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5 benefits of using a CRM for insurance sales


Insurance crm software

Insurance sales is a very competitive arena. In this industry, more than others, you need to personally know your prospects and their needs. Customers are now more informed about the insurance options available to them. Despite your best intentions, if you are in insurance today, you need a CRM for insurance sales to increase your sales potential. But, how can you stay ahead of the game and make yourself valuable to your prospects? Well, first and foremost, by making yourself more valuable to you; that is by ensuring that you enhance your business offering and that you stay current with tech developments.

Core to your sales efficiency and productivity, is your selection of an Insurance CRM. The number of available options does not help. Still, no insurance agent has gone back to “paper days”, after starting to use an insurance CRM. They might have switched to a more suitable one, true; but no insurance agent has gone back to the rolodex, after using a CRM. Let’s go over the benefits of using a CRM for insurance sales.

1. Customer understanding


Insurance sales is a high-touch business; and requires 360° awareness about your prospects. Part of that has to do with maintaining a codified log of your communication with your prospect. That’s, so as to recognize any buying signals and identify selling opportunities. As an agent, you need to understand where your prospect is coming from, what their needs are, what their expectations are; and then prepare a sale proposition suitable for them.

There is a myth that Facebook, Twitter or text messages can sell insurance. Only people can sell insurance. However, when you configure your CRM for insurance sales, you build a better customer understanding; which leads to a higher conversion rate. These tools, when used creatively, like integrating them with your insurance CRM, can leave you better prepared to understand your customers; and boost your insurance sales. Once you get a better understanding of your prospects, you’re better positioned to identify sales opportunities; as well as manage opportunities more efficiently.

2. Targeted messaging


Prospects live individual lives and face individual needs and challenges. You should personalize your sales messaging, based on your research on them, so as to entice them to your proposition. Maintaining a diligently updated CRM is very important, because you need all the information you can get on your prospects. Identify how to best organize your information, so that you can maximize the effectiveness of your message. A message that resonates with your prospect is a message that gets you closer to a deal.

Trying to create a targeted message, is something that is built with time and experience. Messages and techniques that have worked in the past can be further fine-tuned, in order to target future prospects. As a professional, you need to constantly re-evaluate the metrics of your messages and ensure that you maintain a high conversion rate. A message can be communicated over different channels, e.g. social media or text. So, you need to keep metrics and compare. A CRM for insurance sales organizes and presents data in such a way that leads to a better understanding of customers; and, thus, to improved messaging.


3. CRM Improves Your Customer Service


Since we agreed that Insurance sales is a high-touch industry, you should hire a CRM for insurance sales that helps you do exactly that; stay in-touch. Today’s CRMs offer sophisticated features to nurture your prospects and identify when and how to proceed. How do you do that? Well, there are tools for just about everything. You can build your onboarding process that matches certain criteria and accommodates your preferred nurturing strategy. Moreover, by combining all communication channels in a single platform, you ensure that you will not miss any important text or email. Most important to you, is to better identify and know your prospect’s preferences; such as channel of communication, language and more. This process eventually leads you to better serve the needs of your clients and prepares you for the next issue; which is repeat business.


4. Repeat Business with a CRM for insurance sales


The most economic sale, from a marketing and effort perspective, is the repeat sale to an existing customer. Insurance professionals know that better than most; and they try to never lose an existing customer. Your CRM for insurance sales helps you identify both repeat sales and opportunities for up-selling or cross-selling. By working from a high vantage point and utilizing your CRM's features, you spot your prospect’s upcoming needs before they even realize they are in need.


5. Automation of Everyday Tasks


Simply put, the more tasks you automate, the more time is left to you to pursue your sales goals. There are no two ways about it. Insurance agents enjoy CRMs that offer various degrees of task automation. That is, various ways to save time from mundane tasks and allocate it on high-value tasks; the ones that take you closer to a deal. When you go shopping for a CRM for insurance sales, make sure that it offers enhanced automation features.


Key takeaways


As an insurance agent, your CRM has become an increasingly important tool over the last 5 years. The Insurance industry is a very competitive field and has its own goals and needs. You need to stay ahead of the pack and ensure that you understand your prospects correctly and serve them efficiently. A CRM for insurance sales is as good as you make it to be. It will not sell insurance by itself, but it is an effort-multiplier that you can use to nurture your prospect; and also provide superb customer service to your clients.



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