The upsides of creating a single view of the customer are relatively well understood in the insurance industry. Benefits include; effective relationship management, the enablement of cross-selling and up‐selling, better customer service and retention, operational efficiency when working across multiple departments, products and channels etc.
But while the value is clear, creating a more customer-centric business environment has historically been hard to achieve against the backdrop of fragmented systems, processes and data. This paper, from independent IT analyst firm Freeform Dynamics, examines how technology and market trends, together with changes in the regulatory landscape, are elevating the status of customer-centricity from 'aspirational ideal' to 'business critical imperative'.
Dale Ville, Research Director - Freeform Dynamics