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CRM Adoption in the Western European Insurance Market: Still a Long Road AheadProduct Type: Market Research ReportPublished by: IDC Published: September 2005 Product Code: R104-20640 Description
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 provider's requirements, such as a short ROI period." Table of Contents
Table of ContentsFinancial Insights Opinion In This Study Methodology Conceptual Framework Sample Design Sampling Unit: IDC's Economic Entity Sample Quotas Table: Vertical Market Quotas Table: Company Size Quotas Sample Frame and Sampling Method Table: Number of Completes by Country Respondents Interviews Questionnaires Interview Schedule Confidence Intervals Weighting Analysis of the Data Definitions Insurance Solution Situation Overview Drivers and Inhibitors: New Revenue Sources Versus Cost Constraints The Demand for New Revenue Figure: CRM Solution Adoption Inhibitors of CRM Investments in the Insurance Sector Figure: Reason for Not Using a CRM Solution, 2003 and 2004 The Use of a Web Interface in CRM Figure: Use of a Web Interface for CRM Solution by Country, 2003 and 2004 Figure: Use of a Web Interface for CRM Solution Currently or in the Future by Country, 2003 and 2004 Future Outlook The Future of CRM in the European Insurance Sector Figure: Importance of Enterprise Solution Investments Pure Insurance Players Bancassurance Players Direct Insurance Players Country Differences Are Still Important Figure: Importance of Investments by Country When Will Insurance Companies Invest in CRM? Figure: CRM Solution Investment Plans Compared with Prior Year Essential Guidance Learn More Related Research Synopsis |
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