Xchange Inc., a customer relationship management software and service vendor, said yesterday that Lifetime, the Bank of Ireland's bancassurance operation, selected the Xchange 7 CRM solution to help plan, develop and execute targeted customer communication campaigns.
Bank of Ireland Lifetime holds a 12.5 percent share of the Irish life insurance market.
Xchange, Boston, said that Xchange Campaign, a component of the Xchange 7 suite, will let Lifetime capitalize on Ireland's growing life insurance market. Lifetime provides life and pension policies.
Xchange Campaign will help Lifetime gain a single view of each customer across communications channels and better deliver personalized communications to drive profitability and retention. Lifetime also will be able to react quicker to external influences, such as new regulations, and reduce its time to market for new campaigns.
Bank of Ireland expects to improve cross-sell and upsell opportunities, enhance overall customer value and profitability and reduce customer churn.