Customer Retention Strategy Of The Lic Of India In Cuddalore District - A Crm Centric Study

Abstract

The study attempts the strategies to retain the customer in LIC of India Ltd. and to understand the impact of CRM in Customer Retention in LIC of India Ltd. with reference to Cuddalore District. Four hundred (400) respondents have been selected by using of quota sampling technique. The questionnaire was used as a research tool. The Customer retention is an important strategy for insurance companies at the present era of marketing. Customer Retention strategies are grounded on the advantages of long term customers. After preparation of list of the potential customers, the researcher in this paper, discusses the strategy to retain customer in LIC of India Ltd and impact of customer relationship management in customer retention in Cuddalore district. The researcher collected primary data from the LIC policyholders with different occupational status viz., Agriculturist, Businessman, Private employees, Professionals and Government employees.  The data were collected from 400 LIC policyholders by using interview schedule. The collected data were analysed by using percentage analysis and ranking method. The researcher found that customer meet is an important factor to retain customer.