STUDYING THE INSURANCE COMPANY CUSTOMERS PREFERENCES ON THE BASIS OF THE CONSENT CRITERIA USING CHAID-ANALYSIS
The article considers modern trends in the insurance market development in the Russian Federation, and reviews the main insurance products and the dynamics of their implementation over the past few years. The authors identi- fy the necessity for improving the insurance services quality, active work with consumers, and development of targeted packages of services, corresponding to the specific needs of individual customer segments. Based on the case of regional insurance company operating on the local in- surance market in the city of Novosibirsk, the article analyzes the socio- demographic and economic characteristics and their impact on the probabil- ity of choosing insurance products. Using Pearson's chi-squared test, the au- thors have accomplished statistical review of 30 hypotheses in order to reveal the relationship between the characteristics of consumers and their choice of various insurance products. Using CHAID-analysis, the one of the most popular technologies for data mining, allowed authors to distinguish different homogeneous groups of consumers for each of the insurance products considered. Based on the study, the authors have constructed classification schemes of insurance services consumers. This led to the conclusion that age and marital status are most significant consumer characteristics for the segmentation. On the other hand, the study of the constructed consumer classification schemes shows that such indicators as “children" and "income" practically do not influence the choice of insurance products. Also, a study using CHAID-analysis made it possible to determine which types of insurance services allow the most effective joint combinations. In turn, it allowed to form four specially selected packages consisting of several insur- ance products to maximize the satisfaction of the company's customers.