In this three-part series, John Sarich discusses the pros and cons and the future of customer relationship management (CRM) technology for insurance carriers and agents. This first article paints a picture of CRM, and explores whether it fits the needs of the industry.
The U.S. insurance industry is complex, hard to understand, and reluctant to apply a one-size-fits-all technology solution to its requirements.
The business requirements for a life insurance carrier with career agents differ vastly from a property and casualty company that sells its products through the independent agency system. Despite commonalities between a career agency, or direct-writer model, and one that uses independent advisors, brokers, or agents, the one-size-fits-all solution isn't going to meet any of their needs.
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