Customer relationship management (CRM) software can help insurance companies and brokerages identify sales opportunities, a source asserts.
Express Computer Online claims that client interactions can be broken down into three groups, with the pre-sales stage involving the acquisition and analysis of contact and address data.
Sudip Bandyopadhyay, managing director of Reliance Money, tells the news provider that data quality is vital as CRM will categorize consumers based on trading patterns, risk and profitability.
He states: "We do not end up calling the same customer twice for the same offers. Service requests from customers give us trend lines into customer behavior helping us to anticipate the customer's needs."
Mr Bandyopadhyay tells the source that using CRM allows his firm to understand its customers far more effectively and use its contact and address data as part of its "information warehouse".
In other news, John Chambers, chief executive and chairman of Cisco Systems, recently told PCWorld.com that the combination of cloud computing and detail storage could present a security nightmare.