Authors : Mastooreh Moeini and Sasan H. Alizadeh
Abstract: The purpose of this study is to provide a model for clustering insurance customers so that we can found any uncertainties and risks regarding customer classes, as well as influential variables in their behavior. In this regard, information related to the car insurance in Alborz Insurance Company has been collected from 2009-2013. At the first we have studied and preprocessed data and then used RFM technique and two ARFM and SRFMA approaches as well as studying the risk of customers that is due to the compensation, using k and fuzzy k-means clustering methods, customer loyalty has been reviewed. Next, we studied RFM techniques and proposed approaches as well as risk of customers in combination with each other. Numerical results affirm the superiority of fuzzy based approaches which outperforms traditional ones in term of the accuracy measures. Considering risk factor as an addition to proposed RFM scheme, the measure was enhanced and increased by 8.41%.
Mastooreh Moeini and Sasan H. Alizadeh, 2016. Proposing a New Model for Determining the Customer Value Using RFM Model and its Developments (Case Study on the Alborz Insurance Company). Journal of Engineering and Applied Sciences, 11: 828-836.