Each product or services is tailored to match the needs of the customer group. Whole of Life Assurance Market 2020 Global Trend, Segmentation and Opportunities, Forecast 2025. Optimised press releases appear in Google News. Segments include 1. household sector 2. industrial sector 3. trade sector … Market segmentation is an extension of market research that seeks to identify targeted groups of consumers to tailor products and branding in a … Grover N. (2014) A study of various Fuzzy Clustering Algorithms. Wise Guy Reports understand how essential statistical surveying information is for your organization or association. [11] Lin J. Segmentation of the Deloitte 2018 Survey of US Consumers Since 2008, the Deloitte Center of Health Solutions (DCHS) has surveyed a nationally representative sample of US adults (18 and older) about their experiences and attitudes related to their health, health insurance, and health care. To penetrate the market, life insurance companies need to earn- out market segmentation so as to come up with products that would best address the W. (2012) Using the Taguchi method for effective market segmentation, Expert Systems with Applications, 39(5): 5451-5459. Liang Y. H. (2010) Integration of data mining technologies to analyze customer value for the automotive maintenance industry, Expert Systems with Applications, 37(12): 7489-7496. In this study, we used fuzzy clustering on 1071 life insurance customers during March to October 2014. . The global Whole Life Insurance market Growth is anticipated to rise at a considerable rate during the forecast period, between 2020 and 2025. (2013) Mining of Customer data in an Automobile Industry using Clustering Techniques, International Journal of Emerging Technologies in Computational and Applied Sciences (IJETCAS). Detailed and extensive market segments with regional distribution of forecasted revenues, Extensive profiles and recent developments of market players. (2015) Detecting the Migration of Customers of Mobile Services Using Fuzzy Clustering, Information & Managment 52(2): 227-238. and Chou P. H. (2011) Customer segmentation of multiple category data in e-commerce using a soft-clustering approach, Electronic Commerce Research and Applications, 10(3): 331-341. (2005) A web-based system for analyzing the voices of call center customers in the service industry, Expert Systems with Applications, 28(1): 29-41. In recent years, mining has gained attention and popularity in the business world. [18] Bose I. and Chen Xi. RAMANATHAN, K.V. The “ Life Insurance & Annuity Software market”report covers the overview of the market and presents the information on business development, market size, and share scenario. Posted via Industry Today. Thomas B. and Nashipudimath M. (2012) Comparative Analysis Of Fuzzy Clustering Algorithms In Data Mining, International Journal of Advanced Research in Computer Science and Electronics Engineering (IJARCSEE), 1(7): 221-225. The scope of growth of the Global Whole Life Insurance Market during the forecast period is identified after analyzing different data sources. This report also includes detailed and extensive market overview with gap analysis, historical analysis & key analyst insights. Comprehensive research methodology of Global Whole Life Insurance Market. Popular market trends during both the base period and the forecast period have been identified along with the market growth that they can achieve. Connect with us via the social networks Twitter, Facebook, LinkedIn, Google+ and Pinterest, https://www.wiseguyreports.com/sample-request/4096949-global-whole-life-insurance-market-size-status-and-forecast-2019-2025, https://www.wiseguyreports.com/enquiry/4096949-global-whole-life-insurance-market-size-status-and-forecast-2019-2025, https://www.wiseguyreports.com/reports/4096949-global-whole-life-insurance-market-size-status-and-forecast-2019-2025, Transportation & Logistics Industry Today. The data for the forecast period from the year 2020 to the year 2026 is also presented in the report after extensive market research to ensure that the data is accurate. Wu R. Sh. The report on the Universal Life Insurance market provides a bird’s eye view of the current proceeding within the Universal Life Insurance market. [8] Hanafizadeh P. and Rastkhyz Paydar N. (2012) Comparison of two methods of data mining segmentation car insurance customers by risk (Case Study: Insurance Company nations). 17-24, 2015, The Knowledge of Lexical Collocation among University Students and its Relation to their Speaking Proficiency, Segmentation of Life Insurance Customers Based on their Profile Using Fuzzy Clustering, Relationship of Training and Motivation with Teachers’ Performance: A Case of Public and Private Schools of Southren Punjab, Influence of Psychological Empowerment on Organizational Commitment among Medical Employees in a Hospital Setting, The Spatial Distribution of Atmospheric Conditions, Severe Storms Zab Basin in Iran (A Case Study of Cut off Low Synoptic Pattern), Synoptic Pattern of Deep Trough Led to Strong Winds of Zab Basin in Iran, The Effect of Living in the Present Time, Healthy Character Development and Social Character Growth of Staff on their Performance (Case Study: Clinical and Paraclinical Areas of Ahwaz Imam Khomeini Hospital), Effects of Two Methods on Student’s Achievement in Junior Secondary Schools in Yakurr, Cross River State, The (In)Visible Eye of Authority: Notes on Surveillance in Paul Auster’s Ghosts, The Effect of Government Policy on Housing Delivery in Nigeria: A Case Study of Port Harcourt Low Income Housing Programme, Governance of Citizen Participation and its Related Concepts: A Review of Literature, Determinants of Competitiveness in Textile Industry of Pakistan, An Investigation into the Impact of International Trade in the Growth of Nigeria’s Economy, The Use of Fantasy in Doris Lessing’s Selected Fictions, The Impact of Intellectual Capital Performance on the Profitability of Companies: Evidence from Tehran Stock Exchange, Measuring the Productivity of Capital in the Industrial Sector of Sistan and Baloochestan State, Iran, https://doi.org/10.18052/www.scipress.com/ILSHS.61.17, Creative Commons Attribution 4.0 International License, https://doi.org/10.1016/j.eswa.2004.08.008, https://doi.org/10.1016/j.eswa.2014.09.044, https://doi.org/10.1016/j.eswa.2013.05.052, https://doi.org/10.1016/j.eswa.2011.11.040, https://doi.org/10.1016/j.eswa.2010.04.097, https://doi.org/10.1108/ijrdm-01-2013-0012, https://doi.org/10.1016/j.elerap.2010.11.002, https://doi.org/10.1016/j.egypro.2012.02.147, https://doi.org/10.1007/s10916-011-9710-5, Seestrasse 24c, CH-8806 Bach, Switzerland. Some suggestions are presented to improve the performance of the insurance company. life insurance via agents and brokers, who tend to focus on a more affluent audience The company recognized an underserved middle market, broadly defined as 25-45 years old and $150K income or less MetLife developed a new channel – direct to consumer – to serve the middle market [21] customers) into smaller subgroups. The marketing mix of LIC discusses the 4 P's of life insurance corporation of India which is one of the top LIC companies in India.This largest company of insurance is an Indian state owned company and has its headquarters in Mumbai, India.The promotional strategy of LIC- Life Insurance is very simple& straightforward. Follow us on Twitter @IndustryToday The guide also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Lim Ch. In addition, developments by these major developers are also studied and in-depth insights are provided in the report. The data is presented from the year 2020 to the year 2026 for the base period and is predicted for the forecast period from the year 2020 to the year 2026. Non-participating Whole LifeParticipating Whole LifeOther, Market segment by Application, split intoAgencyBrokersBancassuranceDigital & Direct Channels, Global Whole Life Insurance Industry Drivers and Constraints. Pune, India - June 4, 2019 /MarketersMedia/ — Universal Life Insurance Market 2019-2025 Description: - Universal life insurance is a type of cash value life insurance, under the terms of the policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy, which is credited each month with interest. Umamaheswari K. and Janakiraman S. (2014) Role of Data mining in Insurance Industry, COMPUSOFT, An international journal of advanced computer technology, 3(6): 961-966. This work is licensed under a The global life insurance providers market is expected to decline from $1700.8 billion in 2019 to $1612.8 billion in 2020 at a compound annual growth rate (CAGR) of … [14] A holistic approach towards the examination of different plans and policies, and related strategies of all notable players functioning in the Global Whole Life Insurance Market is kept. In the current competitive environment, companies will be able to adjust business strategies, they use market segmentation based on practical ways rather than using traditional approaches or incomplete and impractical mass marketing. Further, the report also takes into account the impact of the novel COVID-19 pandemic on the Universal Life Insurance market and offers a clear assessment of the projected market fluctuations during the forecast period. The Global Whole Life Insurance Industry has been divided into several smaller segments to ensure that the data collected is accurate and free from any errors. The market share that the different regions occupy with respect to the global market during the base period from the year 2020 to the year 2026 has been identified after extensive research and is presented in the report. The data presented in the Global Whole Life Insurance Market report is a compilation of data identified and collected from various sources. 524/528Amanora Chambers Magarpatta Road,HadapsarPune411028+91 8390122541https://www.wiseguyreports.com. The segmentation helps the insurance organization in dividing the market into small segments where the customer needs are identical. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future. This data is collected according to the different regions mentioned in the report that include Asia-Pacific, Europe, North America, South America, the Middle East, and Africa. This identifies and categorizes the data according to five distinct parameters. Life insurance penetration is a mere 0.81 percent of total population of people in Kenya which is quite low compared to other countries where life insurance is taken as a must have item. Global Life Insurance industry guide provides top-line qualitative and quantitative summary information including: market share, market size (value 2011-15, and forecast to 2020). [19] Often, customer segmentation focuses on socio-demographics. The factors and their effects on the market growth during the base period from the year 2020 to the year 2026 has been identified. The dominance of certain marketing strategies of key players are discussed. The research report on Life Insurance Software market largely comprises a detailed segmentation of this business vertical that is anticipated to amass substantial proceeds over the forecast timeline, registering momentous annual growth rate throughout the foreseeable duration. Hong Ch. This is not something that is arbitrarily imposed on society: it is derived from ... from life insurance as product, customer not only buys product but also services in the form of (2012) Research on Data Preprocessing In Credit Card Consuming Behavior Mining, Energy Procedia, 17: 638-643. About UsWise Guy Reports is part of the Wise Guy Consultants Pvt. The market share for each region from the year 2020 to the year 2026 for the forecast period has been mentioned in detail after analyzing the data. [20] The goal of data mining projects is to convert the raw data into useful information. Universal Life Insurance research study is to define market sizes of various segments & countries by past years and to forecast the values by next 5 … [1] One of the major analysis methods used to categorize the data collected is Porter's Five Forces Model. [22] dependants. [9] The key players covered in this studyAllianz, AXA, Generali, Ping An Insurance, China Life Insurance, Prudential PLC, Munich Re, Zurich Insurance, Nippon Life Insurance, Japan Post Holdings, Berkshire Hathaway, Metlife, Manulife Financial, CPIC, Chubb, AIG, Aviva, Allstate, Swiss RE, Prudential Financial, Travelers, AIA, Aflac, Legal & General, Try Free Sample of Global Whole Life Insurance Market @   https://www.wiseguyreports.com/sample-request/4096949-global-whole-life-insurance-market-size-status-and-forecast-2019-2025, Whole Life Insurance Industry Key Players. Creative Commons Attribution 4.0 International License. Wise Guy Research Consultants Pvt. The following table illustrates market segmentation. [16] Global Whole Life Insurance Industry Method of Research. The data presented in the Global Whole Life Insurance Market report identifies different factors that are crucial for market growth during both the forecast and the base period. International Journal of Engineering Research (IJER), 3(3): 177-181. The data that is presented in the report is a vital source of guidance to both companies and individuals interested in the Global Whole Life Insurance Market and provides different information related to the Global Whole Life Insurance Industry. The report also emphasizes on the growth prospects of the global Life Insurance & Annuity Software market for the period 2020-2025. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe. (2013) Soft computing applications in customer segmentation: State-of-art review and critique, Expert Systems with Applications, 40(16): 6491-6507. Enquire on Global Whole Life Insurance Industry Analysis and Forecast (2020-2026) @ https://www.wiseguyreports.com/enquiry/4096949-global-whole-life-insurance-market-size-status-and-forecast-2019-2025, 1 Report Overview2 Global Growth Trends3 Market Share by Key Players4 Breakdown Data by Type and Application5 United States6 Europe7 China8 Japan9 Southeast Asia10 India11 Central & South America12 International Players Profiles13 Market Forecast 2019-202514 Analyst's Viewpoints/Conclusions15 Appendix, For Detailed Reading of Global Whole Life Insurance Market Research Report 2020 @ https://www.wiseguyreports.com/reports/4096949-global-whole-life-insurance-market-size-status-and-forecast-2019-2025, For more information or any query mail at sales@wiseguyreports.com. Tehran, Islamic Republic of Iran Central Insurance, Insurance Institute. Life & Health Insurance Agency Management Software research study is to define market sizes of various segments & countries by past years and … [6] [3] Subscribe to our Newsletter and get informed about new publication regulary and special discounts for subscribers! Posted via Industry Today. Karimi A. yatollah (2012) General insurance (second edition). The predicted market share that the regions may occupy is identified after analyzing the export and import of different products/services in the different regions mentioned above. Life insurance is a contract whereby the insurer, in exchange for a premium, undertakes to pay insured in case of death or life or the end of the insurance capital as a lump sum to beneficiaries or users (Bakhshi 2011). While aspects such as age, location and wealth are critical components in order to understand customer needs, insurers should also differentiate by the stage in the customer journey. Protectors fall in the middle of the three segments when it comes to valuing life insurance, the amount they have, the amount they are willing to spend on it and interest in an agent. [13] [17] Industrial Management Studies, 11(30): 77-97. Global Whole Life Insurance Market Regional Description. Press Release Universal Life Insurance Market 2020 Global Trend, Segmentation and Opportunities Forecast To 2026 Published: Oct. 16, 2020 at 2:24 p.m. Clustering can also be used to explore differences in attitudes and intentions of the clients. Academia.edu is a platform for academics to share research papers. Visit www.industrytoday.co.uk to publish and distribute news from your Industry. Results show that the optimal number of clusters was 2 which were named as "investment" and "life safety". Market Segmentation Life Insurance. In 2018, the global Whole Life Insurance market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of 2.6% during 2019-2025. (2012) A study on policyholder's satisfaction with reference to Life Insurance Corporation of India, Thanjavur division, Doctor of Philosophy in Commerce, Bharathidasan University, Tiruchirappalli. Iyzadparast S. M., Farahi A., Fathnejad F. and Pourteimour B. The importance of key players in the study of Global Whole Life Insurance Market is immense. Indonesia Market Segmentation is the process of dividing a market into direct groups of buyers who might require separate products or marketing mixes. (2011). Understanding the Opportunistic Buyer Segment The opportunistic buyer purchases life insurance because it is offered to them, often through work. Casabayó M., Agell N. and Sánchez-Hernández G. (2015) Improved market segmentation by fuzzifying crisp clusters: A case study of the energy market in Spain". B., L. T. H. and Lee Y. G. (2012) Mining Important Association Rules on Different Customer Potential Value Segments for Life Insurance Database, Granular Computing (GrC), 2012 IEEE International Conference on Granular Computing, 283-288. International Letters of Social and Humanistic Sciences (Volume 61), G. Jandaghi and Z. Moradpour, "Segmentation of Life Insurance Customers Based on their Profile Using Fuzzy Clustering", International Letters of Social and Humanistic Sciences, Vol.

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