Lifetime, Bank of Ireland's bancassurance operation, has selected the Xchange 7 customer relationship management solution to help plan, develop and execute targeted customer communications campaigns.
Using Xchange Campaign, a component of the Xchange 7 suite, Lifetime will aim to capitalise on the growing life insurance market in Ireland. The package will be used to gain a single view of each individual customer across communications channels, and better deliver personalised communications.
"Customer retention is crucial to the success of Lifetime," says Quentin Teggin, head of marketing at Lifetime. "It is essential that we can manage customer information and customer relations efficiently and are capable of taking campaigns to market quickly and effectively."
The solution will also enable Lifetime to react more quickly to external influences, such as new regulations, and reduce its time to market for new campaigns, adds Teggin. As a result, Bank of Ireland expects to improve cross-sell and up-sell opportunities, enhance overall customer value and profitability, and reduce customer churn.
The retail bank division of Bank of Ireland is already an established customer of Boston-based Xchange.