Abstract
This Financial Insights study analyzes the evolution of customer relationship management (CRM) demand in the Western European insurance industry. It is important to understand what has changed and how the situation is expected to evolve. This study answers key questions such as:
- Why are insurance companies currently not using or not considering a CRM solution?
- What are future investment plans for CRM solutions in the European insurance industry?
- What should IT vendors take into consideration when targeting this market?
According to Mirko Corbetta, research analyst for Financial Insights European IT Opportunity: Financial Services research, "The European insurance industry is expected to pay increasing attention to CRM solutions even if its main issue for 2005 remains cost efficiency. The biggest efforts to improve CRM systems will be concentrated in the largest groups with large synergy opportunities. IT vendors targeting this business area need to build specific CRM solutions for insurance business and to satisfy a group insurance providers requirements, such as a short ROI period."
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