Siebel Systems, Inc. has announced the release of Siebel 7, the seventh version of its CRM solution for financial services.
According to San Mateo, Calif.-based Siebel, the new software tool is a "suite of applications for customer relationship management" that includes programs for partner relationship management (PRM) and employee relationship management (ERM)"all based on a common Web architecture."
Siebel claims to hold 72% of the CRM market in the insurance industry. According to Ronald L. Young, senior director, product marketing, for Siebel, insurance was the first vertical market for which Siebel developed its CRM suite.
Siebel 7 has been designed with features specific to insurance and financial services, says Young. This includes Siebel eInsurance, with functionality specific to policy service, claims management, billing account maintenance, sales, field service and Web self-service for customers.
The company notes that Siebel 7 enables an organization to "more effectively identify, select, acquire and retain customers." It provides a centralized repository of customer data that is captured from all customer interactions "across channels and touchpoints."
Siebel says the updated software suite provides "real-time analytical ability to track and understand both customer behavior and key indicators of corporate performance." It also "enables organizations to be digitally wired to their customers, partners and employees."
The new release "runs mobile or connected," which makes it convenient for claims adjusters, says Young. It also moves users away from having the program resident on their computers to an "all browser" model. In essence, it allows the carrier to become an application service provider for agents, he observes.
