Machine Learning Algorithms for Customer Segmentation and Personalized Marketing in Life Insurance: A Comprehensive Analysis
Keywords:
Machine Learning, Customer SegmentationAbstract
In a competitive life insurance industry, innovative methods are needed to attract and keep customers. Consumer segmentation, targeted marketing, and engagement are needed for success. Machine Learning (ML) aids these goals. A research on life insurance customer segmentation and personalized marketing using ML algorithms. The emphasis is on how these algorithms might improve customer engagement and sales.
Classic life insurance marketing targeted broad audiences with simple products. This strategy disregards potential customers' needs and risks. Big data and analytics have changed marketing across industries. Life insurers use ML algorithms to understand customers and customize services.
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