Implementation of friedman's analysis in banking sector mediclaim insurance

Authors

  • Biswas P Sr. Lecturer, FST, ICFAI University, ICFAI,University Jharkhand. Ranchi
  • Bishnu PS Department of computer science, Birla Institute of Technology, Ranchi
  • Jha M Assistant professor FMS, ICFAI University

Keywords:

Friedman‟s rank test, Policy segmentation, Customer satisfaction, Bancassurance

Abstract

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.

References

Pratik Biswas ParthaSarathiBishnu,“Modelling health insurance selection in Indian market using Data Mining approach”, IUJ Journal of management, pp 72–77 vol 2. No1, May 2014.

.Chitra. K and Subashini.B, “Data Mining Techniques and its Applications in Banking Sector”, International Journal of Emerging Technology and Advanced Engineering,Vol3, Issue 8,pp219-226.2013.

Jayasree.V ,Vijayalakshmi.R and Balan.S, “A review on data mining in banking sector”, American Journal of Applied Sciences, pp.1160-1165, 2013.

.Biswas.P and Bishnu.P.S, “Application of Data Mining and CRM in Banking Sector MedicalInsurance”.International Journal of Innovative Research in Computerand Communication Engineering.,Vol. 3, Issue 1,pp. 38 – 46, 2015.

Biswas.P and Bishnu.P.S,” Preferential segmentation of Policy attributes in banking sector medical insurance through CRM and conjoint analysis”, International Journal of Research & Development in Technology and Management Science –Kailash, pp.40-53, Volume

– 22, Issue 3, 2015.

MohammadkarimBahadori,RaminRavangard , HojjatRahmani and Sana HajisaffarKermani,” Prioritizing the performance indicators of a large Insurance organization in Iran from the patients' perspective”.International Journal of Collaborative Research on Internal Medicine & Public Health..Vol. 4 No. 7 ,pp 1392-1400 ,2012.

HarryN.Boone, Jr.Deborah A. Boone, “AnalysingLikert Data”, journal of extension”, Volume 50 Number 2, Article Number 2TOT2, April 2012.

T.N Srivastava, ShailajaRego,” Statistics for Management”, Tata McGraw Hill Education Private Limited, 2009.

Costas Meghir,” A Retrospective on Friedman‟s Theory of Permanent Income”, November 2002.

.Kilem Li Gwet,”The Friedman Test with MS Excel In 3 Simple Steps”, 2011.

www.the oriental insurance.com

http://www.bankofindia.co.in/english/swasthya.aspx.

Randall R. Bovbjerg and Jack Hadley, “Why Health Insurance Is Important”. D DC SPG-SDC SPG no.1 November.pp. 1 – 3, 2007.

.http://www.streetdirectory.com/travel_guide/143391/health_insurance/why_is_health_insurance_important.html

.Tsiptsis.KandandChorianopou.A,“DataMining Techniques in CRM: Inside Customer Segmentation”. A John Wiley and Sons, Ltd., Publication, 2009.

Richard I.Levin, David S.Rubin. “Statistics for Management”, Pearson Education, Inc, 1998.

.N.D.Vora,”Quantitative techniques In Management”, Tata McGraw Hill Education Private Limited, 2009.

.KonstantinosTsiptsis,AntoniosChorianopoulos, “Data Mining Techniques in CRM”, A John Wiley and Sons, Ltd., Publication,2009.

Gordon S. Linoff, Mkichael J.A Berry ”Data mining Technique for Marketing,Sales and customer Relationship Management”, A John Wiley and Sons, Ltd., Publication,2006.

Kenneth Black, jr. Harold D. Skipper, jr.” Life & Health insurance”, Pearson Education, Inc, 2000.

.Hui-I Yao, Kok Wei Khong,”Effectiveness of Customer Relationship Management on Customer Satisfaction in the Commercial Banks of Taiwan.”

.SanjayKanti Das,”Customer relationship management in banking sector: a comparative study of SBI and other nationalized commercial banks in India”, Journal of Economics and Management (APJEM) Vol.1 Issue 6, ISSN 2278‐0629, September 2012.

FirasAlbazaz,Yuanhong (Nancy) Wei,”Strategic analysis and recommendations for healthcare insurance CRM solutions”, Simon fraser university, pp.1-101 Fall 2004

.Roger Gates, Carl McDaniel, Karin Braunsberger,” Modeling Consumer Health Plan Choice Behaviour to Improve Customer Value and Health Plan Market Share”, Journal of Business Research 48, pp.247-257, 2000.

. Suresh Chandra Bihari and MrinalMurdia,”CRM in Banking Sector with special reference to New Age Banks”,The Journal of Internet Banking and Commerce,

Downloads

Published

2024-02-26

How to Cite

Biswas, P., Bishnu, P., & Jha, M. (2024). Implementation of friedman’s analysis in banking sector mediclaim insurance. COMPUSOFT: An International Journal of Advanced Computer Technology, 5(05), 2115–2119. Retrieved from https://ijact.in/index.php/j/article/view/370

Issue

Section

Original Research Article

Similar Articles

<< < 1 2 3 4 5 6 7 8 > >> 

You may also start an advanced similarity search for this article.