Investigation of Customer Relationship Management in Indian Insurance Sector: A Comparative Study of Bajaj Allianz and Birla Sun Life
- Country : India
- Subject : Commerce
Keywords : Bajaj Allianz, Birla Sun Life, t-test, CRM and customers
Abstract
Insurance industry is a highly flourishing, lucrative and competitive market. Rapid changes in information and communication technologies provide greater opportunities for the insurance companies to establish, nurture, and sustain long term relationships with their customers. To sustain in such a market, the insurance companies are using Customer Relationship Management (CRM) to help boost sales and revenues by focusing on customer retention and customer loyalty. The present research was undertaken to study the Customer Relationship Management (CRM) practices in two insurance companies namely Bajaj industry. For the purpose of the study, a sample of 152 customers from Bajaj Allianz and Birla Sun Life has been selected for the study. Data have been collected through personal interview and questionnaires designed on a five point Likert scale. Independent sample t-test has been used as the statistical tool to measure the variation in CRM on the variables namely empathy, responsiveness, reliability, assurance, and customer relations. The analysis of the data revealed that significant variation exists in CRM on the perception of customers in Bajaj Allianz and Birla Sun Life.
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