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11 Most Recommended Features Every Insurance CRM Must Possess

Features of insurance CRM

What are the most recommended features every insurance CRM must have to make their business processes smooth and effective? What are the benefits of this CRM software to the insurance industry? And how can you make them work for you?

The role CRM plays in the insurance industry in shaping business processes can’t be overemphasized. CRM software has grown in the past few years and more and more companies are now beginning to adopt them.

Why Does Your Insurance Company Need CRM Software?

The primary role of insurance CRM is to help insurance providers to handle large amounts of data, locate prospects, and nurture and easily convert them to paying customers. Having reliable customer relationship management software in insurance will help to distinguish your brand from your competitors. Below are the advantages of using CRM software in an insurance company.

3 Major Benefits of Using CRM in Your Insurance Company

Before we discuss the various features of a good insurance CRM, let talk about the benefits:

1. Higher Efficiency

By centralizing all of the important customer-related data and automating communication efforts, your insurance company can quickly observe higher levels of efficiency. Moreover, with less manual document processing, your agents won’t waste time on sorting papers and can focus on high-value tasks like one-to-one contact with clients.

2. Reliable Sales Insights

A CRM solution usually comes with useful analytical and report-generating features. They can help you predict performance and take proactive action when falling short on the needed KPIs.

3. Better Customer Service

With a CRM, your team will be able to personalize interactions with customers and offer unprecedented levels of customer care. Things will stop falling through the cracks, messages will always be answered, and clients will appreciate that.

Top Features of a Good Insurance CRM Software

1. Insurance CRM must be able to organize databases

Some key insurance CRM databases that need to be organized together and harnessed are contacts, orders, transactions, previous interactions, policy details, claim requests, etc. This is one of the most fundamental features of an insurance CRM that helps insurers to save time.

2. Generate automated reports in a click

Would you like to minimize human errors while at the same time getting specific reports about your insurance company on a regular basis? If yes, get a good insurance CRM. A reliable tool like this can help you make faster and more strategic decisions. 

3. Integration of Correspondences

CRM integrates various correspondences. It performs the function of assigning the task, reporting, and analysis of actions related to correspondence. Using your insurance CRM system, you can enable mass address mailing.

4. Social Network Analysis is one of the most amazing features of insurance CRM

The CRM performs the function of calculating orders, reviews, likes, shares, and other activities on the companies’ social media pages. It enables insurers to get a better understanding of their customers and also helps in detecting organized claims fraud.

5. Device Synchronization

The CRM for insurance agents enables insurance providers to sync the functionality on multiple devices such as smartphones or tablets. It allows users to have access to updated customer information from any compatible device.

6. Calendar Notification

CRM can be configured to notify the agents about upcoming meetings, events, and essential tasks. Users can schedule meetings or calls and set automated reminders and notifications concerning upcoming events or tasks.

7. Lead Distribution

The best CRM for insurance agency management classifies the clients in the database on the basis of their actions. It helps classify the hot leads, cold leads, and Ready to Buy customers.

8. Policy Management

The CRM system allows agents to manage client policies on,. one platform. With a CRM system, you can send an automated notification on policy renewal dates, and enables cross-sell and up-sell capabilities.

9. Swift Calling

A good CRM has an inbuilt feature that allows insurance agents to call the client directly from the application. This saves the time and efforts of the insurers.

10. Commission Calculation

CRM calculates the commission received and pending from insurance companies. This function helps agents and brokers in computing and arranging taxes.

11. Mobile-friendliness

Lastly, it’s essential that your solution is mobile-friendly. Mobile apps are only growing in popularity, and the chances are high that your agents are often on the go, but with smartphones in their pockets.

Thus, implementing a CRM that has the same functionality on a mobile phone as on the web, is of utmost importance for the long-term success of your insurance company.

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Emenike Emmanuel is a multiple award-winning blogger, CEO of Entrepreneur Business Blog, Chief Evangelist of Ebusinessroom Ventures, and the Lead Coach of an online community of over 12,000 business owners called, The Excellent Entrepreneurs' Network. He’s here to help you start, manage and grow a profitable and sustainable business using digital marketing strategies. Follow him on Facebook, Twitter, Instagram, LinkedIn & Pinterest with this handle, @emenikeng. Telegram group - t.me/yourfirst1000 | Email: [email protected]


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