Study On Application Of Data Mining Technology In Insurance Target Customer Identification

The insurance industry has been rapid development in the past10years. Long time’soperation makes the insurance companies accumulated a large number of historical sales data.At the same time, data mining has been rapid development in the past decade too. A lot ofhistorical data in Insurance companies can support the work of data mining, and let thehistorical data in Insurance companies to get the maximum use. Data mining technology canhelp the insurance company complete market division, recognize the high value customers,and make the insurance staff have a better marketing control.According to the characteristics of the insurance industry, compare the different betweeninsurance sales and customer sales, research and practice related theory of data miningtechnology in two aspects of the insurance industry are bound in the customer recognition andthe insurance sales activities.Firstly, through the study of literature study, the related theoretical knowledge to the studyof data mining is introduced, and analyzed the feasibility of application of data miningtechnology in the insurance industry from the theory. Then, to explore the related data of thesales management system, dispersed from the existing system and the huge amount of data indatabase collection, extract the customer related data, complete understanding of dataintegration, data preparation, define the target customers, at last, completed the targetidentification of mining tasks, verifed the feasibility of data mining technology in theinsurance industry from actual experiments. At the same time, the existing products to do amarket basket analysis facilitate the sales staff insurance bundled sales. Finally, summarize themain conclusions in the process of research and in the research process deficiencies, pointed outthe direction for future research and deficiencies of data mining technology in the insuranceindustry.