The Foundations Of Good Customer Relationship Management

Abstract

The present paper gives account of the theoretical foundations of good customer relationship in insurance sector. It proceeds with a brief description of the transition from traditional to modern administration that resulted from making good advantage and use of the latest advances in digital technology to enhance the quality of customer relationship management. The body of paper consists of eight theoretical foundations that constitute the essence of a good customer relationship management. These theoretical approaches are presented in an independent way giving each its worth and highlighting its unique perspective. Mass customization, for instance, focuses on personalizing, and individualizing the customers’ offer, whereas relationship marketing concentrates on the importance of the customer relationship itself. Other foundations were also highlighted and their distinct perspectives were described. Each of the eight approaches was described in the context of insurance sector .