Insurers have used customer relationship management (CRM) systems for years to gain greater insights into their clients' preferences, so they can better serve them and uncover new marketing and sales opportunities. But with ongoing changes in customer behavior, such as the growing use of the Internet, social media and mobile devices to gather information about services and policies, companies are having to re-evaluate their CRM systems and strategies to best respond to the shifts.
"The promise of CRM was to help companies get a better view into how their customers behaved, and to generate a unified customer view across lines of business and systems," says Craig Weber, SVP at Celent, a research and consulting firm. "Insurers that have thought these issues through over the past decade probably have in place many of the tools they need. But recent behavioral shifts, such as the exploding popularity of social media and mobility tools, have put more useful data in play. So re-evaluating the tools and data sources, and taking a fresh look at behaviors, makes sense."
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