Customer Relationship Management (CRM) is a business process with outcomes that optimize customer satisfaction, revenue and profitability by organizing around customer segmentation, fostering customer satisfying behaviors and implementing customer centric activities. Every time customers approach an office, they arrive with a set of expectations, which may be related to the existing services provided by the company or new needs. What happens next will determine their experience, which in turn will shape their future behavior. A good experience may increase their loyalty and tendency to deal with the insurance company again; while a poor experience may make them take their business to a competitor. The ability to recognize this phenomenon and actively manage it forms the basis of customer relationship management. The promise of customer relationship management is to build a customer-oriented strategy. CRM focuses on nurturing customer loyalty, thereby gaining market share, profitability and business growth. Several commercial CRM insurance packages are available which vary in their approach to CRM. However, as mentioned above, CRM is not just a technology, but rather a comprehensive customer-centric approach to an Organization’s philosophy in dealing with its customers. This includes policies and process, front-of-house customer service, employee training, marketing systems and information management. Hence it is important that any CRM implementation considerations stretch beyond technology, towards the broader organizational requirements.Insurance companies can no longer view the customer from the perspective of specific products or a snapshot one-time transaction. To maximize lifetime profitability from valued customers, companies must move out from the traditional storage tower mindset. Technology, commoditization, deregulation and globalization have changed the face of insurance business forever. The traditional model of the personalized neighborhood insurance activity is outdated, and is now replaced by national and multinational service providers, backed by technology system and a proliferation of product choices. Insurance companies are realizing that they can no longer look at a customer from the perspective of a specific product or a limited time frame, but must visualize the entire long-term customer relationship to fully understand a client’s profitability. From a strategic standpoint, insurance company needs to reconsider their traditional focus on product lines. And so, it is time to adopt a comprehensive view of the customer as part of a continuum – not just individual transactions, but a lifetime relationship.

India has a well-developed tax structure with clearly demarcated authority between Central and State Governments and local bodies. Central Government levies taxes on income(except tax on agricultural income, which the State Governments can levy), customs duties, central excise and service tax. Value Added Tax (VAT), (Sales tax in States where VAT is not yet in force), stamp duty, State Excise, land revenue and tax on professions are levied by the State Governments. Local bodies are empowered to levy tax on properties, octroi and for utilities like water supply, drainage etc. In last 10-15 years, Indian taxation system has undergone tremendous reforms. The tax rates have been rationalized and tax laws have been simplified resulting in better compliance, ease of tax payment and better enforcement. The process of rationalization of tax administration is ongoing in India. Since April 01, 2005, most of the State Governments in India have replaced sales tax with VAT.

Exchange risk is the effect that unanticipated exchange rate changes have on the value of the firm. This chapter explores the impact of currency fluctuations on cash flows, on assets and liabilities, and on the real business of the firm. Three questions must be asked. First, what exchange risk does the firm face, and what methods are available to measure currency exposure? Second, based on the nature of the exposure and the firm’s ability to forecast currencies, what hedging or exchange risk management strategy should the firm employ? And finally, which of the various tools and techniques of the foreign exchange market should be employed: debt and assets; forwards and futures; and options. The chapter concludes by suggesting a framework that can be used to match the instrument to the problem.Exchange risk is simple in concept: a potential gain or loss that occurs as a result of an exchange rate change. For example, if an individual owns a share in Hitachi, the Japanese company, he or she will lose if the value of the yen drops.Yet from this simple question several more arise. First, whose gain or loss? Clearly not just those of a subsidiary, for they may be offset by positions taken elsewhere in the firm. And not just gains or losses on current transactions, for the firm’s value consists of anticipated future cash flows as well as currently contracted ones. What counts, modern finance tells us, is shareholder value; yet the impact of any given currency change on shareholder value is difficult to assess, so proxies have to be used. The academic evidence linking exchange rate changes to stock prices is weak.Moreover the shareholder who has a diversified portfolio may find that the negative effect of exchange rate changes on one firm is offset by gains in other firms; in other words, that exchange risk is diversifiable. If it is, than perhaps it’s a non-risk.Finally, risk is not risk if it is anticipated. In most currencies there are futures or forward exchange contracts whose prices give firms an indication of where the market expects currencies to go. And these contracts offer the ability to lock in the anticipated change. So perhaps a better concept of exchange risk is unanticipated exchange rate changes.These and other issues justify a closer look at this area of international financial management.

In Europe, declining corporate tax rates have come along with rising tax-to-GDP ratios. This paper explores to what extent income shifting from the personal to the corporate tax base can explain these diverging developments. We exploit a panel of European data on legal form of business to analyze income shifting via incorporation. The results suggest that the effect is significant and large. It implies that the revenue effects of lower corporate tax rates – possibly induced by tax competition — will partly show up in lower personal tax revenues rather than lower corporate tax revenues. Simulations suggest that between 12% and 21% of corporate tax revenue can be attributed to income shifting. Income shifting is found to have raised the corporate tax-to-GDP ratio by some 0.25%-points since the early 1990s.In this project we analyze long-run scenarios for the European corporate tax policy and incorporation as well as the impact of conditions on the global LNG market on market shares.

This project studies the tax planning for individuals assessed to Income Tax.The study relates to non-specific and generalized tax planning, eliminating the need of sample/population analysis.Basic methodology implemented in this study is subjected to various pros & cons, and diverse insurance plans at different income levels of individual assessees.This study may include comparative and analytical study of more than one tax saving plans and instruments.This study covers individual income tax assessees only and does not hold good for corporate taxpayers.The tax rates, insurance plans, and premium are all subject to FY 2007-08 only.