the financial services marketing. For example, we need concrete definitions of financial services marketing, bank marketing, securities firm marketing, and etc. It is also required to compare the characteristics of each marketing within the financial services industry. The products sold in each market have different characteristics such as duration and degree of risk-taking. It means that there are sub-categories in financial services marketing. We have to consider them in the future research on the financial services marketing. It is also necessary to study customer decision making process in the financial markets. There have been little research on how customers search and process information, compare alternatives, make final decision, and repeat their choices. Because financial services have some unique characteristics, we need different understandings in the customer behaviors compared to the behaviors in other service markets. And also considering the rapid growth in financial markets and upcoming severe competition between domestic and global financial companies, it is time to start more systematic and detailed research on financial services marketing in Korea. In the second part of this paper, I analyzed the results of in-depth interview with 20 marketing managers of financial services companies in Korea. As a result, I found that the role of marketing departments in Korean financial companies are mainly focused on the short-term activities such as sales support, promotion, and CRM data analysis although the size and history of marketing departments to some extent show a sign of maturity. Most companies established official marketing departments before 2001. Average number of employees in a marketing department is about 58. However, marketing managers in eight companies(40% of the sample) still think that the purpose of marketing is only to support and manage general sales activities. It shows that some companies have sales-oriented concept rather than marketing-oriented concept. I also found three key words which marketing managers think importantly in financial services markets. They are (1)Trust in customer relationship, (2)Brand differentiation, and (3)Rapid response to customer needs. 50% of the sample support that "Trust" is the most important key word in the financial services marketing. It is interesting that 80% of banks and securities companies think that "Trust" is the most important thing, whereas managers in credit card companies consider "Rapid response to customer needs" as the most important key word in their market. In addition, there are different problems recognition of marketing managers depending on the types of financial industries they belong to. For example, in the case of banks and insurance companies, marketing managers consider "a lack of communication with other departments" as the most serious problem. On the other hand, in the case of securities firms, "a lack of utilization of customer data" is the most serious problem. These results imply that there are different important factors for the customer satisfaction depending on the types of financial industries, and managers have to consider them when marketing financial products in more effective ways. For example, It will be necessary for marketing managers to study different important factors which affect customer satisfaction, repeat purchase, degree of risk-taking, and possibility of cross-selling according to the types of financial industries. I also suggested six hypothetical propositions for the future research.

• Asia-Pacific Journal of Business
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• v.3 no.1
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• pp.39-47
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• 2012

Organizations pursue a CRM strategy for the purpose of increasing business performance and value. However, firms face a multitude of organizational challenges associated with this endeavor. To reduce their risk of failure, it is suggested that firms undertake a deep analysis of organizational readiness prior to committing to a CRM initiative. Insurance sector is no exception to this fact. There is an increased need to concentrate on the various challenges thrown open by the public insurance firms in implementing CRM. Many insurance firms have invested into customer driven CRM but research indicates varying outcomes (Schmith 2004). While it is clear that there are significant issues involved in the CRM implementation and success and environment faced by the public sector. It is clear that business should have an easier time in applying CRM systems is the strategic value for public sector. With customers demanding more service and accessibility from administrators, public sector CRM software technologies have to offer best solutions for achieving process and cost objectives (Souder 2001). With results which go far beyond improved service delivery and include sustained cost reductions, increased customer knowledge and better employee morale, CRM software implementation and post product environments offer great upside value. Although there are material differences in public sector use of CRM strategy, they share at least one glaring similarity - they have much to gain from proven CRM software technology. As business methods cross over in the public sector, many government bodies are investigating how they can adopt and adapt various CRM models (Bleyer 2003). There is a need to understand the similarities and differences in public sector CRM to foster shared knowledge, business processes and planning functions to integrate disparate technologies and software platforms and then, of course, the organizational culture to support knowledge sharing (Peters 1997). For the public sector, there are clearly identified CRM processes which have resulted in increased profits and improved efficiency. These have focused on sales, marketing and customer service activities, which often operate along fundamentally different lines in various public sector insurance companies. Thus the present research paper makes an attempt to explore how public sector CRM methods can be adopted and subsequently adapted.

• The Journal of the Korea Contents Association
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• v.21 no.11
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• pp.490-502
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• 2021

Horticultural facility farmers subscribe to crop accident insurance and insurance products secured by horticultural facilities in preparation for possible risks in the facility. Insurance is purchased to prepare for natural disasters such as typhoons, hail, frostbite, heavy rain, and strong wind damage covered by the product. In order to find out the effect of risk perception, which is a subjective perception of the risks of a given situation, on horticultural facility farmers' intention to purchase horticultural facility insurance products, the risk perception and insurance purchase intention were analyzed. A t-test was conducted to determine the impact relationship between farm size, insurance coverage, and risk perception, and multiple regression analysis was conducted to verify the effect of personal characteristics and behavioral factors such as subjective perception, reference group, media exposure, and compensation understanding. In addition, a three-step regression analysis by Baron & Kenny was conducted to confirm the mediating role of personal characteristics and behavioral factors in the relationship between risk perception and insurance purchase intention. As a result of the study, although there was no difference in farm size, it was analyzed that policy holders had a higher degree of risk perception than non-subscribers, and that compensation understanding had the greatest influence and subjective knowledge had the smallest influence. In addition, these four factors were verified to have a mediating effect on the relationship between risk perception and insurance purchase intention. These results are expected to provide practical help to the development and marketing activities of horticultural facility insurance products.

• The Journal of Society for e-Business Studies
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• v.14 no.1
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• pp.121-142
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• 2009

In this study, the marketing activity of medical service providers via Internet was considered as a new technology for approaching this problem and the consumers' acceptance of the new marketing activity was analyzed through the TAM (Technology Acceptance Model) path analysis. The path analysis was conducted for the non-insured medical departments and the insured medical departments. The path analysis revealed that the consumers felt usefulness of the marketing activity of non-insured medical service providers, which means that they have intention to accept and are satisfied with the Internet marketing activity provided by non-insured medical service departments. On the other hand, in the case of insured medical service, it was clarified that the 'easy of use' preferentially affects the users' intention of accepting the marketing activity rather than 'usefulness'.