e-CRM – Data Modeling Using Adaptive Neuro Fuzzy model

Abstract

With customer increasingly demanding full-scale solutions, insurance companies like any other service industries are more and more forced to continuously increase their portfolio and services. This paper presents a cross-disciplinary conceptual framework for understanding electronic commerce. The definition of electronic commerce for this paper is commerce that directly utilizes combinations of computing and communications technologies in some or all aspects of the interactions between a business and its customers. Building and maintaining customer loyalty are important issues in electronic business. Customer loyalty and customer equity can be improved by providing customer services, sharing cost benefits with online customers, and rewarding the most valued customers. ‘Personalization’, which was earlier recognized as the 5th ‘P’ of e-marketing, is now becoming a strategic success factor in the present customer-centric e-business environment. As customer also expects high quality and variety of services when needed, insurance companies have to find ways to present the right service at the right moment and with the right quality. This paper presents a framework, showing a possibility to personalize e-business processes by adapting the interactive system to customer preferences. The research has empirically tested the critical factors that influence an individual’s decision when buying products or services online. The proposed model applies Adaptive Neuro-Fuzzy model to converging business processes to get the desired results based on the gaps found in the literature. The system is adaptive as it uses a neural network learning ability for its adaptation.