This research seeks to establish a valuable relationship marketing approach with long-term customers of a life insurance company.
Insurance industry finds itself to be a “boring” industry, with boundary customer engagement as customers show no interest on them. However, Life Insurance is based on long-term cooperation, therefore a long-term relationship with customers need to be developed and maintained.
Increased competition resulted to improved relationship marketing strategies among Life Insurance Companies. Companies need to create and maintain customer loyalty to gain sustainable competitive advantage as in nowadays people have multiple choices when it comes to life insurance; programs, support, Insurance Advisors etc.
This project aims to find the method that will help Life Insurance Company to strengthen relationship marketing strategies with long-term customers, having rich and meaningful customer experience.
The research of the Literature Review will emphasize on the relationship marketing strategies that Life Insurance Companies across the world are using.
Research Objectives are to find out how relationship marketing strategies contributes to maintain long-term customers in Life Insurance Companies. An investigation will be undertaken on how relationship marketing approaches adopted by Life Insurance Companies in relation to insurers’ retention.
This research aims at achieving the following objectives:
i. Examine why and how Life Insurance Companies use Relationship Marketing approach for customers’ retention.
ii. Explore and evaluate the dimensions of Relationship Marketing strategies in Life Insurance Companies.
iii. Critically analyze the role and impact of Relationship Marketing on customers’ retention, in Life Insurance companies.
iv. Identify Relationship Marketing strategies to achieve brand loyalty.
v. Determine how brand corporate image led Life Insurance companies embarking Relationship Marketing.
vi. Review the literature on Relationship Marketing and the Research Methodology results associated with Life Insurance companies to identify exploration gaps.
Some useful material:
https://www.tandfonline.com/doi/abs/10.1080/02642069300000007
https://mbr.cikd.ca/article_60203_332cec687df1e3cc816e06918764cf96.pdf
https://s3.amazonaws.com/academia.edu.documents/50790721/00920703950230040220161208-20083-9gvt14.pdf?response-content-disposition=inline%3B%20filename%3DRelationship_marketing_of_services_growi.pdf&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAIWOWYYGZ2Y53UL3A%2F20200221%2Fus-east-1%2Fs3%2Faws4_request&X-Amz-Date=20200221T144949Z&X-Amz-Expires=3600&X-Amz-SignedHeaders=host&X-Amz-Signature=28d744b7a982488a087825f6613a0960faf3ba10296e05e014fa1be2c29b93f3
http://personal.psu.edu/users/j/x/jxb14/JMR/JMR1987-4-404.pdf