Explores Why Insurers Must Remove Departmental Silos in Order to Enable Customer Data Integration

DUBLIN, Ireland--Research and Markets (http://www.researchandmarkets.com/reports/c84405) has announced the addition of “Protecting and Improving Insurers Margins with CRM (Strategy Focus)” to their offering.

To capitalize on strong market conditions, and to alleviate the pains of cyclical troughs, insurers must use CRM to gain a greater share of the customers wallet and improve margins.

Scope

• Explores why insurers must remove departmental silos in order to enable Customer Data Integration (CDI).
• Compares the direct sales model with the agent model, and details how to improve the agent-insurer relationship.
• Details why the sales department must "close the loop" between not just the marketing department but also the claims department.

Highlights of this title

Armed with a view of the customer that ranges from personal and product information to intangible information, insurers are able to segment each customer in an effort to tailor promotions and allocate resources.

In terms of managing independents, insurers must design an easy to use and reliable portal that can quickly provide accurate pricing information and allow for expedited services such as underwriting and policy administration.

To close the loop, the marketing department must follow leads through the sales process in an effort to improve future marketing campaigns, as well as to create marketing campaigns for prospects that have already contacted the company.

Key reasons to purchase this title

• Understand how to compete in today’s evolving insurance market
• Gain insight on how to manage indirect sales channels
• Explore how various departments can improve sales through increased collaboration

Contents:

OUR VIEW

CATALYST

SUMMARY

ANALYSIS

Insurers must gain a full view of the customer in order to drive cross-sales and allocate resources more efficiently

Customer centricity begins with Customer Data Integration (CDI)

Customer segmentation: The first step in customer analytics

Beyond segmentation: Portfolio Analysis and Predictive Analytics

Insurers must aggressively manage their producers, i.e. agents and brokers

Portals: The differing needs of captive and independent agents

Insurers need to integrate and automate sales, marketing and operations

"Close the Loop"

Intelligent automation reduces costs and improves service

ACTIONS

Design flexible offerings that meet the needs of the intricate insurance process

Create insurer-agent portals that allow for collaboration but respect the agents sovereignty

Know where the market is heading so that you can properly market to insurers

APPENDIX

Definitions

Methodology

Further reading

Ask the analyst

Our consulting

Disclaimer

List of Figures

Figure 1: The process required to turn a prospective customer into a policyholder

For more information visit http://www.researchandmarkets.com/reports/c84405

Source: Datamonitor