Digital CRM for Insurance helps general & life insurance companies enhance customer satisfaction and boost revenues by streamlining processes, improving intermediary management and providing actionable intelligence at front-ends on a single technology platform. As insurance products get more commoditized, customers are being influenced by multiple channels to make their buying decisions.
Advertising efforts are being countered by comparison portals, insurance advisors and corporate alignments. Also, a large share of business is driven through intermediaries where information challenges exist for effective management. Meanwhile companies continue to face stiff revenue targets spread across too many stakeholders who struggle to deal with too many processes, systems and geographies.
Contemporary CRM for insurance companies often have annexed visions due to the complexities involved in creating single repository of actionable data. In such scenarios, most CRM initiatives become departmental in nature, point solutions that quickly become part of the problem.
CRMNEXT’s Cloud Insurance CRM solution, with its advanced integration capabilities is able to streamline processes, implement integrated practices and consolidate data across various systems (underwriting, claims, policy management, etc). It further helps in consolidating partner & customer profiles, manage referrals, new policy issuance, servicing needs and campaign strategies.
CRMNEXT’s CRM software for insurance companies helps in addressing the following challenges:
1. How to effectively collaborate with network of agents and intermediaries to get better visibility of sales processes, reduce cycle times and prevent revenue leaks?
2. How to provide valid, up-to-date intermediary-wise performance data to help relationship managers drive revenues?
3. How to influence corporate buying decisions, while working to forward relationship width?
4. How to ensure optimal service quality to customers & intermediaries, across a multi-source eco-system?
5. How to evolve a complete 360° view of customers along with their policy holdings, risk profile, premium payments, claims history, to judge true value of relationship?
6. How to tap complete household/account potential to offer personalized products as per requirement and propensity using cross-sell/up-sell techniques?
7. How to provide proactive real-time insights into processes for actions, with intelligent reports & dashboards?
8. How to comply with ever changing insurance regulations?
Large and medium sized insurance companies can benefit from a Digital insurance CRM software as it ensures the following:
1. Intermediaries & agents management
2. Strengthened corporate relationships
3. Enhanced Customer experience and satisfaction
4. Improved Joint partner marketing programs
5. Cross-sell/Up-sell opportunities
6. Improved Efficiency, waste reduction
Furthermore, by using the Cloud CRM software for Insurance, companies can create a complete intermediary and customer 360° view, while automating processes across functions like sales, services, marketing and operations. Due to its unique approach and analytical capability it allows companies to progress their relationships, resulting in growth and profitability.