IT company, Cap Gemini, along with Sun Microsystems, Oracle and KiQ, has launched Omega+, a customer data management tool.
Omega+ enables insurers to extract customer information, and then use it to predict future behaviour and needs.
Cap Gemini claims one area where the technology will be effective is developing cross-selling campaigns.
Lee Brooke-Pearce of Cap Gemini's insurance sector said: "Insurers need tools to help them establish who their most valuable customers are and predict what and when they want to buy."
Recent Cap Gemini research claimed that the number of insurers embarking on data warehousing initiatives would rise by more than 50% in the next two years.