CRM in life insurance industry: Issues, strategies and innovations

This paper presents a survey on the life insurance industry in India assessing its current status and identifying the novice trends and practices influencing it. With the economy booming and consumerism flourishing, almost all the spheres of human business transactions are transforming their practices and orientation from mere selling concept to marketing concept, insurance industry being no exception to the fact. Today, we are witnessing that the central theme for any business, specially in the service industry like insurance, is only ‘The Customer’, and all the innovations, initiatives and strategies of the companies satellite around this central force. This paper studies in detail these innovations, initiatives and strategies and their relevance in the Life Insurance industry in India.