Insurance


Insurance is probably one of the oldest human economic activities, appearing not long after the advent of trade, and developing as a way of protecting merchants from unforeseen events (natural catastrophes, robberies, etc.). There is evidence of traders using insurance for risk management as early as the third millennium BCE (“before the common era”).

Nowadays, insurance is one of the most complex areas of the financial sector, covering a wide range of risks for both personal and business activities. Most insurance companies offer similar products, which makes competition quite fierce. Here are some of the characteristics of the insurance sector:
Read More
  • Clear and effective communication with potential or existing customers is essential, particularly given the complexity of insurance products.
  • Liquidity (i.e., the amount of money available for reimbursements) is one of the key concerns of the industry.
  • Centralized data storage and easy access to information can make all the difference between a successful insurance company and its competitors.
  • The complexity of the industry, as well as the sheer volume of transactions, require powerful reporting and analytics tools to measure efficiency and forecast future trends.
  • Protecting confidential information is critical for insurance companies. Individuals and companies need to know that their insurer can withstand attacks from hackers and will not allow information leaks.
  • Compliance with national and international regulations is becoming more and more difficult, as countries and international organizations implement tighter measures to prevent privacy violations, fraud, etc.
These issues can be addressed by the use of such applications as customer relationship management (CRM), business intelligence (BI), and professional services automation (PSA).

Start Your Software Evaluation:


Related RFP Templates


Insurance and Investment, Marketing Automation, Sales Force Automation (SFA), CRM ...

Related Software Evaluation Reports


This CRM Software Evaluation Report supports specialized criteria for groups engaged in...

Related White Papers

This e-book provides an insight into how sales managers and owners of small- and medium...

Better sales performance management (SPM) capabilities that include advanced analytics ...

Territory management and crediting are an integral part of every sales compensation pro...

This report is based on in-depth interviews with users of compensation plan management ...

Sales Performance Management for Dummies is designed to help you understand the process...

Related TEC Reports

Zavanti CRM is now certified by TEC for online evaluation of customer relationship mana...

Most merchants and consumers have adjusted to the multi-device, multichannel environmen...

Coda Financials (V13) by UNIT4 has been certified by TEC in the financial management so...

Zavanti ERP is now certified by TEC in the enterprise resource planning (ERP) for servi...

Organizations seeking the services of a value-added reseller (VAR), channel partner, im...

Related Research Articles

The recent CRM 2015 event, a joint venture between SAP and SAPinsider, afforded attende...

Sage has announced a new Sage Net Promoter Score (NPS) Program for its North American p...

PROS Inc. recently announced the availability of PROS Cameleon CPQ for Microsoft Dynami...

SugarCRM acquires the intellectual property rights and other assets of Stitch, a Califo...

Microsoft is the first major cloud provider to adopt the first international cloud priv...