1. SREENIVASA INSTITUTE OF
TECHNOLOGY & MANAGEMENT
STUDIES
A study on Customer Relation Management in
National Insurance Company Ltd
Under the guidance of:
Dr. S.E.V. Subrahmanyam, M.B.A. Ph.D.,
Professor,
Dept. of M.B.A.,
SITAMS.
Presented by:
M. Chaitanya,
II M.B.A. ‘B’ Sec,
Roll no:15751E0080.
Project Review I
2. 1.Introduction
Customer Relationship Management (CRM)
encompasses activities and processes intended to help an
organisation understand, communicate with, and service
the needs of, customers and prospects.
CRM helps a business understand who their customers
are, how they like to interact with the company, how
profitable they are, and what their future value might be.
3. 2.Industry profile
The insurance sector in India governed by insurance
Act 1938 the life insurance corporation Act 1956 and
general insurance business nationalization Act, 1972
insurance regulatory and development authority IRDA
Act.
Together with banking services it adds about 7 per
cent to the country’s GDP.
Nearly 80% of India populations are the insurance
sector is immense cover and the health insurance.
4. Insurance has technical aspects as well as social
attitudes. It has relevance with mathematics, mortality,
probability, longetivity, psychology, risk evaluation,
monitoring, accountancy, medical science, etc.
The Insurance Industry of India consists of 52 Insurance
companies of which 24 are in life insurance business and
28 are non-life insurers.
5. Company profile
National insurance company limited
Founded : 1906 (nationalized in 1972)
Head quarters : Kolkata , West Bengal .
Chairman : K. Santh Kumar
Total employees : 16000
6. Types of insurance
Personal Insurance policies include medical insurance,
accident, property and auto insurance coverage
Rural Insurance policies provide protection against natural
and climatic disasters for agriculture and rural businesses
Industrial Insurance policies provide coverage for project,
construction, contracts, fire, equipment loss, theft, etc.
7. Review of literature
Operational CRM :
Supports front office processes,
Analytical CRM :
Establishes information on customer segments, behaviour
and value using statistical methods.
Collaborative CRM :
Concentrates on customer integration using a coordinated
mix of interaction channels.
8. Research methodology
Research : Research is the process of systematic
and in depth study
Research design : It is a blue print of research
Sources of data : 1.Primary data
2.Secondary data
9. Statement of the problem
Difficulty in building customer relationship has created
low confidence and trust in the insurance market today.
Disparities in the quality of services rendered to various
segments of clients in the various branches.
Front-line service relation officers exceeding the
Insurance stipulated turnaround time.
10. Need for the study
The study of customer Relationship Management for any
product is of vital importance to marketers in shaping the
fortunes of their organizations.
It is significant for regulating consumption of goods and
there by maintaining economic stability.
11. Objectives of the study
To study the simplify Marketing and sales process.
To study the make call centres more efficient.
To study the provide better customer service.
To study the discover new customer and increase
customer revenue.
12. Scope of the study
Build long term and profitable relationship with
chosen customers
Getting closer to the customers at every point of
contact with them
By fostering customer’s Loyalty the company spends
less time acquiring new customers and saves then time
on other projects.
13. Limitations of the study
The time constraint is unavoidable limitation of the
study
As no work has been done earlier in this regard so
scarcity of secondary data is also there.
Requires integration with a company’s other
information systems which is costly
Limited time was given for data collection.
