Analytical CRM - Insurance CRM

Customer Relationship Management is part of agency management system(AMS) . Insurance CRM we are talking here. we talked different aspect for CRM in our past post and also we talked about Operational CRM. Today we are going to talk about Analytical CRM.

Analytical CRM
Analytical CRM analyzes customer data for a variety of purposes:

Design and execution of targeted marketing campaigns to optimize marketing effectiveness
Design and execution of specific customer campaigns, including customer acquisition, cross-selling, up-selling, retention
Analysis of customer behavior to aid product and service decision making (e.g. pricing, new product development etc.)
Management decisions, e.g. financial forecasting and customer profitability analysis
Prediction of the probability of customer defection (churn analysis)
Analytical CRM generally makes heavy use of data mining.

ref: agency management system, insurance crm, wikipedia

Operational CRM

Insurance CRM we are talking here. we talked different aspect for CRM. Customer Relationship Management is part of any good agency management system. Today we are going to talk about Operational CRM.


Operational CRM
Operational CRM provides support to "front office" business processes, including sales, marketing and service. Each interaction with a customer is generally added to a customer's contact history, and staff can retrieve information on customers from the database when necessary.

One of the main benefits of this contact history is that customers can interact with different people or different contact channels in a company over time without having to describe the history of their interaction each time.

Consequently, many call centers use some kind of CRM software to support their call center agents.

Operational CRM processes customer data for a variety of purposes:

• Managing Campaigns
  
• Enterprise Marketing Automation
  
• Sales Force Automation

ref: Agency Management Software, wikipedia