A Study on Customer Relationship Management in Insurance Sector
Journal Title: International Journal for Research in Applied Science and Engineering Technology (IJRASET) - Year 2016, Vol 4, Issue 11
Abstract
The behaviors of the customers in the services sector have been changing drastically during the last several years. The reason is all services firms have improved their existing mechanisms and come up with innovative ideas to attract the new clientele and gain the customer loyalty. Therefore, like banking and telecom industry, insurance industry need to study their customers and their changing behaviors. The very nature of the insurance business necessitates knowing health histories, life histories, beneficiary information and more about the demographic profile of the prospective customers. In the postliberalization of insurance market in India; one factor that contributes to the overall performance of insurance players is Customer Relationship Management (CRM). Due to the increase in number of insurance players and rising awareness among customers about different products, companies in the insurance sector realize the importance of CRM. CRM allows insurance companies to enable the marketing departments to identify and target their best customers, manage marketing campaigns with clear goals and objectives, and generate quality leads for the sales team. In this paper, author attempts to analyze the perceptions of customers and employees of insurance companies and their CRM practices and also the study includes understanding how well do they manage their Customer Relationships and to study how empowered are the employees of the organization to deliver superior service. The data collected for the study is purely on secondary basis collected from various textbooks, journals like IRDAI journal, visited libraries for gathering data.
Authors and Affiliations
Dr. B. Sudheshna, Prof. B. Sudhir
Keywords
Related Articles
- EP ID EP22806
- DOI -
- Views 260
- Downloads 6
Business Tax Fraud Detection in Big Data
There is evidence that an increasing number of enterprises plot together to evade tax in an unperceived way. At the same time, the taxation information related data is a classic kind of big data. The issues challenge th...
Evaluating the Effect of Modified Bitumen after Short-Term Aging using FTIR Spectroscopy & SEM
In the developing country like India, growth of urbanization is a vital process ultimately leads to the vehicle growth and thus the load on the pavement increases which leads to distress of the pavement. Major problem i...
Topological Optimization Of An L-shaped Bracket Subjected to Different Loading Conditions
Topology optimization is an very powerful tool in many areas of design such as optics, electronics and structural mechanics. The field materialized from structural design and so topology optimization applied in this con...
FPGA Implementation of Xor Gate Using Neural Network
In this paper, the XOR gate neural network is implemented on Field Programmable Gate Arrays (FPGA) . Firstly, one MAC (Multiply and accumulate) unit and a binary step activation function is developed in VHDL. These are...
Analysis of Land Use Spatial Patterns in Coastal Andhra Region Using Remote Sensing, GIS and Computational Techniques
It is well known fact that urbanization is a prime aim of all the developing cities of India, Since 2010, infrastructure development has been the utmost priority of Indian government. This urbanization of cities, villag...