A Number Of Issues In The Pacific Life Customer Relationship Management Research

As is drawing near the full opening of China's insurance market prescribed in the WTO Treaties, the country's insurance market is in ever-increasing heated competition. It is a vital issue of common concern in China's insurance to find measures against such heated competition among domestic and overseas trans-national insurance companies. The Customer Relationship Management (CRM for short) is conceived as a core concept effective to upgrade competitiveness of modern businesses, and has become an essential tool for the insurance company to build up its strength and competitive advantage.Taking the China Pacific Life Insurance Company (CPIC for short) as a material for case study, this paper introduces the basic CRM concepts, its definition and functional modules. Furthermore it analyzes the competition and market situation of CPIC and demonstrates advantages of CRM applicable to CPIC. After examining the CPIC's demand for CRM functions, as well as CPIC's current management limitations and subsequent impact over CRM practice, the author proposes corresponding solutions to help accelerate CPIC development and competitiveness.On the basis of CPIC business and operation situation today, the author examines restrictions, problems incurred from CPIC's old managing systems, such as its call center, business procedures, organization, human resources, and enterprise culture. By analyzing relevant reasons for those problems, the author proposes corresponding solutions by way of integrating theories (e.g., competition theory) with practices. Upon examining the current situation of the insurance industry, the author proposes studying CRM-related theories, such as organization behavioral studies, theories of human resource management and ERP theories, before coming up with effective solutions. It is expected that this paper is of positive significance in promoting fine development for relations between CPIC and its customers.