In fact, this study showed that 65% of people who switched from Traveler’s Insurance in 2013 never had direct contact with an agent, while 80% of those who stayed did. In a recent report from the Database Marketing Institute, the customer–agent relationship was the most determining factors in whether or not a shopper left a current agent. What Customer Relationship Functionalities are Specific to Insurance?
By investing in automated insurance CRM software for lead generation, policy tracking, and application processing, insurance agencies can eliminate paperwork and refocus their attention on communication with customers. Insurance companies must have new, better ways to provide the ultimate service package to customers if they are going to attract competing business, retain their wandering customers, and keep their prices competitive with subsidized government insurance programs.
This means that the customer service experience needs to be flawless, including easy–to–complete registration forms, accurate lead generation tools, and data–driven follow–up email campaigns. In addition, according to a PwC report called “Top Insurance Industry Issues in 2013”, loyalty to a single insurance company is slipping as more customers “shop out” their insurance policies. Unless the sales and qualification process is simplified, these outside pressures can make it difficult for an insurance agency to compete. In addition, new players are entering the market daily, competing for these same customers through giant ad campaigns, multi–million dollar websites, and call centers across the nation. This has meant a huge shift in the way that they do business. Instead of dealing with brokerages and big–ticket underwriters with thousands of agents to find and close business, insurance companies are dealing more and more with individual customers. The insurance industry is becoming incredibly competitive. What CRM Needs does the insurance industry have that make it different from a regular CRM? In addition, you’ll want to find out what kind of customer service features a CRM should provide, as well as some key questions to consider when you are deciding which platform is right for your company. To make the right decision, though, it is vital to know how insurance CRM programs differ from other types of CRM products. What’s more, the best CRM software solutions allow agencies to track their employees’ activities, set up and manage marketing campaigns, and seamlessly integrate with industry–specific software.Īn agency can save time and money by choosing an excellent CRM software specifically designed with the insurance industry in mind. Insurance CRM software can create a more communicative atmosphere within a business as well as foster positive agent–to–client interaction. Many agencies are turning to Customer Relationship Management (CRM) software for insurance companies to meet these needs. Insurance agents must maintain the confidence of potential clients through a clear registration process, orderly document management, and thorough communication.
Your customers and clients need to be able to trust that your agency can protect them if something happens to their health or their property. Get fast adoption to an insurance focused CRM system built into Outlook