Page 1: Introduction
For businesses to survive and prosper, they must listen to and fulfil the needs of their customers. Businesses are harnessing the advantages of developments in information and communications technology, in order to provide improved services to customers. At the same time, customer expectations about speed and efficiency of service have increased, e.g. in banking, busy customers want instant access to their accounts 24 hrs a day, 7 days a week, through service-centres or the internet.
Relationships between buyers and sellers are continually developing. Key features of successful 20th century business relationships are that:
- suppliers recognise the importance of fulfilling customer needs
- customers have more choice, which is more accessible, in one ‘phone call or one mouse click
- customers are more demanding, expecting their needs to be met quickly
- suppliers can improve their relationship with their customers through Customer Relationship Management (CRM).
This case study shows how Royal & SunAlliance, one of the UK’s largest commercial insurance companies, has successfully applied the principles outlined above to provide business-related (‘commercial’) insurance through Insurance Brokers to small businesses.