For insurers to succeed in a consumer driven market place, they will need to embrace the retail mindset of applying 1-1 marketing strategies and customer service.
This real-time engagement can be facilitated through an industry specific CRM that leverages actionable data and analytics to help influence the user’s purchase decisions. These platforms would allow carriers to “market in the moment” by providing real-time recommendations to quickly improve member engagement or tailor sales and marketing efforts. An industry specific CRM would allow carriers to have all of the information that they need to dive deeper into a member’s household or life-changing events that would present an opportunity to upsell or cross sell a product based on that specific member.
For the organization as a whole, an industry specific CRM would solidify the entire enterprise with a singular view of the member or specific data segments. This unified view will empower carriers with the right data to drive the type of customer experience that consumers are have become accustomed to from online retailers and will now expect from insurers. Read the original story here