A Study of Changing Trends in E-CRM of Indian Insurance Industry

The biggest management challenge in the new millennium of liberalization and globalization for a business is to serve and maintain good relations with the king-The Customer. The process of developing a cooperative and collaborative relationship between the buyers and sellers is called Customer Relationship Management shortly called CRM. Ideally, CRM allows an organization to tailor its products and services to each customer¿s preferences. CRM ¿may be used to create a personalized, one-to-one experience that will give the individual customer a sense of being cared for, thus opening up new marketing opportunities based on the preferences and history of the customer¿. Croteau and Li point out ¿CRM is a customer-focused business strategy that aims to increase customer satisfaction and customer loyalty by offering a more responsive and customized service to each customer¿.