Introduction

In today's highly competitive market where consumers are less loyal than ever, insurers must retain and grow their most profitable customers, all while minimizing the resources spent on low- or no-profit policyholders. In pursuit of this goal, insurers will find CRM to be invaluable tool in valuing and managing each customer interaction.

Scope

A detailed examination of the market drivers and inhibitors for CRM in insurance Key strategies for maximizing the return on investment (ROI) of CRM projects Market sizes and forecasts for CRM license sales, broken down by region and insurer-type

Highlights

Insurers must gain a full view of the customer in order to identify and grow the most profitable customers, and marginalize the customers that have little or no profit potential. To capitalize on opportunities and to thwart competition, insurers must become customer centric. The insurers that master the customer relationship will witness a boom to the bottom line. According to Datamonitor projections, global CRM license sales will grow 9% annually through 2012, reaching $440 million.

Reasons to Purchase

Understand how to compete better in today's evolving insurance market Understand the current and future direction of CRM spending in the insurance sector.

DATAMONITOR VIEW 1
CATALYST 1
SUMMARY 1
ANALYSIS 2
From Services to Events: SOA capabilities to be extended with Event-Driven Architecture 2
EDA improves business flexibility and facilitates Complex Event Processing (CEP) 2
EDA / CEP can succeed only if developed with clear business issues in mind 3
Ad-hoc development of distributed applications will emerge as Web-Oriented Architecture 3
WOA requires better integration with SOA platforms and robust application lifecycle management 4
Success of the SaaS model will drive SOA's adoption 4
The adoption of SaaS will increase the need for SOA integration 4
SaaS providers will continue to be significant consumers of SOA solutions 5
The open Source SOA market is set to be increasingly competitive in 2008 5
Due to ongoing consolidation, Open Source SOA is positioned as part of larger product portfolios 6
Exemplary service and support capabilities are key to success of Open Source infrastructure portfolios 6
Open Source SOA still requires technical nous, but this may help in facilitating WOA 6
Business process modeling will become more democratic, collaborative and pervasive 7
Participatory BPM is possible but a lack of meta-model exchange standards may hinder its development 7
SUMMARY 8
SOA will address business requirements and adapt to emerging development trends 8
APPENDIX 9
Definitions 9
Methodology 9
Further reading 9
Ask the analyst 9
Datamonitor consulting 9
Disclaimer 10