Behavior Segmentation based Micro-Segmentation Approach for Health Insurance Industry

Nandapala, E.Y.L; Jayasena, K.P.N; Rathnayaka, R. M. K. T.

doi:10.1109/icac51239.2020.9357282

Cited by 8 publications

(11 citation statements)

References 12 publications

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“…Las diferencias de comportamiento entre hombres, mujeres, adultos mayores y adolescentes son generalmente mostradas por la mayoría de las personas en esos grupos. Hay que tener cuidado con las variables originales puesto que, aun siendo significativas, no siempre lo son para todos los individuos del grupo (Gichuru & Limiri, 2017;Koul & Philip, 2021;Nandapala et al, 2020).…”

Section: Demográficosunclassified

Características de los emprendimientos de miel de abeja desde la perspectiva de los consumidores: Narihuala, Catacaos, Perú

2022

Savez Editorial

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Section: Demográficosunclassified

Características de los emprendimientos de miel de abeja desde la perspectiva de los consumidores: Narihuala, Catacaos, Perú

2022

Savez Editorial

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“…Beyond the traditional segmentation method, such as demographic segmentation, the author introduced a new micro-segmentation that is segmented by customers' behaviors. [8] Such a segmentation method starts its work from the result brought by the traditional segmentation method. It uses machine learning technology and Artificial intelligence enhanced algorithms like RFM analysis to divide the customers into specific subgroups.…”

Section: Different Ways Of Segmentationmentioning

confidence: 99%

“…From the RFM, the insurance company could identify each type of customer and provide specific strategies toward different customers. [8] It takes many steps to perform the complete segmentation analysis. First of all, the researchers need to clean the dataset.…”

Section: Different Ways Of Segmentationmentioning

confidence: 99%

Data-Driven Market Segmentation in Insurance Industry and Other Related Sectors

Chen¹,

Gao²,

Xiao³

2021

JFA

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This paper talks about various approaches and models on customer segmentation in the insurance industry and other related sectors. In today's business world, especially the customer-centered industry, the most critical task is to find the right customers and serve the customers the way that most suits them. In this paper, we put our focus on the insurance industry for several considerations. One insurance company can possess hundreds of different policies, so it is crucial for policy issuers to find suitable policies for different customers. Considering the complexity and variability of different policies, insurance companies view customer segmentation as necessary and the key point for companies to compete well. Therefore, we select the insurance industry to study the effect of data-driven approaches on customer segmentation. In the first part, we discussed the need for a new approach to classify the customers and several advantages of the data-driven approach over the traditional method. In the second part of the paper, segmentation approaches such as K-means clustering, hybrid clustering, rule mining, and decision tree are discussed respectively about their processes and features. In the third part, we talked about the two current customer segmentation applications that are widely used today. We also talked about the segmentation systems in determining the risk of transmission of COVID-19. In the last part, we conclude the paper with the comparison of different approaches we discussed.

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“…In fact, there are existing customer behavioral models developed for businesses to analyze customer behaviors to guide the decision-making process on the marketing strategies [4][5][6][7][8][9][10][11]. However, those models are solely developed for the e-Commerce, banking, and insurance industries instead of the Wi-Fi advertising business.…”

Section: Introductionmentioning

confidence: 99%

“…However, those models are solely developed for the e-Commerce, banking, and insurance industries instead of the Wi-Fi advertising business. The existing customer behavioral models investigate customer behaviors in terms of recency, frequency, and the purchase's monetary values since these industries are more concerned with the purchases made by customers [4][5][6][7][8][9][10][11]. However, the Wi-Fi advertising industry is more concerned of the audience engagement level towards the advertisement instead of their purchases.…”

Section: Introductionmentioning

confidence: 99%

New RFI Model for Behavioral Audience Segmentation in Wi-Fi Advertising System

Lim,

Ong,

Leow

2023

Future Internet

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In this technological era, businesses tend to place advertisements via the medium of Wi-Fi advertising to expose their brands and products to the public. Wi-Fi advertising offers a platform for businesses to leverage their marketing strategies to achieve desired goals, provided they have a thorough understanding of their audience’s behaviors. This paper aims to formulate a new RFI (recency, frequency, and interest) model that is able to analyze the behavior of the audience towards the advertisement. The audience’s interest is measured based on the relationship between their total view duration on an advertisement and its corresponding overall click received. With the help of a clustering algorithm to perform the dynamic segmentation, the patterns of the audience behaviors are then being interpreted by segmenting the audience based on their engagement behaviors. In the experiments, two different Wi-Fi advertising attributes are tested to prove the new RFI model is applicable to effectively interpret the audience engagement behaviors with the proposed dynamic characteristics range table. The weak and strongly engaged behavioral characteristics of the segmented behavioral patterns of the audience, such as in a one-time audience, are interpreted successfully with the dynamic-characteristics range table.

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Behavior Segmentation based Micro-Segmentation Approach for Health Insurance Industry

Cited by 8 publications

References 12 publications

Características de los emprendimientos de miel de abeja desde la perspectiva de los consumidores: Narihuala, Catacaos, Perú

Características de los emprendimientos de miel de abeja desde la perspectiva de los consumidores: Narihuala, Catacaos, Perú

Data-Driven Market Segmentation in Insurance Industry and Other Related Sectors

New RFI Model for Behavioral Audience Segmentation in Wi-Fi Advertising System

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