Two major trends in insurance industry information: Data mining CRM
From: China Business Intelligence Network Author: xynet Date: July 2, 2004 Views: 98
As the most rapid growth in my country's financial market, insurance companies have become a key to improve competitiveness by means of informationization. During the insurance informationization process, after completing the construction integration of basic business systems, the demand for data mining and CRM will dominate the future of various insurance companies in a long period of time. Liu Hongying, the accountant of Panjin City, Liaoning Province, has a deep study of insurance informationization, and publishes nearly ten articles of academic articles. For the Chinese Customer Relationship Management Research Center, a senior consultant. On behalf of the work, "Work Cost Management", "Leading - City Operating Selling Point Bible", its work is widely praised by professionals. Current research field: bank, insurance, securities company information implementation case study. In 2003, all China's insurance industry people will be an unforgettable time: not only achieve the successful listing of insurance companies and capital markets, completing the two "benchmark companies" of human security and life, but also achieve national premium income The new high, reached 38.84 billion yuan, the growth rate is up to 27.1%. In the first three years of the 21st century, the development of the insurance industry has made everyone: 2001 China's insurance industry premium income broke through 200 billion yuan, in 2002, China's insurance industry premium income reached 305.31 billion yuan; It is expected that in 2004, China Insurance Industry The premium income exceeded 400 billion yuan mark, which has become a target of the day. After application, it is true to join the WTO, foreign insurance companies have entered, which gives a huge impact on China's life insurance, property and reinsurance. Working along the conventional operations, it is unable to help Chinese insurance companies cultivate their own competitiveness. Only by auto insurance, starting from January 1, 2003, the new auto insurance terms started to implement, motor vehicle insurance in the market opening, freedom, fierce competition, insurance companies even for customers who purchased the same model It is also necessary to consider the age, different factors such as driving age, and take a flexible premium strategy. This, there is no support for IT systems, there is no integration management of customer information, there is no integrated business data and accurate data mining capabilities, there is no complete actuarial model, obviously unable to implement. Universible will suspect that China will be the largest emerging insurance market. However, in terms of data mining and CRM, the application status of China's insurance companies makes anyone else. While business and technology investment, the Insurance company is invested in CRM applications, customer resource integration management, obviously unable to adapt to its fast growth momentum. Compared to the general entry into China's world insurance companies, China's insurance company's CRM application is indisputable. Jumping out of the "low IQ" competition information is considered the lifeline of the financial industry, and the insurance company is in the case of the end of the company's life. In the past 10 years, the domestic insurance industry has been in an acceleration state. In 2003, the China Insurance Industry IT Application Market is more recorded by large-scale insurance companies and newly established small insurance companies. Informance in informationization has no effort. However, while huge investment, the information technology combination is more sharp, efficient and complex, and has not been widely mastered by China Insurance Enterprises. Use some insurance company's business personnel to describe this status quo: report, report full of days, do not know which no moisture; data, digital is everywhere, I don't know which one is true; customer, business is everywhere, I don't know which one is the most arrested; , Decision-making every day, I don't know which one has it. At present, the universal status of China's insurance industry data management is to bring together a large number of customer information and business data, but because the means and tools that lack the knowledge behind the data, the "data explosion but effective information is poor", "information is complicated Business Knowledge Isolate "- If there is no change in the situation, the insurance company will have a long time in the" low IQ "business operation.
From business data to business knowledge, data warehouses based on data mining (DM), decision support system (DSS), will be sought after by insurance companies in the next few years. In order to improve the level of decision-making, the business intelligence (BI), insurance companies often need to perform data mining (DM) for online analysis processing (OLAP), with large-scale data, and discharge, transform, loading, etc. The association and trend between a large amount of information, exploring unique, can't find business laws and patterns that cannot be found through other methods. In general, the task of data mining can be divided into four levels: data analysis, knowledge discovery, decision support and financial intelligence. As shown in the figure: Data analysis, knowledge discovery, decision support and financial intelligence, not only the tasks of different levels of data mining, but also reflects the planning scheme in the insurance company in data mining. Early insurance data warehouse construction, focusing on data analysis and knowledge discovery, such as providing unified timely business reports, providing integrated customer information. When there is a corresponding data mining foundation, insurance companies may introduce data warehouses into decision support and business intelligence, more concerned about providing decision-making information support, assist business management, analysis, and evaluation of the world's subjective field, thus helping The insurance company jumped out of the "low IQ competition". Promote multi-level CRM applications today's China insurance industry, no longer a closed market and monopoly, international insurance companies are increasing new products and new services. Committed to improving the core competitive Chinese insurance companies through electronic and customer relationship management systems, we must start from the core business needs, and effectively promote their own multi-level CRM applications. From a business demand, as a typical financial services industry, the main business of insurance companies is concentrated in insurance products sales, risk control, financial management and investment management. In the process of business systems, current insurance companies are divided into three levels: core business processing systems, financial investment management systems and risk management systems. Core business processing mainly includes insurance products sales, policy processing, review, order, preservation (approval), and payment, etc., reflecting the main process of traditional insurance business; financial and investment management mainly involves financial accounting, fund management, and out Investment management of value-added targets, as well as the corresponding business management of the fund, the bond market; the risk management system includes risk control, performance appraisal, reinsurance and other content. In fact, the insurance system divided by the business is based on the change of the insurance company's management system, the business process will inevitably change. Most importantly, if the system's design application is not based on customer-centric, if the customer's insurance demand is based, the quality of service and sales performance of insurance companies cannot be greatly improved. In other words, the insurance company pushes the CRM application on the basis of the original business system, and must start from multiple hierarchies. First of all, we must improve customer service, improve customer service level. If there is no support for CRM technology systems, call centers, etc., enterprises are difficult to improve quality, standardize the quality of service; second, insurance companies must break through the integrated management customer information To do key customer management work, stabilize and develop quality insurance customers; third, insurance companies must integrate data, analyze business development in real time, thus adopting marketing and adjustment strategies, improve their sales management and business management; Fourth, it is necessary to enhance the risk control by analyzing data, through indicators and models; fifth, to analyze customer needs to develop new products, implement integration with business systems, and improve insurance companies Decision support and business intelligence level.
