• Title/Summary/Keyword: Insurance marketing

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A Model for Effective Customer Classification Using LTV and Churn Probability : Application of Holistic Profit Method (고객의 이탈 가능성과 LTV를 이용한 고객등급화 모형개발에 관한 연구)

  • Lee, HoonYoung;Yang, JooHwan;Ryu, Chi Hun
    • Journal of Intelligence and Information Systems
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    • v.12 no.4
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    • pp.109-126
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    • 2006
  • An effective customer classification has been essential for the successful customer relationship management. The typical customer rating is carried out by the proportionally allocating the customers into classes in terms of their life time values. However, since this method does not accurately reflect the homogeneity within a class along with the heterogeneity between classes, there would be many problems incurred due to the misclassification. This paper suggests a new method of rating customer using Holistic profit technique, and validates the new method using the customer data provided by an insurance company. Holistic profit is one of the methods used for deciding the cutoff score in screening the loan application. By rating customers using the proposed techniques, insurance companies could effectively perform customer relationship management and diverse marketing activities.

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A Study on the Determinants of Transaction Relationship - Types in Domestic Banks (국내 은행의 거래관계유형 결정요인에 관한 연구)

  • Lee, In-Gu
    • Korean Business Review
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    • v.14
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    • pp.149-168
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    • 2001
  • Service firms have always been relationship oriented. the nature of service businesses is relationship based. As service finns, like banks, insurance finns, have grown, The masses of consumers have made the establishment of true relationships more difficult. Understanding the motivations of consumers to engage in relationships with marketers is important for both practitioners and marketing scholars. To develop an effective theory of relationship marketing, It is necessary to understand what motives consumers to reduce their available market choices. This article focuses on the development of the successful relationship strategies in domestic banks. The results of this study show the four types of relationship strategies - social bonds, structural bonds, financial bonds, and other bonds. Although the effectiveness of these strategies differs as the types of performances, All four types of relationship strategies are essential for building and maintaining relationships with customers. Totally, the order of influences on the performance is as follows; financial bonds, structural bonds, and social bonds.

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Analysis of Korean Medicine Market and Strategies after the conclusion of a Korea-China FTA through the Scenario Planning Approach (시나리오 플래닝기법을 활용한 한.중 FTA 체결이후의 한의서비스 시장 분석 및 대응전략)

  • Kim, Jung-Min;Lim, Byung-Mook;Shin, Mi-Sook
    • Journal of Society of Preventive Korean Medicine
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    • v.16 no.2
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    • pp.53-65
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    • 2012
  • Objectives : This study aimed to analyze the fundamentals of a Korea-China FTA and suggest strategies for Korean medicine market that correspond with each scenario selected from foreseen circumstances after the conclusion of the FTA through the scenario planning, which is one of management techniques. Methods : Four scenarios have been established by means of key questions : the scope of FTA, health care policies, and the combination of western medicine(WM) and Korean medicine(KM). Each scenario is defined as the Maximized Competitive Market, Neutral Market, General Completive Market, and Conservative Market. This study suggests brand marketing, extending of health insurance coverage, launching local network, and strategy for Korean medicine based health promotion programs. Results and Conclusions : Although Korean medicine could be prompted by the trade policies between countries, related studies are very limited. Therefore, more research is needed to suggest the detailed strategies for change of Korean medicine market through various strategic analysis tools.

Development of Data Warehouse Systems to Support Cost Analysis in the Ship Production (조선산업의 비용분석 데이터 웨어하우스 시스템 개발)

  • Hwang, Sung-Ryong;Kim, Jae-Gyun;Jang, Gil-Sang
    • IE interfaces
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    • v.15 no.2
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    • pp.159-171
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    • 2002
  • Data Warehouses integrate data from multiple heterogeneous information sources and transform them into a multidimensional representation for decision support applications. Data warehousing has emerged as one of the most powerful tools in delivering information to users. Most previous researches have focused on marketing, customer service, financing, and insurance industry. Further, relatively less research has been done on data warehouse systems in the complex manufacturing industry such as ship production, which is characterized complex product structures and production processes. In the ship production, data warehouse systems is a requisite for effective cost analysis because collecting and analysis of diverse and large of cost-related(material/production cost, productivity) data in its operational systems, was becoming increasingly cumbersome and time consuming. This paper proposes architecture of the data warehouse systems to support cost analysis in the ship production. Also, in order to illustrate the usefulness of the proposed architecture, the prototype system is designed and implemented with the object of the enterprise of producing a large-scale ship.

A Study on the Discrimination of Use Intention by Critical T-Commerce Factors (T-Commerce 요인에 따른 사용의도 판별에 관한 연구)

  • Kim, Ju-An
    • International Commerce and Information Review
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    • v.8 no.3
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    • pp.71-95
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    • 2006
  • In recent, T-commerce is widely dispersed as alternative type of commerce. It is forecasted that t-commerce system is used more than e-commerce system. Therefore more and more t-commerce-related industries are also recognizing that t-commerce is a critical business model. It is needed to understand the concept of t-commerce and develop the t-commerce marketing strategy. CEO analyses consumer's behaviors according to the data about buyers and applies the advantage of t-commerce to the communication with customers. This t-commerce system plays an important role in maximizing customer satisfaction and affecting their intention to reuse it. Therefore this paper attempts to identify T-commerce critical success factors and divide between use-intention group and unuse-intention group by taking out a discriminant function by the discriminant analysis. This lays a foundation in developing T-commerce strategy. According to the discriminant function extracted, convenience factor, amusement factor, system quality factor, product perception factor are significant in the sequence of influential degree. However, usefulness factor and speedy connection factor are not significant. In result, the target hitting rate is 77.9% in the first unuse-intention group and it is 95.2% in the second use-intention group. The total discriminant target hitting rate is computed to higher value, 86.55%. The statistic package, SPSS 12.0, is used to survey and analyse data and test the hypothesis. The validity and reliability of variables are verified by both reliability analysis and factor analysis. The discriminant analysis is used to tell the difference between use-intention group and unuse-intention group.

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Plan for Invigoration of Visiting Nursing Center in Long-Term Care Insurance for the Elderly - Through SWOT Analysis - (노인장기요양보험 내 방문간호센터 운영의 활성화 방안 - SWOT 분석을 중심으로 -)

  • Byeon, Do Hwa
    • Journal of Korean Public Health Nursing
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    • v.29 no.2
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    • pp.203-218
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    • 2015
  • Purpose: The purpose of this study is to find and suggest ways to invigorate operation of visiting nursing centers. Methods: SWOT analysis was performed based on the status of use of visiting nursing centers and opinion survey on the centers' nursing experts. Results: SO strategy was drawn to improve service satisfaction, develop standardized manuals, and improve the areas of visiting nursing services, and WO strategy was drawn to establish reliability, strengthen promotion or marketing strategy, strengthen management ability, and reinforce the governmental support of visiting nursing services. ST strategy was drawn to recover the functionality of health management, secure competitive advantage, and simplify the issuance of visiting nursing directions, and WT strategy was drawn to provide customized service, establish the cooperative system of related agencies, and adjust fees. Conclusion: For invigoration of visiting nursing centers, people must recognize the importance of the visiting nursing service and institutional standards should be established so that visiting nursing service, which is currently provided as an option according to Standard Long-Term Care Plan, can be provided on a mandatory basis.

Explaining Share of Farm Loss Systemic with County Loss in the United States?

  • Kim, Sang-Hyo;Lim, Jin-Soon;Zulauf, Carl
    • Journal of Distribution Science
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    • v.15 no.11
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    • pp.21-29
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    • 2017
  • Purpose - Relationship between farm and county losses determines whether the county program provides too little, too much, or similar amount of assistance relative to the loss on an individual farm. A review of the literature finds limited analysis of the determinants of this relationship. This paper conducts such an analysis using farm-level yield data. Research design, data, and methodology - Farm-level yield data from Illinois and Kansas farm business management associations are used for to calculate the correlation between farm and county loss and the share of farm loss systemic with county loss, and also for the regression analysis. Results - Average share of farm loss systemic with the county loss lies between 42% and 68%. The correlation between farm and county yield/revenue deviation from expected value is statistically significant in all four models. The coefficient is positive, implying the higher the correlation, the larger the share of farm loss that is systemic with the county loss. Conclusions - The findings of this study are consistent with the existing literature which argues that county variability may not be closely associated with farm variability. The findings of this study thus raise questions about the efficacy of area yield and revenue insurance products in helping farmers manage their risk.

Research on Farming Practice Change of Low-pesticide Farmers (저농약인증 농가의 유기.무농약 전환의향 분석)

  • Jeong, Hak-Kyun;Moon, Dong-Hyun
    • Korean Journal of Organic Agriculture
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    • v.21 no.2
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    • pp.139-155
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    • 2013
  • The purpose of this study is to analyze the effects of abolishing the low-pesticide agricultural product certification on environmentally friendly farming. A survey was conducted to quantitatively analyze farming practices and factors that change farming practice. It was found that only 17.0% of low-pesticide fruit farmers said that they will change their farming practice into organic or pesticide-free farming. With regard to the factors of farming practice change, binomial logistic regression model was applied for the analysis. In the analysis, it was found that farmers who grow the low-pesticide agricultural product are more likely to change their farming practice into organic or pesticide-free farming, as their expected price of organic or pesticide-free products is high, their area size is small, price premium of low-pesticide agricultural product is low, the frequency of their training is high. It is necessary to enhance the direct payment system to enlarge organic and nonpesticide acreage, and pest management techniques for fruits should be developed for low-pesticide fruit farmers to change their practice into organic and nonpesticide practice. Dissemination of cultivation manual, introduction of insurance to farmers, improvement of certificate system, and advertising and marketing of environment-friendly agricultural products are useful to develop environment-friendly agriculture.

Design of Integrated Database for CRM in Automobile Maintenance Industry

  • Jung, Lee-Sang;Jung, Dae-Hyun
    • Journal of the Korea Society of Computer and Information
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    • v.23 no.5
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    • pp.55-63
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    • 2018
  • In this paper, we designed a system that integrate and organize customer management programs and databases, which are performed independently of each other. And we designed the system so that it can be used for future marketing by implementing the system to share and efficiently utilize mutual independent maintenance information. From the CRM perspective, a comprehensive information system ghat manages every information on both new cars and second hand cares grom their purchase, to parts, to insurance, and to scraping needs to be established. The following should be applied in the establishment of the IAMS. Auto makers or auto maintenance services providers exclusive management of information on customers and their car maintenance services is aggravating the customer's inconvenience and complaints. In addition, the service provider has difficulty providing consistent maintenance services because it has little information about previous auto maintenance services the customer received. Besides, the customers who have no information on costs of parts and labor tend to hesitate to trust the costs of maintenance services. This study to provide customers with systematic maintenance service and causing them some inconvenience. Therefore, in order to maintain existing customers, auto maintenance service providers should provide services the customers wanted on the basis of accurate information about them.

Hospital Selection Factors and Patient Satisfaction of Refractive Surgery Patients (시력교정수술환자의 병원선택요인과 만족도)

  • Lee, Gu-Seul;Sohn, Tae-Yong
    • The Korean Journal of Health Service Management
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    • v.6 no.4
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    • pp.279-294
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    • 2012
  • The study compared refractive surgery patients' hospital selection factors and satisfaction, through this to see the factors influencing patients' satisfaction, aiming at 235 patients visiting two Eye hospitals. The research results are followed. First, target group's hospital selection factors appeared facilities and environment factor, reliability factor, personal service factor, and accessibility factor in the order. Second, patients' satisfaction appeared reliability factor, facilities and environment factor, and personal factor in the order. Fourth, in the result comparing patients' expectation on hospital selection and satisfaction score, all factors of facilities and environment, personal service, and reliability had high satisfaction score than expectation. Third, in the result of factors influencing refractive surgery patients' satisfaction, in surgery determination period, surgery expenditure, and hospital selection factors among characteristics relating to refractive surgery, facilities and environment, personal service, and reliability appeared as satisfaction influencing factors. In conclusion, the study found that hospital selection factors and satisfaction influencing factors by refractive surgery patients' surgery type are considered to be able to be used to establish marketing strategy in the fields excluded from insurance application, the researches to improve patients' satisfaction in patient-oriented medical market should be continuously proceeded.