Characterization of consumers’ behavior in medical insurance market with agent parameters’ Estimation process using Bayesian network

Ren Suzuki, Yoko Ishino, Shingo Takahashi

    Research output: Chapter in Book/Report/Conference proceedingConference contribution

    Abstract

    In medical insurance market as well as other markets, it is not straightforward for an institution to develop effective marketing strategies because consumers’ preferences and the environment surrounding consumers are constantly changing. This paper develops an agent-based model (ABM) of consumer’s behavior in purchasing medical insurance products and analyzes the characterization of consumers’ behavior to establish effective marketing strategies for the products. In general, the information propagation model of purchasing behavior has difficulty estimating the values of parameters only from ordinary marketing surveys, especially in the case of products that require a person to conduct advanced information processing, such as an insurance policy. To tackle this problem, this paper developed a method of estimating the probability parameters of agent’s behavior using Bayesian network based on questionnaire survey data, and then evaluated the effectiveness of the method by applying it to the actual insurance market. In the analysis using ABM constructed, we mainly focus on the power of influence of the sales activity using word-of-mouth communication between consumers. As the result we obtained several key findings regarding marketing strategies that can be utilized in the real marketing of insurance products.

    Original languageEnglish
    Title of host publicationNew Frontiers in Artificial Intelligence - JSAI-isAI Workshops, JURISIN, SKL, AI-Biz, LENLS, AAA, SCIDOCA, kNeXI, Revised Selected Papers
    PublisherSpringer-Verlag
    Pages112-128
    Number of pages17
    ISBN (Print)9783319937939
    DOIs
    Publication statusPublished - 2018 Jan 1
    Event9th JSAI International Symposium on Artificial Intelligence, JSAI-isAI 2017 - Tsukuba, Japan
    Duration: 2017 Nov 132017 Nov 15

    Publication series

    NameLecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
    Volume10838 LNAI
    ISSN (Print)0302-9743
    ISSN (Electronic)1611-3349

    Other

    Other9th JSAI International Symposium on Artificial Intelligence, JSAI-isAI 2017
    CountryJapan
    CityTsukuba
    Period17/11/1317/11/15

    Fingerprint

    Consumer Behaviour
    Consumer behavior
    Insurance
    Bayesian networks
    Bayesian Networks
    Parameter estimation
    Parameter Estimation
    Marketing
    Purchasing
    Agent-based Model
    Survey Data
    Information Processing
    Questionnaire
    Sales
    Person
    Market
    Propagation
    Communication
    Strategy

    Keywords

    • Agent-Based Social Simulation
    • Bayesian network
    • Medical insurance market

    ASJC Scopus subject areas

    • Theoretical Computer Science
    • Computer Science(all)

    Cite this

    Suzuki, R., Ishino, Y., & Takahashi, S. (2018). Characterization of consumers’ behavior in medical insurance market with agent parameters’ Estimation process using Bayesian network. In New Frontiers in Artificial Intelligence - JSAI-isAI Workshops, JURISIN, SKL, AI-Biz, LENLS, AAA, SCIDOCA, kNeXI, Revised Selected Papers (pp. 112-128). (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); Vol. 10838 LNAI). Springer-Verlag. https://doi.org/10.1007/978-3-319-93794-6_8

    Characterization of consumers’ behavior in medical insurance market with agent parameters’ Estimation process using Bayesian network. / Suzuki, Ren; Ishino, Yoko; Takahashi, Shingo.

    New Frontiers in Artificial Intelligence - JSAI-isAI Workshops, JURISIN, SKL, AI-Biz, LENLS, AAA, SCIDOCA, kNeXI, Revised Selected Papers. Springer-Verlag, 2018. p. 112-128 (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); Vol. 10838 LNAI).

    Research output: Chapter in Book/Report/Conference proceedingConference contribution

    Suzuki, R, Ishino, Y & Takahashi, S 2018, Characterization of consumers’ behavior in medical insurance market with agent parameters’ Estimation process using Bayesian network. in New Frontiers in Artificial Intelligence - JSAI-isAI Workshops, JURISIN, SKL, AI-Biz, LENLS, AAA, SCIDOCA, kNeXI, Revised Selected Papers. Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics), vol. 10838 LNAI, Springer-Verlag, pp. 112-128, 9th JSAI International Symposium on Artificial Intelligence, JSAI-isAI 2017, Tsukuba, Japan, 17/11/13. https://doi.org/10.1007/978-3-319-93794-6_8
    Suzuki R, Ishino Y, Takahashi S. Characterization of consumers’ behavior in medical insurance market with agent parameters’ Estimation process using Bayesian network. In New Frontiers in Artificial Intelligence - JSAI-isAI Workshops, JURISIN, SKL, AI-Biz, LENLS, AAA, SCIDOCA, kNeXI, Revised Selected Papers. Springer-Verlag. 2018. p. 112-128. (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)). https://doi.org/10.1007/978-3-319-93794-6_8
    Suzuki, Ren ; Ishino, Yoko ; Takahashi, Shingo. / Characterization of consumers’ behavior in medical insurance market with agent parameters’ Estimation process using Bayesian network. New Frontiers in Artificial Intelligence - JSAI-isAI Workshops, JURISIN, SKL, AI-Biz, LENLS, AAA, SCIDOCA, kNeXI, Revised Selected Papers. Springer-Verlag, 2018. pp. 112-128 (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)).
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