Research On Customer Relationship Management For Renewal Premiums Of Life Insurance

Thinking on customer value has evolved from focusing initially on the customer onetime value to focusing on the customer life value now. Currrent customer retention repeat and reference have become the goal which all sorts of profit-oriented enterprises are trying greatly to gain. Customer Relationship Management (CRM) aims at that excavate customer need and match with suitable resources, establish and sustain enhancing satisfaction to fulfill the customer loyalty and the long-term profit maximization of customer and insurance company together.After 20' years super-speed development, the Chinese insurance industry is facing the great challenge: one hand, life insurance market is lacking in development in the meantime competing vigorous; another hand, the trust crisis of all the society to the life insurance industry is enlarging gradually. Therefore it is the fundamental for the insurers living and developing in future to operate CRM to build up the close customer relationship. The renewal premiums and service reflect the customer satisfaction, influence directly the company performance. So it is the emphasis of CRM operation in the life insurance company.In this paper, through the research of CRM theory, we subdivided the customer scope into three parts: external customer internal customer and who possess the trait of external customer and internal customer. We think it is the essential for customer satisfaction to meet the various need of various customers, which should be superior customer expectation. Internal customer satisfaction is the primary to another two kinds of customer satisfaction. Customer satisfaction could be built up by integrating the following five facets: the core production or service the service and backing system the technology performance the reaction each other and the customer feeling. Between the company and customers there are four kinds of relationship: intimate relationship face to face relationship distant relationship and less-contact relationship. The closes customer relationship is the same as the intimate relationship that reflect obviously the feeling trait. That the Chinese culture background could influence the relationship should be considered. In the CRM operation a service quality evaluation system will be built up to find the defect to overcome.In this paper, we expatiate the domestic and international research present condition of CRM on renewal premiums. Then for the example the structure andoperation of renewal premiums system of PingAn life insurance company, we analyst the obstacle which abstruse the building of closes customer relationship are company service-oriented insurance policy quality and the renewal premiums collecting system, etc. And we point out the key question is that competitive strategy is not the customer-oriented. According to the experiences of international life insurance industry, we think that in the renewal term life insurance company should start at once from the following eight comments to build up the closes relationship: industry supervision employee cultivation organization efficiency performance evaluation service-oriented customer need technology apply and consistence service.