Five years ago, customer relationship management was the business strategy that financial services executives were embracing. The promise of technologies that could improve sales, marketing, customer service, customer retention and-most importantly-revenue was an alluring selling point to senior executives concerned about increased competition in a changing financial services landscape.
Today, CRM is regarded by many industry observers as a failed undertaking, associated with cost overruns, ambiguous purposes and goals, and broken promises. Those opinions, however, don't accurately epitomize most carriers' experience with CRM, according to the findings of a new report, "CRM and the Insurance Industry," by Aberdeen Group Inc. and Insurance Networking News.
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