Relationship Management in the Insurance Ecosystem


Over the last decade, the insurance industry has exponentially, increased investments in technology initiatives to drive improved overall organization growth. Customer Relationship Management (CRM) technology is one of the areas that is still growing while facing its own challenges. CRM for insurance can be seen in two folds: managing the direct sale customer (the insured) or managing the retailer (the producers). The relationship between the carrier and these two parties can always be improved, thus yielding more productivity and satisfaction on all fronts. We understand that it is imperative that we provide a set of tools to deliver improved CRM.

The realm of offering customer relationship management and services offers many solutions and spans multiple industries. The complex and dynamic demands of what is needed to manage an insurance customer relationship cannot be stressed enough. Some companies have the basic functionality and framework to enable this and have done so successfully. However, the gap exists in the relationship with the field producers. What do they need to feel more involved, heard, less used, more empowered, sense carrier transparency, be informed, and feel in control? How many call centers and producer management representatives will a carrier need to employ to ensure its thousands of producers are functioning at optimum levels?

For the carriers, the producer managers, regional and local marketing or relationship representatives will be the relevant stakeholder in driving the framework’s functionality on what this tool will deliver. Not forgetting of course, the producers who are equally a trigger for the need.

This beckons the need for a tool that can offer the following solutions to both the carrier and producer:

These mentioned items do not fully document the requirements of a CRM tool, but I believe it is a starting point to discuss what an insurance carrier would be looking for. The decision to implement this in-house can be a risky venture considering the capital investment. If looking to vendor technology the question must be asked: should vendor-sourced systems be considered, and will this be just another web of integrated solutions? In the future, will we see a vendor standing out with a platform that offers a solution with the option for easy configuration of business rules, workflows, data and integration requirements?

The future of Field Producer and Customer Relationship Management is the next generation of customer relationship management tools for insurance, and it is a pole position that’s up for grabs.

VUE software continues to develop its platform for scalability and configurability with continuously improving technologies. VUE’s robust framework, object architecture, industry experience and customer needs analysis positions it to significantly take over this space. This can be combined with the required integrations with other systems—policy administration, underwriting, sales lead etc.—to provide reliable, clean, analyzed data, and information as required in an application. With many of the above already offered in our baseline product functionalities, carriers can rest assured that VUE understands the need for an alignment of their relationship management strategies with the overall organizational growth and productivity strategy.


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