Few technology concepts have been hyped more and delivered less to the insurance industry than customer relationship management, also known as CRM.
At the beginning of this century, pundits–including yours truly–were singing the praises of this technology initiative, which basically promised that technology would enable us to determine the wants and needs of our most profitable customers, and then help us to develop products and services aimed at those very profitable folks.
A few years and multiple problems later, however (estimates of the failure rate are as high as 70 percent, with losses approaching $100 million), insurers were left licking their wounds and cursing the day they had first heard the dreaded acronym.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
