Relationship marketing is promising as the core marketing commotion for businesses operating in severely competitive environments. Normally, organizations spend six times more to gain customers than they do to keep them. In this manner, several organizations are currently giving careful consideration to their associations with existing customers to hold them and increment a lot of customer's buys. Deregulation of Insurance industry in the universal has brought about expanded number of layers in the market subsequently rivalry. Service organizations have been pioneers in evolving customer retention strategies. This paper mainly focused on how organizations adopt and implement various innovative CRM practices in their life insurance business.   
 
KEYWORDS: Customer Relationship Management, Customer Retention, CRM Practices.

Introduction  In a globalized insurance situation and with severe rivalry in the insurance sector, an business can carry on only with its customer centric strategies. Every association should edge on Customer Relationship Management (CRM) in order to be customer friendly, improvement of customer satisfaction and the ensuing development of the firm. Traditionally, marketing has been seen from the perception of managing association with customer groups. Relationship marketing, however, takes a lot of observation of the business. It underlines on a more extensive scope of business sectors to give the best incentive as far as both the item and furthermore the customer benefit. At present, the CRM is the most recent thought of overseeing and spreading protection business all the more effectively. It is a device that plans protection items which coordinate with the customer desires.  

           It additionally fabricates customer trust and creates loyalty of the customer. The principle system of CRM is to focus on customer needs, creative advertising channels, uniform quality outlets and distinguishing proof of target showcase and furthermore customer gatherings. The new age organizations guarantee to develop by customer benefits by tuning up innovation, preparing staff and handling existing markets. With better prospects offered in the innovation division, the limits and capacities of the extra security area to hold and enhance customer base is fortified. The convenient and effective strategy towards customer benefit makes this conceivable and satisfactory to the back up plans. The nature of customer relationship is frequently the differentiator. The essential goal of a protection association is to keep up clearness in exchanges and give full insurance to policyholders. The back up plans ought to be most extreme straightforward at the season of the offer of their items. They need to give clear and finish data about the items. The greatest recipient of the opposition among life back up plans has been the customer.

Objective of the Study  The objective of this study is to identify the innovative CRM Practices adopted and implemented by life insurance organizations.