While the downturn in the economy has slowed strategic IT spending across financial services, insurance companies that have committed to new customer relationship management (CRM) strategies have not slammed on the brakes. But they are proceeding with caution, according to Meridien Research Inc., Newton, Mass.In a report titled "Insurance Client-Centric Strategies: Reach for the Stars with Service," Meridien highlights insurers that have launched ambitious CRM projects, including an Australian P&C direct underwriter.
Although impressive in its scope, the Australian insurer's CRM initiative has been on the agenda for several years, and has been pushed back as other projects were deemed more important, Meridien reports. In the aftermath of September 11, for example, the company does not plan to deploy CRM until next year-focusing on consolidation rather than growth.
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