Posts Tagged ‘Customer Relationship Management for Insurance Agents and Brokers’

Make Your Company Customer-Centric with CRM for Insurance

September 9th, 2013 Ashley Harbaugh No comments

Putting the customer first is important for any industry, but nowhere is that concept more crucial than for insurance agents, brokers, and customer service representatives.

With technologically connected consumers able to access and research competitors with just a few clicks of their smartphones, customers have access to a plethora of different options. Armed with this information, consumers are going to companies where they feel they get the most value – and also where they feel most valued. 

According to a report by the PwC titled “Top Insurance Industry Issues in 2013”, policy shopping and switching behavior is rising. Shoppers increased from 27 to 33% of total insurance customers between 2009 and 2011. Out of the people who shopped, switchers also increased from 37 to 39% (10 to 13% of all customers) from 2010 to 2011.  

While price is a significant factor for shoppers, the customers who are the most price-sensitive and willing to switch for any discount are not your most profitable segment.

But the customers who value brand and policyholder experience, who are basing their shopping evaluations on the customer experience that an insurance company offers, are highly valuable to attract and retain. 

By optimizing the customer experience, you make your mark as a company that truly listens to your customers and helps them get what they need – a crucial differentiator that persuades an unhappy shopper to move, and gets your current customers to stay. 

With CRM for Insurance, you are able to effectively manage customer data and track your team members’ engagement with customers, which allows you to provide comprehensive, efficient service at all times.

Centralized Policyholder Information

When a customer contacts your company with a question about their policy, or to make a claim, or to inquire about new services, it’s important for any agent or service representative to be able to interact knowledgeably.

With CRM for Insurance serving as a central repository for all customer data, you equip your team members with complete access to a customer’s account, including customer profile and history, relationships, support records, etc. Data can also be shared across departments, product lines, channels, and intermediaries. With this information, representatives are able to better understand a customer’s needs and preferences, allowing them to more adeptly communicate with the customer and thus increase client confidence.

Information on prospective accounts is also captured so that even if a customer does not accept an initial quote or move to policy origination, you can keep them in your database as a lead and contact them again. Or, if they choose to contact your company again at a future date, the fact that you have a complete record of your past interactions, and that you can refer to those previous inquiries in the current conversation, signals close attention to the person’s needs.

Centralized Policyholder Information

By having complete access to a customer’s account information, agents and service representatives are able to better understand the needs and preferences of a customer, and thus interact with them more effectively.

Consistent Levels of Customer Response

Nothing is more frustrating to a customer than working with an attentive, focused agent or service representative in one instance, and then having to work with a less attentive representative in the next instance.

To ensure that customers get the same level of customer response across your organization, using CRM for Insurance to create workflows that trigger when a person reaches out to a representative is a helpful way to get your team all on the same page.

For example, creating phone script dialog workflows that service reps can follow when a customer calls in is an important way for reps to handle first contact response quickly and thoroughly. Without a workflow in place, it can be easy for reps to miss an important step, or an important question – which can cause a potentially negative future impact on your relationship with the prospect or customer.

Consistent Levels of Customer Response

With phone script dialog workflows, your service reps are able to improve first contact response and ensure that the customer’s questions or issues are addressed and resolved satisfactorily.

Knowledge Base for Quicker Resolutions

With CRM for Insurance, not only do your representatives have a comprehensive database of customer and prospect information at their fingertips, but they also have access to all troubleshooting guides, data sheets, etc. that your company has available.

The Knowledge Base functionality in CRM for Insurance enables your agents and service reps to find the documents that are most relevant for serving the customer at hand. The ability to quickly locate information that is most applicable to a customer’s specific issue saves representatives crucial time and energy, leading to quicker issue resolution and a happy customer. The Knowledge Base can also provide suggestions on which documents would be most helpful for tackling the particular customer query that you’re working on.

Knowledge Base for Quicker Resolutions

The Knowledge Base is an important repository of information for your organization. Able to contain documents such as troubleshooting guides, frequently asked questions manuals, and other documentation on policies, etc., and able to be accessed by any of your team members, the Knowledge Base is an important way to speed up first contact response.

Taking the Customer-Centric Approach

By better equipping agents, brokers, and service representatives to improve the customer experience, insurance companies reduce operating costs and benefit from higher levels of customer satisfaction – which translates to higher customer retention rates and new potential customers. By implementing a well-defined and executed customer relationship strategy, organizations are able to turn their focus to developing other initiatives that impact costs, premiums, new business, and renewal rates.

For more information on how Ignify can help improve your customer relationship management processes, please email us at

Ashley Harbaugh is a Product Marketing Specialist at Ignify. Ignify is a technology provider of CRMeCommerce and ERP, software solutions to businesses and public sector organizations. Ignify has won the worldwide Microsoft Partner of the Year Award in 2013, 2012 and 2011. Ignify has been included as the fastest growing business in North America for 7 years in a row by Deloitte, Inc. Magazine and Entrepreneur Magazine from 2007 to 2013.