A Sizable Advantage
Pearl Insurance gets closer to its customers with Siebel software.
Pearl Insurance, an insurance marketer, broker, and third-party administrator that is part of Peoria Heights, Illinois-based Pearl Companies, credits its move to Oracle's Siebel Customer Relationship Management Professional Edition
for enabling the company to thrive and grow in the highly competitive insurance industry.
According to Mike Murphy, executive vice president and chief sales and marketing officer for Pearl Companies, one of the company's biggest challenges is having the ability to have a complete view of customers—pinpointing which customers have what products, what products they are likely to be interested in, and what their buying habits are.
Learn how installing Oracle's Siebel Customer Relationship Management Professional Edition, as well as Siebel Insurance, Siebel Insurance Call Center, Siebel Sales, and Siebel Service has provided Pearl Insurance with a CRM system that is flexible enough to support numerous sales channels within its vertical markets. The company reports that three years ago, it was marketing to a third of the prospects and customers it handles currently, thanks to its updated CRM system.
Who says the little guy never wins? In the world of insurance marketing, brokering, and third-party administration, two companies dominate the scene: New York-based Marsh & McLennan and Chicago's Aon. Combined, these giants account for almost US$27 billion in market capitalization. Two years ago, Pearl Insurance, a subsidiary of the Peoria Heights, Illinois-based Pearl Companies, was competing alongside hundreds of other small companies for the remainder of the market. Winning any portion of Aon's and Marsh & McLennan's customer bases would require a strong sales team and, even more, the ability to assess and track marketing programs and target the most attainable—and profitable—potential customers with pinpoint accuracy.
"Being a smaller company imposes priorities on our business model," explains Mike Murphy, executive vice president and chief sales and marketing officer for Pearl Companies. "One of the biggest challenges is being able to achieve a 360-degree view of customers—knowing which customers have what products, what products they're most likely to be interested in, what their buying trends are, and how Pearl can bring value."