Why ‘CRM for Insurance’ is need of an hour?

Top 4 challenges faced by Insurance salespersons

1. Waste of time due to repetitive work

In a multi-product insurance company, a team of insurance salespersons has to handle various tasks like capturing of leads via sources like ads, referrals and other marketing initiatives and then go through end to end process from prospecting to final closing negotiation for all those leads. They also have to take care of claims and preparing and mailing all the paper work like policy applications related to each customer.

Also the follow-up with existing customers for renewals and setting up meetings.

Imagine maintaining all this on excel sheets.

So, basically the insurance salespersons have to waste a lot of time on repetitive tasks that don’t add any new value to their company or customers.

2. Missed opportunities to attract new customers

Due to the above mentioned repetitive work, salespersons don’t get enough time to attract new customers or retain and get more business out of existing customers, which results in decrease in revenue generation.

3. Ignorance and reluctance among customers

Many customers are still ignorant about the importance of having an insurance policy. Also they are not aware about various options available and authenticity of those options.

The generation of millennials is main focus for insurance firms. Millennials want personalized offers and expect engagement across multiple channels like social media, emails. If the expectations are not matched, they are reluctant to buy policies from those firms.

4. Huge competition in the industry

There is enormous competition in insurance industry thanks to emergence of new players and continuous technological advancements. So it’s a big challenge to stand out among them and deliver best experience right from the start through various channels.

The answer to all above challenges is Unified Insurance CRM .