A Study on Customer Relationship Management – with Special Reference to Life Insurance Corporation of India, Chamarajanagara

Abstract

Relationship advertising is the technique of constructing long term collectively beneficial courting with customers the monetary institutions inside the advanced international locations are the use of this market device very efficaciously by using taking full gain of facts and communication technologies. The LIC in India are under excessive pressure in nowadays volatile marketplace place, steep competitions, globalization, growing consumer demands are forcing the LIC discover new approaches of enhancing profitability. The coverage sectors are seeking out new approaches no longer most effective to attract but additionally to retain the customer and given competitive advantages over their competitors each coverage enterprise like different enterprise corporation is deploying progressive sales strategies and superior advertising tools to gain supremacy. Therefore a examine on the CRM practices in the insurance enterprise is needed to discover the blessings of the CRM practices within the insurance industries. The end result of the examine finish that respondents are glad with communication with clients however now not fully glad with submit sale carrier and criticism handling and also respondents are specific that CRM is delivery of high best service, and co-ordinate errors to fulfill the customer wishes and employees understand the CRM approach thorough training. These have a look at spotlight the want of Improve pleasure degree of the policyholders in through deliver a quick response and modern services and also look at explicit that organizations are Solving the troubles of the policyholders through the clearing the doubts of the coverage details, giving advice at the time of facing the problems.