CRM: A Differentiating Strategy to Retain Customer in Life Insurance Sector
DOI:
https://doi.org/10.33516/maj.v55i9.35-37pKeywords:
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The purpose of marketing is not to create the customers merely but also to retain them in all industries including life insurance. In India, less than one-fourth of the insurable population has life insurance cover. People buy life insurance primarily for tax saving, investment and risk cover in India. Apart from creating new customer, it is imperative before life insurers to retain the existing customers. In order to do so, customer relationship management (CRM) is used and its importance gets enhanced when it is a service product. Life insurance is a financial service product which is regarded as unsought product in India. Therefore, the present article stresses on significance of CRM and steps involved in life insurance business.Downloads
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Published
2020-09-30
How to Cite
Uddin, F. (2020). CRM: A Differentiating Strategy to Retain Customer in Life Insurance Sector. The Management Accountant Journal, 55(9), 35–37. https://doi.org/10.33516/maj.v55i9.35-37p
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