MGMT Insurance Ltd. is an insurance company that accepts payments on various insurance policies from businesses across the island. These businesses deduct payments from employees' salaries and pay the insurance company a lump sum each month. This total amount deducted is shown on each employee's payslip. Deductions are due at the end of each month. A business submits one payment from its employees to the insurance company via online payment through the bank. However, if payments were received after 11 am, the bank does not process them until the next business day. At the beginning of each month, an administrative assistant at MGMT Insurance Ltd downloads the deductions for each business and passes the file on to another employee in the department to allocate payments to the various policies. These payments are linked to the client's unique number along with his/her relevant policy numbers and amounts due. However, recently there have been some complaints that payments for some policies were not allocated correctly. As a new manager with the company, you wish to check the system to ensure it is up-to-date and report your findings and possible recommendations at the upcoming meeting.

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One of the first things you decide to do is improve the company's relationship with its customers. What software system would you consider, and explain how this can benefit the business.

 Identify each of the following from the point of view of the insurance company. Be sure to support your answer with an example from the scenario:

Answer rating: 100% (QA)

To improve the companys relationship with its customers implementing a Customer Relationship Management CRM system would be beneficial for MGMT Insura... View the full answer