1P.G. Courses PNC& KR College of P.G. Courses Narasaraopet-522601, Guntur District, A. P.
2School of Management Studies Jawaharlal Nehru Technological University, Kaklnada-533003
3Jawaharlal Nehru Technological University-Kakinada Udivada-521301, Krishna District, A.P.
Insurance companies are undergoing a significant cliange and today's playing field is both complex and competitive. Competition has increased with banks and brokers adding insurance products to their product mix and insurers are now offering broader financial service products. The internet has added and increased pressure to margins by enabling customers to do their own comparison shopping. Capturing and sustaining market advantage in this fiercely competitive industry hinges on the ability to understand and leverage the industry's most valuable asset - the customers. This customer-centric approach which vies for customer loyalty and satisfaction can be successful only when supported by an enterprise-wide customer relationship management (CRM) strategy. The present paper focuses on the application of CRf\A tools and techniques by the insurance companies for gaining strategic advantage over its rivals. The arguments are tested with case studies of two insurance companies in India and abroad.
