Product Type: Market Research Report
Published by: TowerGroup
Published: September 2005
Product Code: R301-865Description This TowerGroup ViewPoint discusses why now is the time for insurance companies to refocus their customer management strategies and resources on customers rather than products and processes. This call to action is due, in part, to the rapidly advancing impact of US demographics on the financial services industry. While much has been reported about a demographic shift, the market has been slow to mature, and its effects are yet to be fully appreciated. However, it is clear that the market will change very rapidly, and the significance to the insurance industry is distinct because of the industry's unique value in offering protection-oriented products and services. Advancements in customer relationship management applications and the use of analytics also propel insurers to reinvigorate their efforts. For insurers to capitalize on the opportunity, they must take advantage of the technology options that can assist them in delivering combinations of products, services, and industry partnerships for competitive advantage.Table of Contents - TowerGroup Take-Aways
- Report Coverage
- Background
- Product and Service Sequencing
- Exhibit 1: Correlating Select Financial Products to Investment Stage
- Integrating Sales and Service Delivery
- Exhibit 2: Predictive Analytics for Identifying Customer Needs and Opportunities
- Summary
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