CRM IN INSURANCE: THE NEW WAY by Prakash Chandra Joshi
By: Global Vision Publishing HouseSingle Issue
Single Issue
- CRM IN INSURANCE: THE NEW WAY by Prakash Chandra Joshi
- Price : 200.00
- Published on June 1, 2013
- Global Vision Publishing House
- Language - English
- Published na
About this issue
In today’s dynamic world, the importance of good customer service is becoming more and more apparent. With the integration of various services like banking, broking and insurance, coupled with industry consolidations, demutualisation, shrinking margins, profitability pressures, and new distribution channels, the insurance companies are being forced to rethink their business models for survival. Customer Relationship Management is revolutionizing the financial services industry. CRM is the most valuable tool to identify profitable customers and strengthen relationships with them. Selling policies to new customers, through important usually isn’t as cost-effective as keeping existing customers. Where a profitable relationship already exists, CRM can especially boost superior service at a lower cost Successful. CRM should give insurers the ability to measure customer value, and improve the customer’s service perceptions while reducing servicing costs. Ideally, smart CRM solutions should automatically make intuitive insurance connections and allow non-intuitive but relevant insured connections to be created. CRM can help or hurt the risk management process depending on how effectively it is managed.
About CRM IN INSURANCE: THE NEW WAY by Prakash Chandra Joshi
Global Journal of Business Management Vol. 2 No. 2, December 2008