Communities: Brokers, Advisors & Consultants
Lack of a CRM Strategy Hinders Health Insurer Growth
Publication Date: 15 October 2008 ID Number: G00162107 Joanne Galimi
The Gartner 2008 healthcare payer application survey reveals slow adoption of an enterprisewide CRM strategy. Having no CRM strategy in place will cause roadblocks to business growth as health insurers struggle to increase membership.
- A customer relationship management (CRM) strategy is an inescapable necessity for effective CRM investment. However, health insurers are not thinking strategically and are budgeting and investing in CRM without having a CRM strategy in place.
- The 2008 Gartner healthcare payer application survey revealed that 47% of health insurer respondents do not have a CRM strategy and have no plans to create one.
- Effective CRM is not just about deploying sales, marketing and customer service technologies. Business strategies for member acquisition and retention are critical components that many health insurers have failed to create.
To develop and manage a CRM strategy, health insurers should:
- Set goals and objectives by customer segment, align the goals with corporate objectives, and establish a governance structure.
- Establish metrics for selection, acquisition, retention and cross-selling, based on these goals.
- Determine the appropriate products, channels and pricing, based on customer segments.
- Develop tactical plans, and define and document processes for customer communications across marketing campaigns, sales, and service channels for execution.
- Specify the technologies required to support each area, and ensure alignment across marketing, sales and service.
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