Relationship management in the insurance industry

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The Insurance Industry as a financial service sector is one of the importantsegments in an economy for its growth and development. A number of insurers arecompeting and offering customers an excess of products. To survive competition, insurance companies need to upgrade their quality, transparency and integrity to acquireand retain customers. They need a set of offers and the value proposition to be deliveredto the target potential customers, which needs a thorough market research to understandthe needs of the customers and accordingly launching the products to match withcustomer's expectation. The challenge for the players is to establish a long-termreputation and serve the customers in a sophisticated way by introducing innovativeofferings.