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customer retention

customer retention

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Published by kishan321

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Published by: kishan321 on Dec 15, 2009
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05/14/2013

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CHAPTER 01
INTRODUCTIONS1.1Background Of Study
Insurance is a very important part of personal financial planning. Because it is thequickest & easiest source of cash for family upon death & cover the any claim.Because those today lots of customers are join the insurance. So automaticallyincrease competition companies. When increases the competitors the originationsshould retaining their customer. They cannot do that haven’t their profit & they can’tachieve originations objectives.Insurance is “Basically a protection against a financial loss which can arise on thehappening of an unexpected event. Insurance companies collect premiums to providefor this protection. By paying a very small sum of money a person can safeguardhimself and his family financially from an unfortunate event.”Insurance only spread the financial loses of insurance members over the whole of remaining insured. Whole assets are not damaged thus insurance company act asmiddle man for such social cooperation.Life insurance policy affords protection to individual, widows and dependents to meetthe critical situation. Fire marine and miscellaneous polices help the development of trade, commerce and industry hence the importance of insurance from social andeconomic point of view is immense of economic growth.
Insured reduce the losses
It is means of savings
It is helpful in competition
Insurance helps in spreading education
It promote international trade
It accumulates large funds for nation 
1.1Problem statement
Insurance companies contribute an important part to the financial sector & wholeeconomy. In Badulla ceylinco insurance company provide service to the customers but continuously monthly premium payment decreased.
1
 
Cost
 
Loyalty
 
Choice
 
Satisfaction
 
Value
 
Recovery
 
Quality
 
Retention
2009 April 15May36June48July51
1.2Objectives of research
Main objective
1.
To identify the strategies to retaining customers
Sub objectives
1. To identify the competitors2. To identify the factors to customer retaining3. To identify the present situation of Badulla ceylinco insurance company
1.1Conceptual Frame work 
2
 
Figure 1.1 Conceptual Frame work 
1.5
Methodology
1.5.1
Data Collection Method
Primary dataInterviewQuestionnaires
Secondary dataAnnual report of ceylinco insurance 2008Other related report - policy book, Magazine
1.5.1Evaluation Methods
Collection data will be evaluated the based on the mean value & standard deviation of variable. It will be discussed as following way:
RangeDecision attribute
1<X=<2.5Lower level retention2.5<X=3.5Moderate level retention3.5<X=5.0Higher level retention
CHAPTER -02
LITERATURE REVIEW2.1 Introduction
A literature review discusses published information in a particular subject area, andsometimes information in a particular subject area within a certain time period.A literature review can be just a simple summary of the sources, but it usually has anorganizational pattern and combines both summary and synthesis. A summary is a
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