Customer Relationship Management Of Insurance Company A Shanghai Branch

The insurance industry has been developing rapidly during the recent decades in China.The development of group insurance is still in the early stage respectively but it's growing significantly fast,accompanied by the constantly changing of corporate clients' demands and needs on both product and service of group insurance.Facing with ever-fiercer competition,insurance companies have to protect from numbers of potential problems and risk by the means of finding resolutions of establishing and maintaining long-term relationship with their corporate clients,which will be the key for the long-lasting development of their business.In this paper,the Insurance Company A Shanghai Branch is researched as an example.Based on the PEST model and FIVE-FORCE model,macro-environment and industrial competition are analyzed as the premise.Furthermore,combining the analysis of internal environment of the organization and a number of secondhand researches and surveys that are conducted in the incentive of group insurance and corporate clients,further in-depth study is carried on for seeking the problems,risks and behind causes of customer relationship management of group insurance of Insurance Company A Shanghai Branch.On the strength of before-mentioned studies and present theories,resolutions for innovation and improvement of group insurance customer relationship management are raised in three different dimensionalities – the establishment,maintenance and churn management of customer relationship.The execution plans are designed according to the practical situation following the resolutions given.Studies find that the key challenges that Insurance Company A Shanghai Branch is facing in terms of customer relationship management are its current strategy of customer relationship establishment is too weak to support business development,its performance on customer relationship maintenance is too poor to reach the renew target,and its marketing reputation is affected by a certain of its lost customers.The key reasons caused those problems are the price of customize products deviating from the market level,products and services without differentiation advantage,single cooperation model of distribution channels,low customer satisfaction,low proportion of loyal customers,lacking of management of customer complaints,and lacking of management strategy for lost customers.Aiming at the root causes of these problems,this paper puts forward improvement and optimization schemes one by one.On the establishment of the customer relationship,through the adjustment of the price level and seting up product and service differentiation advantage to improve customer delivered value,and according to different distribution channels,formulate corresponding strategies of cooperation,so as to establish a win-win partnership with intermediary channel to further promote the establishment of terminal customer relationship.In the maintenance of customer relations,customer satisfaction can be improved by improving service projects that cannot meet customer expectations,and customer loyalty plans should be developed to cultivate customer loyalty.In terms of the lost customers,establish the customer complaints management,classification management of lost customers and customers saving strategy to make up the lacking of management in this regard.This studay aims to help Insurance Company A Shanghai Branch with its group insurance customer relationship management which is the key for the whole company's long-term sustainable growth and development.Moreover,its value contains the extendability for group insurance operations for other companies in the industry and may contribute to the long-term healthy and stable development of the industry.