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What US Banks Must Learn from Life Insurers About CRM-And Vice Versa

Published by: TowerGroup

Published: Dec. 3, 2002 - 12 Pages


Table of Contents


Introduction

Background on CRM

CRM Requires Front- and Back-Office Technologies
to Work Together

CRM Processes in FSIs

Executing a CRM Business Strategy

Implementing a Hybrid CRM Approach

Conclusion

Abstract

The Financial Services Modernization Act of 1999 has allowed banks of all sizes to sell insurance services in their branches. TowerGroup estimates that the sales of individual life insurance products by banks during 2001 was a minuscule 3% of total premiums written, but that this figure will grow steadily over the next several years.

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