Implementation of friedman's analysis in banking sector mediclaim insurance
Keywords:
Friedman‟s rank test, Policy segmentation, Customer satisfaction, BancassuranceAbstract
Banking sector medical insurance have proven itself an important topic of discussion for last couple of years. Customer segmentation and customer satisfaction are two pivotal factors of this topic. Valued customers are the most essential factor of marketing for any business organization (private or public). Same concept is applicable for banking sector too. Banks provide medical policies to their personal customers in reasonable rate and flexible conditions. Policies are of different types with unlike features (attributes). Some of them are more adaptable than the other. As we know the interplay between theoretical ideas and data analysis could lead to major policy implications, in this paper we use Friedman‟s test for ranking preference and CRM for segmentation part in order to prefer policies in customer point of view.
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