Auto-Hull Insurance Market Segmentation In One Of The Biggest Insurance Company In Iran

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NIAKAN LAHIJI NAZILA; Haghighinasab Manijeh

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

Journal Paper

Paper Information

Journal: IRANIAN JOURNAL OF INSURANCE RESEARCH (SANAAT-E-BIMEH) Year:2020 | Volume:35 | Issue:3 Page(s): 93-123

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Title

Auto-Hull Insurance Market Segmentation In One Of The Biggest Insurance Company In Iran

Author(s)

NIAKAN LAHIJI NAZILA | Haghighinasab Manijeh | Issue Writer Certificate

Keywords

Auto-Hull InsuranceQ1

Market SegmentationQ2

ClusteringQ1

Abstract

Objective: Market Segmentation in the marketing management process, affects market mix including product, price, distribution and advertising. Proper implementation of this process will help the marketers understand customers well and as a result, meet their needs through desining a better marketing mix. the purpose of this paper is the segmentation of Auto-Hull Insurance in Iran’ s insurance industry. Research method: This applied research is conducted using quantitative data gathered from library and the databases. The statistical population of this research was customers of Auto-Hull Insurance of one of the biggest insurance Company in Iran with 20, 000 customers. Sample size of this research was 972 and sampling method was snowball sampling. The variables of age and value of the car, number of cylinders, usage, method of premium payment, history of previous damages and duration of the insurance policy was used to segment the market. Findings and Conclusion: Data was analyzed by two-stage cluster analysis and four segments were identified. The insurance company should consider cluster one as the market target, which is the largest cluster available and according to its characteristics, they use cars for office and corporate affairs. Hence, this company should use B2B strategies. Strategies such as selling this type of insurance along with other insurance policies to the company, considering special facilities and discounts or direct sale can be used to attract customers of this segment.

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APA: Copy

NIAKAN LAHIJI, NAZILA, & Haghighinasab, Manijeh. (2020). Auto-Hull Insurance Market Segmentation In One Of The Biggest Insurance Company In Iran. IRANIAN JOURNAL OF INSURANCE RESEARCH (SANAAT-E-BIMEH), 35(3 ), 93-123. SID. https://sid.ir/paper/380687/en

Vancouver: Copy

NIAKAN LAHIJI NAZILA, Haghighinasab Manijeh. Auto-Hull Insurance Market Segmentation In One Of The Biggest Insurance Company In Iran. IRANIAN JOURNAL OF INSURANCE RESEARCH (SANAAT-E-BIMEH)[Internet]. 2020;35(3 ):93-123. Available from: https://sid.ir/paper/380687/en

IEEE: Copy

NAZILA NIAKAN LAHIJI, and Manijeh Haghighinasab, “Auto-Hull Insurance Market Segmentation In One Of The Biggest Insurance Company In Iran,” IRANIAN JOURNAL OF INSURANCE RESEARCH (SANAAT-E-BIMEH), vol. 35, no. 3 , pp. 93–123, 2020, [Online]. Available: https://sid.ir/paper/380687/en

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