Professional Ethics and its application to Customer Relationship Management (A Study based on selected leading Insurance Organization in the Colombo District)

Abstract

Due to the more and more fierce competition in today’s business, many companies are required to build long-term profitable relationship with customers. Therefore, concept of Professional Ethics will be more vital for any organization to build up proper Customer Relationship Management. The research problem is how to apply principles of Professional Ethics into the field of Customer Relationship Management. The main purpose of this research is to identify the Professional Ethics principles relevant to the Customer Relationship Management and identify the several types of customer grievances and its related Professional Ethics in the insurance industry and the strategy of Customer Relationship Management. Fifty customers were randomly taken as the sample of this research. Both primary and secondary data collection methods were used and questionnaires were referred to as primary data and magazines, books and web sites were used as secondary data. Data analysis has been done quantitatively. According to the survey overall it was found that in Sri Lankan context, application of Professional Ethics in Customer Relationship Management is in a satisfactory level and Customer Relationship has improved in Sri Lanka compare to the past. Suggestions help further improvement of customer service and to design a good customer relationship program and employee development program at every single meeting point of the customer and the organization.