THE IMPACT OF CUSTOMER RELATIONSHIP MANAGEMENT ON THE FINANCIAL STABILITY OF INSURANCE COMPANIES
Abstract
Customer relationship management (CRM) has become one of the key drivers of sustainable development and competitive advantage in the insurance industry. This study explores the impact of CRM practices on the financial stability of insurance companies, focusing on mechanisms through which effective customer management enhances long-term profitability and reduces operational risks. The paper discusses how customer acquisition, retention, satisfaction, and loyalty contribute to stable premium inflows and improved cash flow performance. In addition, it highlights the role of digital tools, feedback systems, and service quality improvement in minimizing claim disputes and administrative costs. Comparative insights and examples from international insurance markets are provided to demonstrate how CRM implementation increases financial resilience. The findings suggest that insurance companies that invest in strong customer management systems achieve higher client retention rates, more predictable income streams, and greater financial stability. Therefore, optimizing CRM strategies can be considered a crucial component for ensuring long-term sustainability and competitiveness in the insurance sector.
Keywords
Customer Relationship Management (CRM), insurance companies, financial stability, customer retention, customer satisfaction, premium income, risk management, service quality, digitalization, customer loyalty.
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