Integration is the cornerstone of any successful CRM strategy for Insurance. A changing competitive climate, in which customer loyalty is fleeting and agents flock to organizations that promote business growth (with book of business in tow) has organizations competing for traditional market share, as well as the industry’s top tier talent. At the same time, organizations are mandated to comply with increasingly stringent compliance, administrative and reporting requirements, while agents and brokers are eschewing cumbersome administrative tasks to focus on revenue generating activities.

Early adopters of CRM understood that managing customers could be as strategic as managing their policy or claims operations. These early adopters aimed to leverage CRM to promote customer loyalty and drive growth. More often than not, however, they found themselves saddled with a siloed system that added to the agent’s workload, eroding agent satisfaction and escalating turn-over.

Next generation CRM provides organizations with a cost-effective and efficient method of leveraging enterprise customer data stored in legacy and back-office systems. It combines customer profile, interaction, policy, billing and claims information with relevant third-party information such as demographics, credit scores, fraud scores, or other predictive scores, to present agents with a comprehensive view of the customer in a unified, integrated application. This allows agents to become net receivers of all enterprise knowledge of the customer, empowering them to maximize productivity, deepen client relationships, and grow premiums and market share through intelligent proactive interactions.

This white paper discusses how next generation CRM enables insurance services organizations to:

  • Integrate disparate data and systems with CRM solutions
  • Deliver integrated information seamlessly to the end user
  • Scale in accordance with evolving business needs
  • Provide a customized user interface that addresses the organization’s and the agent’s unique needs
  • Add readily accessible, net new value to increase end user adoption