What is a CRM for insurance agents ?

CRM stands for Customer Relationship Management. CRM is a technology for managing all the relationships and interactions of your business with potential customers.The objective is simply to improve business relationships.

An insurance CRM is a solution that responds to the unique needs of insurance Agents, brokers and other insurance providers. It organises all your leads and claims, automate assignments to the right people, and manage multiple policies at one place.

Most of big companies including Amazon, Apple, and Coca-Cola are examples of companies taking advantage of CRM and making consumers data work for them.

There are three major types of CRMs

  • Collaborative
  • Operational
  • Analytical

You must know how the three types of CRM differ, and how to pick the right product for your business.

Collaborative CRM ensure that all teams have access to the same up-to-date client data, regardless of the department or channel in which they operate.
Integration between services and channels allows customers to avoid the dreaded experience of repeating themselves whenever they talk to a new contact.

Operational CRM systems typically offer automation capabilities. The automation of marketing, sales and services relieved a portion of the work that your employees would otherwise have to do. It opens up their schedules to the most creative, personal aspects of their work that need a human touch.

Analytical CRM provides capabilities that help you use the data of your clients you have to see trends in the behavior of your customers. With this information, you can better understand which steps lead to the most successful sales, what increases customer retention, and what are the most common customer issues.


What should you look for in CRM for insurance agents?

Modern insurance companies emphasize the satisfaction of the growing demands of technophile customers, and hence the importance of automated data collection and processing has become increasingly important. This creates the need for insurance CRM for insurance agents which performs all such task easily. Insurance CRM streamlines the work of insurance providers / agents and enables them to handle a large amount of data, identify prospects, and seamlessly convert them into customers.

Unique Dashboard : The unique dashboard view facilitates quick and comfortable use of all features by agents. It provides a comprehensive view of processes and improves productivity.

Automated Reports : One of the most important featuer of Insurance CRM system is that it can prepare specific reports on a regular basis, with minimal human input and reduced risk of errors enabling faster, strategic decision-making . Do check this feature before going for any Insurance CRM.

Communications & Correspondences : Check how effeciently the choosen insurance CRM integrates various communications. Does It performs the task assignment, reporting and measurement analysis functions related to correspondence ?

Notification : One of the most important featuer of a good Insurance CRM is its notification section. Check if the CRM can be configured to notify the agents about upcoming essential tasks.

Policy Management : A good insurance CRM system allows agents to manage all types (Health , Life, Motor, GI and others) of client policies at one platform. It should send an automated notification on policy renewal / expiry / maturity dates, and enables cross-sell and up-sell capabilities.

Easy Calling : A good CRM has built-in functionality that lets insurance agents call the client directly from the application saving a lot of time of the Agent.

Commission Management : Managing commission is just as important as other features in any insurance CRM. At the end of the day, one of the main goals of an insurance agent and agency is to ensure that they receive their commissions and retain their clients.

User Interface : Finally, the intuitive user interface is one of the most important features.


Need of CRM for insurance Agents

CRM software has become increasingly important for insurance agents worldwide over the past decade. The use of CRM software by insurance agents and brokers assists them in effectively managing and accessing customer information. They don’t have to search for printed documents or records which saves a lot of time. It cannot be denied that customer satisfaction is very important to any insurance company which can easily achieved if the company uses a suitable and rugged insurance CRM software.

So to track Insurance leads, manage multiple policies of clients, policy sales analytics, workflow automation and proper comunication with the customers, you must use a good CRM for insurance agents.


Which is the best CRM for insurance Agents ?

There are many insurance CRMs in the market the most popular ones being Salesforce, Zoho CRM, Microsoft Dynamics CRM, Oracle CRM. It is really difficult to say which CRM is the best CRM for insurance agents. It totally depends on the usages and the price you pay for the CRM. A lot of features have been developed and incorporated in these CRMs but its upto you as how many features you are going to use. In my opinion large insurance companies can go for any of the above mentioned CRMs but specially insurance agents with low volume of clients can search for a CRM with important features and for a less price.

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    Why TaraCRM is liked by indian insurance Agents ?

    TaraCRM is a solution that addresses the specific needs of insurance agents. It helps in organising all your contacts, automates task assignments, and manages multiple types of policies in a single system. It helps you close deals faster and build a persistent relationship with your contacts. If you are striving hard for better customer experience you can check TaraCRM. It has most of the important features and most importantly at a very low cost. If you want you can give it a try.

    Listed below are some of the important features of TaraCRM which makes it one of the best crm for insurance agents

  • Easy Task Management
  • TaraCRM for insurance agents organizes and categorizes your work. Recurring tasks are automatically assigned by TaraCRM. Tasks are automatically assigned to Policy Manager when the policy is due for renewal. You can also add comments to the task and be notified when comments are added .

  • Lead Management
  • Data is an important resource for moving your business forward. With this in mind, TaraCRM is designed to help insurance agents collect data easily and quickly. TaraCRM helps you filter lead data and transfer potential business opportunities to your sales team.

  • Track Funds Collected from Clients
  • The funds collectedfrom the client need to be properly managed. Tracking collections and their usage can be very difficult, especially if the volume is large. TaraCRM makes this task much easier. Insurance agents can get all the details of the collection and its usage at the click of a button.

  • Easy communication
  • We understand that Phone and face to face customer interaction have become obsolete. Customers prefer to communicate through web and mobile applications. TaraCRM gives the organization the flexibility to contact the customer through these touch points.

  • Multiple Policies Management
  • TaraCRM makes it easy to manage customer data for multiple policies on one platform. This helps insurance agents organize policyholders and get a complete picture of all of the client's various insurance policies.

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