Insurance-Canada.ca
... Consumers Professionals Insurance-Canada.ca

HOME

SITE MAP

Managing and Leveraging Relationships

Roles and relationships define the Insurance Business Network

Information and Articles   |   Directories of Providers

Today, relationships are more important than ever for effective insurance and risk management. The insurance community faces unrelenting pressures on costs, increasing service expectations from customers, demands for more sophisticated products and services, new requirements for distributors and insurers, and the introduction of new technologies and systems.

Technology is increasingly important in supporting new, flexible relationship structures. Information on claims, underwriting, distribution, and marketing are no longer confined to pockets of organizations. Tools such as Internet based communication, cross-organizational integrated processes, and advanced Customer Relationship Management systems offer unparalleled access to information and transactions by organizations, their business partners, their customers, and their competitors. The leaders are those who best distill quality information, and make winning business decisions to keep pace with market opportunities.

So many relationships, and so many roles. New perspectives, more challenges, rising issues, possible answers to:

  • As the nature of many relationships change from administrative processor to knowledge provider, how does this affec the supply chain from insurance consumer to distributors, underwriters, reinsurers, and suppliers?

  • What are the real business benefits of Internet based technologies, and what business impact do they have on relationship dynamics?

  • Where can progressive organizations best capitalize on current and emerging Customer Relationship Management practices, tools and services?

  • What are the trigger events offering, or even requiring, relationship evaluation and review?

Organizations are considering greater use of the Internet for distribution of insurance and for servicing customers. Products and services, such as sales force automation, CRM, XRM, etc. are available from a variety of suppliers. Everyone has access to growing volumes of data. Long held relationships are being challenged. Loyalty must be continually earned. Intelligently managing the relationships among all participants in the delivery of insurance is key to future success.

Above all, insurance is a people business. Maintaining existing relationships, developing new ones, and leveraging the value of all relationships are key to virtually every aspect of the industry. The question is How can we develop and execute an effective relationship strategy in our current and future technology-pervasive environments?

Now, more than ever, relationships are the touchstone of insurance dynamics. And technology - in use now, and appearing on the horizon - is offering relationship opportunities and challenges for everyone in the insurance community.

The focus on new and existing relationships is becoming increasingly important. The nature of insurance sales, marketing, and service is rapidly changing, as part of the financial services revolution. Technologies are evolving even faster.

Customer satisfaction is everyone's responsibility and affects every organization's bottom line. In the insurance environment, the insured can be touched by most everyone in the supply/distribution chain.

Information & Articles

Articles, editorials, commentary, research and published material pertaining to Managing and Leveraging Relationships and Roles in the Canadian Insurance Industry.

For older articles, see the archive of information & articles.

[ Top | Back | Home ]