customer relationship management for the insurance industry

Table of Context

Introduction 2

Points of CRM 3

Difference between CRM 1 .0 and CRM 2 .0

Customer Relationship in Insurance Industry 4

Value of PeopleSoft Enterprise CRM for Financial Services 6

Strategic benefits of Oracle 's customer relationship management 8

Conclusion 14

References 16 Customer Relationship Management for the Insurance Industry

Customer Relationship Management is what they call a process of connecting companies to its customers . CRM helps on how to pass on information to its customers by the help of marketing information sales , management

and customers and vice versa . In this way the company can be able to view the needs and wants of its customers and know what to give to the customer to satisfy all those needs . CRM is said to be the philosophy , policy and coordination strategy ' used to connect different individuals in coordinating efforts to create an overall valuable series of experiences , products and services provided for the customer . If the business firms already have this strong customer relationship management , it 's now easy for the firms to assure loyalty from its customers

CRM used for Insurance Industry provides a stronger persona that convinces the customers to avail of insurance . We all know that Insurance Industry nowadays is booming high . People are engage into it selling it or buying insurance for future usage . The customer relationship that agents were trying to build between agent and customers in Insurance Industry is not that easy to maintain . Trust is very important and building trust with the person you are not really familiar with is a bet whether you lose or gain in the long run . Also in Insurance Industry many are misled because they had a hard time having loyal customers who will support agents all the way to its selling process and earning process . Many are also entering into selling of insurance that you can say there were many agents in the corner but customers are missing

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1 . Bateman , T Snell , S (2007 . Management : Leading Collaborating in a Competitive World . The McGraw-Hill Companies , Inc

2 . Rigby , Darrell K Frederick F . Reichheld , Phil Schefter (2002 "Avoid the four perils of CRM . Harvard Business Review 80 (2 : 101-109 HYPERLINK "http /en .wikipedia .org /wiki /Digital_object_identifier " \o "Digital object identifier " doi : HYPERLINK "http /dx .doi .org /10 .1225 2F8946 " \o "http /dx .doi .org /10 .1225 2F8946 10 .1225 /8946

Points of CRM

Got this quote from the blog I just read recently that states The Best Customer Strategy : Fire the Manager , Not the Employee ' posted by Michael Maoz , VP Gartner Fellow . Yeah right , isn 't it ? Why fire employees who just follow what is being taught to them by the higher subordinates ? Being a Customer Care Specialist is a challenging role any individual wants to portray just to show that they can handle all kinds of people 's character . But the fact that you do it also to earn is something you must be careful enough to do . How to manage customer relationship when it...