Open AccessConceptual Structure of the Insurance Company's Customer Database Management System
Author(s) -
Anastasiya Sergeevna Smirnova,
Anna Khanova
Publication year - 2020
Publication title -
izvestiâ ûgo-zapadnogo gosudarstvennogo universiteta
Language(s) - English
Resource type - Journals
eISSN - 2686-6757
pISSN - 2223-1560
DOI - 10.21869/2223-1560-2020-24-2-122-135
Subject(s) - customer intelligence , customer retention , customer lifetime value , customer to customer , customer profitability , customer advocacy , voice of the customer , computer science , market segmentation , customer equity , structuring , business , customer relationship management , process management , marketing , database , knowledge management , service quality , finance , service (business)
Purpose of research is to develop a conceptual structure for managing the customer database of the insurance company based on the integration of models of data mining and system dynamics. The implementation of the conceptual structure involves clustering the customer database, modelling the dynamics of the customer database and developing strategic goals for each segment of the customer database in order to increase customer lifetime value. Methods . The article presents a theory-multiple model of the insurance company activity in the context of customer relationship management, which made it possible to determine the logical structure, system relationships as well as a set of functions performed within this process. Results . The proposed conceptual structure of the customer relationship management system includes tools for analyzing key indicators of the customer database, segmenting the database using several clustering methods and structuring by indicators of customer's profitability, satisfaction with insurance services as well as strategizing sales development for each customer segment, which includes the formation of management decisions in the form of marketing activities, optimizing costs and expenses in promoting services on the market due to rational and competent positioning. Conclusion . Based on the task set, an algorithm that allows analyzing the customer database by key indicators, segmenting, structuring customers and forming sales development strategies of the insurance company aimed not only at retaining existing customers but also at increasing the value of each one by increasing customer lifetime value and increasing sales for each cluster as well as increasing the volume of insurance premiums by attracting new customers is proposed.