Protecting and Improving Insurers' Margins with CRM (Strategy Focus)

Table of Contents

• DATAMONITOR 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 agent' s sovereignty
  • Know where the market is heading so that you can properly market to insurers
• APPENDIX
  • Definitions
  • Methodology
  • Further reading
  • Ask the analyst
  • Datamonitor consulting
  • Disclaimer
  • List of Figures
    • Figure 1: The process required to turn a prospective customer into a policyholder