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Effectiveness of Customer Relationship Management Program in Insurance Companies: An Indian Exploration

Effectiveness of Customer Relationship Management Program in Insurance Companies: An Indian Exploration

Vikas Gautam
Copyright: © 2011 |Volume: 2 |Issue: 3 |Pages: 15
ISSN: 1947-9247|EISSN: 1947-9255|EISBN13: 9781613506196|DOI: 10.4018/jcrmm.2011070103
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MLA

Gautam, Vikas. "Effectiveness of Customer Relationship Management Program in Insurance Companies: An Indian Exploration." IJCRMM vol.2, no.3 2011: pp.42-56. http://doi.org/10.4018/jcrmm.2011070103

APA

Gautam, V. (2011). Effectiveness of Customer Relationship Management Program in Insurance Companies: An Indian Exploration. International Journal of Customer Relationship Marketing and Management (IJCRMM), 2(3), 42-56. http://doi.org/10.4018/jcrmm.2011070103

Chicago

Gautam, Vikas. "Effectiveness of Customer Relationship Management Program in Insurance Companies: An Indian Exploration," International Journal of Customer Relationship Marketing and Management (IJCRMM) 2, no.3: 42-56. http://doi.org/10.4018/jcrmm.2011070103

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Abstract

Customer relationship management in the insurance industry is in the nascent stage. Firms are framing new strategies to combat stiff competition. Public and private insurance companies are implementing customer relationship programs to attract more customers and retain existing customers. The objectives of this study are (1) to study the customer relationship management program of the Life Insurance Corporation of India, and (2) to assess the effectiveness of this customer relationship management program. The study is based on the opinion scores of 182 policyholders of Life Insurance Corporation of India, who have been with the company for more than the last five years. Based on the average opinion scores before and after the implementation of the Customer Relationship Management program, it was concluded that the program is effective, which was evidenced by the results obtained from statistical analysis (Paired sample t-test).

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