Financial Services Industry
Industry: Email Alert RSS FeedGlobal CRM sales to reach GBP220m by 2012: Datamonitor.
Financial Adviser, April, 2008
Byline: Maryrose Fison
'Ultra-competitive market' characterises customer relationship management, find Datamonitor
Customer relationships are key to competitive advantage in the insurance sector, says Datamonitor.
Findings from the online data analyst's review of customer relationship managers, forecast global CRM sales would grow 9 per cent annually through 2012 to approximately GBP220m.
The review also linked increasing deregulation and globalisation with an "ultra-competitive market", saying providers would have to shift the focus to consumers to ensure competitive edge.
The report said: "Today's customers, who expect low prices and knowledgeable service, have little loyalty and will not hesitate to switch to an insurer...
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