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Application of Data Mining and CRM in Banking Sector Medical Insurance

Pratik Biswas, ParthaSarathi Bishnu

A disease or an accident requiring hospitalization is not just a major threat to one’s health but to our savings as well. Health insurance requirement differs from person to person. This is why there are as many plans as consumers can avail. Proper health insurance plan not only helps us to meet such a crisis situation with ease, at the same time saves huge expenses. Since last few years, different banks (both nationalized and private) are offering different insurance policies to their customers. Medical insurance is one such health insurance policy. As there are a large number of policies dealt by a large number of people, there has to be some technique which can provide better understanding between the banks and their customers. In this paper we made an attempt to improve the relationship between bank and it’s customers by using data mining technique along with customer relationship management (CRM).