CRM for insurance

An insurance CRM is designed to optimize the management of the workflow from the acquisition of prospects to the closing of the sale, as well as the management and follow-up for the renewal of insurance policies. CRM for insurance makes it easier to build good relationships with policyholders and improve customer retention

How is the sale of insurance?

Selling insurance is unlike selling any other type of product or service: Buyers can't see, touch, or feel it, and you're selling to their fears.

The sale of insurance depends largely on the ability of the insurance broker to convert these buyers and commercial consumers who are often highly skeptical.
In this industry insurance brokers have the opportunity to lead sales thanks to their academic background, the use of technologies to manage sales such as a CRM for insurance, and the experience gained in this profession, thus building a good relationship for gaining the trust of these buyers.

Finally, insurance brokers face challenges like increasing competition, disruptive new technologies, and economic challenges that make it difficult to connect with their buyers. Given this scenario, the sales strategy that they must apply is constantly evolving. New companies and technologies are revolutionizing the way consumers shop for insurance products and insurance brokers play a key role in differentiating themselves from their competition.

What do the insurance sales agent and broker do?

According to the type of insurance policy, the client will hire, brokers and insurance agents carry out different types of procedures to reach a sale or renew it. For example, Agents and brokers who sell life insurance are experts at promoting plans that pay out to beneficiaries after the policyholder's death. Others sell annuities that guarantee a retirement income. For their part, health and long-term care insurance agents and sellers offer plans that cover assisted living costs and health care for seniors. In addition to short and long-term disability insurance, they may also sell dental insurance :-).

There are many activities to be carried out to manage insurance, however, among the management activities they carry out we can mention as main ones:

To call potential customers to expand your customer base.
Interview potential clients to obtain data on their financial resources and analyze existing coverages.
Explain the characteristics of the different policies.
Review clients' current insurance policies and suggest additions or changes.
Perform administrative tasks, such as record keeping and managing policy renewals.
Help policyholders settle claims.

Many insurance advisors spend a lot of time marketing their services and building their own client base. They do this in a number of ways, such as making "cold" sales calls to people who are not current customers. They also find new customers through referrals from current customers.

Faced with this situation, maintaining order and a schedule so as not to lose track is one of the keys to success, which is we present a tool that can help insurance brokers and agents make the most of their potential through the CRM for insurance.

What is a CRM for insurance?

A customer relationship management software for insurance is a system that automates and simplifies insurance operations, from generating leads (through the various stages of the business process) to closing deals. the sale.

Maintains all the customer information organized with your digitized documentation. It automates manual processes and report generation and above all so the insurance agent can focus primarily on sales.

Timely reminders for customers to renew their contracts.

Automatic follow-ups are very helpful when it comes to helping clients renew their insurance policies. Automate this process more effectively with a CRM for insurance. Remind your customers of important deadlines and reduce the chance of lost revenue.

Customer service and loyalty

Increase the degree of customer satisfaction by offering a service and communication from the channel that the customer prefers (communications by email, telephone, social networks, WhatsApp and live chat) on a single platform. Meet with your customers on the channels they are most familiar with.

Insurance Sales Performance Dashboards and Reports.

Reports on insurance sales, company growth, and policy data give you a complete picture of your insurance operations. Decision-making based on correct data will allow you to make the company's decisions right.

Why are the CRMs important for insurance brokers and agents?

A CRM for insurance is a valuable tool for insurance brokers, as well as insurance-producing agencies, as it allows them to timely track customer contact information and everything related to their policies such as renewals.

Today, insurance brokers and agents use an insurance CRM to increase sales, manage marketing campaigns to attract more policyholders and automate sales workflows. In addition, with CRM for insurance, you can create a personalized sales channel that suits your needs, and use the features to take marketing automation and lead management to the next level.

Process automation and productivity
With workflow automation you will make the sales process as simple as possible, as well as increase agent and sales productivity.

Marketing campaigns and lead generation
Generation of campaigns based on a segmentation of customers and prospects. Direct your marketing actions with relevant and personalized messages according to the consumer to increase sales.

Prospect Management

Generate leads on "autopilot" and offer them multiple ways to get in touch, such as: Virtual agent (Chatbot) with easy-to-use templates to solve "typical" problems of policyholders. It also has a Live Chat and Web Forms.

How does the CRMs work for insurance brokers and agents?

Choosing the right CRM will help an insurance broker to record all the data of a potential client and qualify their needs to make a sale according to what they are requiring.

A good insurance CRM will help insurance companies and agents in:

Create a sales funnel that fits your process and streamline case resolution
Record important customer data such as the type of policy you are requesting, the value of your needs and keep the data organized.
Keep a record and follow-up of the communications and interactions that your clients have had with the agents, be they calls, emails and chats.
Manage the information of the policies, premiums and coverage of the clients and their accounts.
Integrate the CRM with the tools used in your insurance business and create workflow integrations and automations.

An ideal CRM for insurance brokers and agents

Follow-up of sales opportunities and insurance renewal.

Keeping track of each sales case or opportunity is more difficult when relevant information is scattered across multiple locations and systems. This condition increases operational stress and the client could perceive it as an unsatisfactory experience.

A CRM for insurance can effectively track customer interactions, whether it's for claims, renewals, or a new sale.

Ideal CRM for Insurance agents and brokers

You will be able to visualize the stages of the sales process in your funnel, allowing you to see what stage your prospects are in and what action you need to take to move towards closing. Plus, your funnel gives you the information you need to plan follow-up activities, forecast your performance, and spot sales issues early on.

How does an insurance sales funnel work?

For the sale of insurance, the CRM is required to have an intuitive interface to manage transactions in a simple and direct way. Also that lead management allows you to create and customize as many channels as you want to represent your unique sales process. To improve sales dynamics and increase deal rates, CRM should focus on actions insurance marketers need to take.

It uses colored indicators to let you know which leads need your attention and actions that haven't been completed on time. With this sales CRM you will always know which actions have priority. You will clearly identify each contact in the sales funnel, what stage of the process they are in, how long they have been there and what their next step is.

How to keep your customers organized with a CRM for insurance?

Providing a customer experience that builds loyalty is a critical value proposition for insurance agencies today. The longer it takes to serve prospects and process their claims or needs, the more likely it is that the competition will find “fertile ground” to take your client.

The CRM for insurance brokers allows you to respond to customers in record time. All your communications are stored in one place so reps know which clients are assigned to them and when they need to respond to fulfill service contracts and exceed the insurance industry standard.

Integrate CRM with other applications you currently use

With a CRM for insurance, you'll want your sales and customer support team to work alongside other third-party applications. These integrations seek to boost your business and optimize the productivity of agents and brokers.

Some integrations insurance companies use include:

Facebook Messenger

Zapier

Communicate with prospects and clients through WhatsApp integrated into CRM with solutions such as Timeline.ai, Pipechat, and among others. Manage all WhatsApp conversations with your leads from only one location in the CRM

Maximize productivity by unifying all the conversations from your Facebook Messenger into CRM. The integration for Facebook Messenger helps you manage Facebook business communication without switching between apps

Zapier automatically moves information between the CRM and other apps you use every day, so you can focus on your most important work. Zapier allows you to connect with over 3,000 apps and platforms (Instagram, Facebook, Mailchimp, Slack, Google Sheets, Todoist, etc.)

Try Pipedrive CRM for 45 days

* Full access! You do not need to enter your credit card details *

Why choose Pipedrive CRM for your insurance company?

Pipedrive is an easy-to-use CRM that insurance agents and brokers like. With this software, your team will save time and stay focused on activities to generate more sales.

In addition, it gives you all the benefits of a CRM for insurance brokers and agents such as those mentioned above. Among other benefits we can mention:

Simple to learn: You can get going in just three minutes. No prior tech knowledge is essential.
Simple integration: It´s made to integrate easily with other Apps, including social networking, email, WhatsApp, Mailchimp, and more.
Mobile application: When working requires spending time away from the office, all you need to do is grab your phone, start the application, and you'll have all you need in a few clicks.

On your mobile open the App and with a couple of clicks you will have everything you need. Available on Android iOS Systems

How did Pipedrive help a health insurance brokerage streamline its sales process?

German insurance companies Leni, Leon & Luchse used Gmail to manage customer communications. When communication issues got bigger, they looked for a CRM solution to help them.

Using Pipedrive, Leni, Leon & Luchse created a pipeline that tailored to their sales process and simplified tasks, allowing the company to collect important lead data from the first contact.

Read the case study