By

MR. PRATIK DWIVEDI

Assistant Professor, IIMT College of Management, Greater
Noida
MRS. ARCHANA KAUSHIK
Assistant Professor, IIMT College of Management, Greater Noida
 INTRODUCTION
CRM : A Novel way to beat the odds
Customer Relationship Management (CRM) is a
combination of Strategies and that drives relationship
programs reproducing the entire organization to focus
on customers that satisfy.

In other words it is a systematic approach to serve

customers in such a way that customer retention and
profitability are insured in marketing.
OBJECTIVES OF THE STUDY
 To study the perceptions of customers and
employees of insurance companies and their CRM
practices.
 To study how empowered are the employees of the
organization to deliver superior service.
 To study the customer knowledge strategy adopted.
SOURCES OF DATA
 Secondary data comprised of existing published and
unpublished literature.
 Previous research in the field of the present study.
 Research journals, trade magazines and publications
insurance industry.
CRM a valuable corporate asset

Today CRM is recognized as a valuable asset.

"The process of CRM in insurance, which involves three
steps:
a) identifying the most potential customers
b) understanding the needs and buying patterns of the
customers.
c) interacting with the customers to meet their
expectations.
is elaborated. "
CRM SYSTEM
 CRM (Customer Relationship
Management)
 CRM is not just a time response but also a time
requirement.
 Today's insurance industries are required to operate in
and out of customer -defined business environment.
They are unsure whether their client will be with them
tomorrow.
BENEFITS OF CRM - INSURANCE INDUSTRY
 CONCLUSION
 Paper explores the role and relevance of CRM in creating
sustainable relationships.
 Insurance companies are investing a considerable amount
on CRM software and services to provide individual
attention to the customers.
 Paper analyses the need of the hour is to understand what
customer really wants instead of investing blindly huge
amounts in attaining what the company feels about the
customer wants.
REFERENCES
 Accenture Consulting (2002), “The Road to CRM Riches”, www.accenture.com;
 Anderson, E.W., Fornell, C. & Lehmann, D.R. (1994) “Customer Satisfaction, Market Share &
Profitability: Findings From Sweden”, Journal of Marketing (58), July 1994.
 Beckett, Camarata, E.J., Camarata, M.R. (1998), “Integrating Internal and External Customer
Relationships through Relationship Management: A Strategic Response to a Changing Global
Environment”, Journal of Business Research.
 Flanagan, T. & Safdie (2002), E., “Building a Successful CRM Environment”,
http://www.techguide.com.
 Kalakota, R. & Robinson, M. (1999), “Customer Relationship Management: Integrating
Processes to Build Relationships”, E-Business, Addison-Wesley: London.
 Kos, A.J., Sockel, H.M & Falk, L.K., “Customer relationship management opportunities”, The
Ohio CPA Journal, January-March 2001.
 Lee, S and Shu, W. (2001), “An integrative and complimentary based model for the design and
adoption of customer relationship management technologies”, Seventh Americas conference on
Information Systems.
 Leverick, F., Littler, D., Bruce, M & Wilson, D. (1998), “Using Information Technology
Effectively: a study of marketing institutions”, Journal of Marketing Management.
 Lin, T.W., and Shao, B.M. (1999). “The relationship between user participation and system
success: a simultaneous contingency approach”. Information and Management.
 Davenport, T.H. (1993), Process Innovation, Harvard Business School Press, Boston, MA.
 Insurance Regulatory and Development Authority (IRDA)