3CMJames Clements Municipal Airport, Bay City, Michigan, USA (Airport Code)
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Despite the perceived importance, the high availability of solutions in the marketplace, and the significant level of IT spending, there really are only a few insurers that have implemented strategies across the enterprise to coordinate and manage 3CM.
The journey ahead offers powerful business impact and significant competitive advantage for those insurers able to harness 3CM capabilities to drive growth, rather than just cut cost.
Business Drivers for IT Investment in 3CM Improve customer service 68% Better understand customer/market needs 61% Improve retention 51% Reduce costs 37% Improve claim service 32% Proactively cross-sell and up-sell 28% Reduce claim severities 16% Ensure consistent branding 15% Reduce floor space for document storage 5% Note: Table made from bar graph.