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Abrol, Deepti
- Assessing the Impact of Customer Relationship Management Practices on Customer Loyalty in Insurance Sector
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Authors
Affiliations
1 Department of Commerce, University of Jammu, Jammu & Kashmir, IN
1 Department of Commerce, University of Jammu, Jammu & Kashmir, IN
Source
International Journal on Customer Relations, Vol 4, No 2 (2016), Pagination: 19-24Abstract
Insurance sector in India seems to be dynamic in nature. During past few decades, there was a revolutionary change witnessing segments of speedy growth but in the current scenario, insurance industry in India is serving with a number of new national and international players facing escalating antagonism which leads to sluggish growth, increasing cost, etc. To continue its existence in a competitive business situation and achieve advantageous growth for long term sustainability, insurance industry needs to focus on building and maintaining good relationships with their esteemed customers. The main objective of this research paper is to assess the impact of various Customer Relationship Management (CRM) practices on customer loyalty in insurance sector. The responses of 224 customers from four public general insurance companies operating in Jammu district of J&K state are considered for this study. Based on the findings of the empirical investigation using statistical tools namely, exploratory factor analysis, confirmatory factor analysis, and structural equation modeling, the study has revealed that there is a significant and positive impact of CRM practices on customer loyalty. Further, all the dimensions of CRM significantly affects customer loyalty. Only four CRM practices were considered in the present study so the future research should focus on rest of the practices. This paper encourages managers of insurance companies to focus their attention on customer redressal machinery in order to ensure long term relationship with their customers.Keywords
CRM, Customer Loyalty, Conflict Handling, Communication.
- Exploring the Factors Affecting the Successful Implementation of Customer Relationship Management in Insurance Sector
Abstract Views :248 |
PDF Views:0
Authors
Affiliations
1 N. L. Dalmia Institute of Management Studies and Research, Mumbai, Maharashtra, IN
1 N. L. Dalmia Institute of Management Studies and Research, Mumbai, Maharashtra, IN
Source
International Journal on Customer Relations, Vol 5, No 1 (2017), Pagination: 37-44Abstract
The present paper focuses on exploring the factors affecting the successful implementation of Customer Relationship Management (CRM) in General Insurance Sector of Jammu city of J&K State. Purposive judgement sampling technique was used to collect the primary data. Four General Insurance Companies with 333 employees operating in Jammu city were contacted, out of which 305 employees responded. Exploratory factor analysis, confirmatory factor analyses and structural equation modeling was used to test the hypotheses. Results showed that customer satisfaction, trust, service quality, communication & knowledgeability significantly and positively influence the effective implementation of Customer Relationship Management. The limitations of the study and suggestions for future research studies are also discussed in the present research paper.Keywords
CRM, Customer Satisfaction, Service Quality, Trust, Communication.References
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