scholarly journals Labeling Customers Using Discovered Knowledge Case Study: Automobile Insurance Industry

2012 ◽  
Vol 3 (3) ◽  
pp. 13-24 ◽  
Author(s):  
SARAH AZADMANESH
Keyword(s):  
Insurance Industry ◽  
Automobile Insurance

Identifying Key Fraud Indicators in the Automobile Insurance Industry Using SQL Server Analysis Services

2019 ◽  
Vol 64 (2) ◽  
pp. 53-71
Author(s):  
Botond Benedek ◽  
Ede László
Keyword(s):  
Neural Network ◽  
Decision Tree ◽  
Naive Bayes ◽  
Insurance Industry ◽  
Naïve Bayes ◽  
Sql Server ◽  
Categorical Variables ◽  
Automobile Insurance ◽  
Price Determination ◽  
Mining Tool

Abstract Customer segmentation represents a true challenge in the automobile insurance industry, as datasets are large, multidimensional, unbalanced and it also requires a unique price determination based on the risk profile of the customer. Furthermore, the price determination of an insurance policy or the validity of the compensation claim, in most cases must be an instant decision. Therefore, the purpose of this research is to identify an easily usable data mining tool that is capable to identify key automobile insurance fraud indicators, facilitating the segmentation. In addition, the methods used by the tool, should be based primarily on numerical and categorical variables, as there is no well-functioning text mining tool for Central Eastern European languages. Hence, we decided on the SQL Server Analysis Services (SSAS) tool and to compare the performance of the decision tree, neural network and Naïve Bayes methods. The results suggest that decision tree and neural network are more suitable than Naïve Bayes, however the best conclusion can be drawn if we use the decision tree and neural network together.

Searching Dimensions and Directions for Digital Innovations Within the Insurance Industry

2021 ◽  
Vol 12 (2) ◽  
pp. 63-89
Author(s):  
Heini Hyttinen ◽  
Hannu Kalevi Kivijärvi ◽  
Anssi Öörni
Keyword(s):  
Insurance Industry ◽  
Principal Component ◽  
Knowledge Synthesis ◽  
Insurance Companies ◽  
Process Automation ◽  
Structured Interviews ◽  
Organizational Capability ◽  
Pension Insurance ◽  
Digital Innovation

Discovery of digital innovations is a key organizational capability for sustaining competitive advantage. Despite its importance, discovery of digital innovations is still ill understood. In this paper, the authors seek to provide a theory-based practice for digital innovation discovery. To meet this objective, they source the theories of knowledge and knowledge combination. Data for this case study were collected through semi-structured interviews and a quantitative questionnaire from three pension insurance companies. The data were analyzed by using principal component analysis and by constructing biplots based of the results. Two significant dimensions in the digitalization needs that guide knowledge synthesis were recognized: the importance of adopting the enabler and the volume of resources needed to adopt the enabler. A closer look at the enablers revealed that the most business-critical current digital business enablers for the pension insurance industry are business process automation, online services, and big data.

Women at work: a case study of the insurance industry

1985 ◽  
Vol 16 (4) ◽  
pp. 75-84 ◽  
Author(s):  
John Benson ◽  
Gerard Griffin
Keyword(s):  
Insurance Industry

Building a Digitally Enabled Future: An Insurance Industry Case Study on Digitalization

2018 ◽  
pp. 249-269 ◽  
Author(s):  
Janina Weingarth ◽  
Julian Hagenschulte ◽  
Nikolaus Schmidt ◽  
Markus Balser
Keyword(s):  
Insurance Industry

Multi-Method Analysis

2015 ◽  
pp. 184-198
Author(s):  
Przemyslaw Tomczyk
Keyword(s):  
Insurance Industry ◽  
Model Development ◽  
Interdisciplinary Approach ◽  
Value Management ◽  
Synergy Effect ◽  
Customer Lifetime ◽  
Lifetime Value ◽  
Depth Interviews ◽  
Method Analysis

Multi-Method Analysis (MMA) can be understood as an interdisciplinary approach to the triangulation of research results or deepening of knowledge gained as a result of classical hypotheses testing by means of statistical analysis. In this case, the synergy effect obtained by using MMA as a combination of the quantitative (survey research) and qualitative (In-Depth Interviews – IDI) analysis is presented. To achieve the empirical bases of the study, a theoretical model is used as a marketing management example. The model refers to firm performance as a result of customer lifetime value management. The essence of the case study is to present the whole research to illustrate the researcher's way of thinking from conceptual model development through quantitative hypothesis testing and qualitative explanation. The research was conducted from 2012 – 2013 in the insurance industry in Poland.

Case Study on Relationship Marketing

2014 ◽  
pp. 22-26
Author(s):  
Bhawana Sharma ◽  
Tulika Sood
Keyword(s):  
Relationship Marketing ◽  
Service Industry ◽  
Insurance Industry ◽  
Sales Representative ◽  
Prime Concern ◽  
Lifetime Value ◽  
Production Concept ◽  
Brand Ambassadors

A paradigm shift has occurred in the concepts of marketing from the production concept to the societal concept. A prominent concept today is the customer concept, which aims to build loyalty and lifetime value by creating, maintaining, and enhancing relationships with the customer by addressing individual customer needs. Relationship marketing is a bifurcation from the customer concept, which seeks to earn and retain long-term preferences, business, and ultimately, a marketing network. In relationship marketing, both parties collaborate on identifying needs to fulfill. Immediate sales are not of prime concern in this model. Organizations should understand the fact of when–and how–to use relationship marketing. The five R’s of Relationship Marketing are Relationship, Realization, Response, Relevance, & Respect. This case study addresses relationship marketing focusing on a service industry (i.e. Insurance Industry). A Sales representative needs to bond well with all his clients in order to be able to meet their expectations as required. Therefore, an employee with good PR skills is sure to climb the ladder of success. The protagonist in the case study, Mr. Sahil Sharma, an Employee of AFRO-INDIA Insurance Ltd., guides and trains his entire team to build, maintain, and enhance their relationship with their clients. This will not only make the clients loyal to the organization, but also will also make them brand ambassadors through word of mouth.

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