Life insurance, basically a tool against protection of life or against death of individuals or any unforeseen event. It provides financial protection against such kind of risks. For every individual, the purpose of investments in life insurance might differ. According to the survey at present there are 23 private life insurance companies and one public life insurance company in India. Due to this large number of life insurance companies and having wide range of products there arise confusion among the investors as to which product and also of which company to purchase. So in order to form their updated marketing strategies, marketers are interested to know investment pattern of life insurance investors. It is possible to predict which type of customers are interested in certain kind of life insurance product and also developing new products based on company profitability(different products can be developed for different customers and marketing strategy can be made for them) using data mining techniques. Generally the Data mining techniques are used to extract hidden patterns, from large amount of data in the form of data-ware house. In the this research paper emphasis is on investor's investment behavior in life insurance sector of India by using data mining techniques and implement big data with data mining concept. Here we consider two objective i.e., To find the list of potential customers and to find a reference plan in order to develop a new policy product.
Data mining (DM), Big data, CRM
