Insurance customer relationship management in the digital age

CRM capabilities are mandatory for gaining a deeper understanding of customers and arming employees with the contextual information required to enhance the individual interaction and the overall experience. (Photo: Shutterstock)

Mention the acronym CRM and you’ll probably get varying responses from insurers. Some remember customer relationship management (CRM) as a painful experience from a prior era that they would rather forget. Certainly some insurers found great value in CRM and have extended and relied on these solutions up to the current day.

Others went through a big implementation, and were able to gain some employee adoption, and they reaped a few of the benefits. And some companies suffered through expensive and time consuming implementations that ultimately achieved limited success. So, it may come as a surprise to many insurers that CRM is experiencing a resurgence in insurance. A new research report released by Strategy Meets Action, “CRM in Insurance: New Visibility and Role in the Digital Age,” describes the renewed interest which is translating into investments, enhancements, and new implementations.