Evaluating customer acquisition patterns of Internet insurance products based on HMM

• 1、College of Management and Economics,Tianjin University,Tianjin 300072

Abstract：Traditionally, relationship marketing has focused on the interaction between business and consumers. But in relationship marketing, you can\'t ignore another type of interaction: the interaction between consumers and products. Based on the interaction between consumers and products, this paper studies the general acquisition patterns of consumers\' Internet insurance products. This paper obtains longitudinal data of 5,860 customers in 21 months from an Internet property insurance company in China, including demographic information and purchase information, and analyzes the acquisition mode of Internet insurance products based on Hidden Markov Model (HMM). Hidden Markov models are capable of generating potential categories, representing each customer\'s product portfolio, and showing the relationship between potential categories and customer demographics. In addition, the method is no longer limited to the impact of specific time points and specific observations, and can provide insight into the transition between potential categories, reflecting the development of the customer\'s product portfolio over time.

Keywords： relationship marketing internet insurance hidden markov model acquisition patterns