APPLICATION OF E-CRM STRATEGIES FOR MAKING LIFE INSURANCE BUSINESS SUCCESSFUL IN GLOBAL ERA

Abstract

Life Insurance is the traditional investment pattern. It is the part of service marketing. In present scenario there is cut throught competition arises in life insurance business till the year 2000, LIC of India having monopoly on Life insurance business so there business was run smoothly without competition but after year 2000 private players entered into life insurance business and after that cut throught competition arises in life insurance market. In modern era, to capture new customer and to retain old customer is the challenging task for every life insurance business. If Life Insurance Company provide best services to their consumers, maintain life long relationship with them and fulfill financial needs and requirements then only consumers may be satisfied and they become loyal consumers. If they are loyal then they will be easily retain. Hence, we can say that, Consumer Relationship Management is the key for making life insurance successful.