5 Reasons Insurance Companies Should Be Using Salesforce
When it comes to the insurance industry, having a great management system software in place is vital.
When looking for the best insurance management software it should provide a solution for some common issues such as; workflow overload, time management, reporting inaccuracy, and customer database limitations.
What is Salesforce?
Salesforce is a Customer Relationship Management System (also known as CRM).
Inside this platform - sales, marketing, service, and commerce departments have a shared view of the entire customer system.
What does that mean? It means time savings, money savings, improved customer service and more.
Top 5 Reasons Insurance Companies Should Be Using Salesforce
1. Streamlined Information
All businesses have departments but you don’t have to segment everything. By dividing your business and not keeping it all in one place - you could be setting yourself up for a myriad of problems. Miscommunication, loss of data, wasted time are just a few cons to not having your data streamlined.
Through Salesforce, you can merge almost every aspect of your business from sales to marketing to customer service and even accounting into one system.
Track conversations with customers, whether they’re still flowing through the sales journey or if they’ve emailed you questions about their policies. Map emails and other communications right the policy, company, or contact levels for maintaining E&O compliance.
2. Enhanced Communication
If you’re looking for a way to enhance your communication with both your customers and your team members, Salesforce offers that and more.
Salesforce allows you to communicate with your customers by processing claims right within the Salesforce interface.
Using Salesforce Cases, claims management and all the policy data plus customer information are all accessible by your team in one place.
Agencies have begun integrating their policy database and their claims management to give their team the information they need in a timely manner, without the fragmentation.
Chat with your team using Salesforce Chatter. It’s a simple way to communicate with one another, tag posts, tag team members, and even celebrate victories.
3. Improved Customer Service
With Salesforce, customer service couldn’t be better.
You can use it to connect data, add personalization, and keep customer files up to date. Track renewal dates, birthdays, conversations, and use this data to send templated emails straight out of your inbox.
4. Accurate Tracking and Reporting
Being able to track and report accurately is critical to the success of any business and the insurance industry is no exception.
Through Salesforce, you can measure your KPI’s, set goals and forecast your future growth.
Common agency dashboard metrics might include current active policies, annual premium total, a performance by sales channel, policies up for renewal, sales pipeline, claims metrics, and much more!
Salesforce provides a great article to help you get started. You can find it here.
5. Automated Routine Tasks
Through automation features offered in Salesforce, you can reduce your operation costs, diminish some of your workload stress and even set up an automated reminder system during multi-step workflows to keep your team on track.
Automations like sending out an automated email to policies up for renewal, notifying reps that their client submitted a claim, or automating field updates as the reps work through the sales pipeline have helped agencies save countless hours.
HipTen is the only Salesforce Partner that focuses exclusively on insurance. You can book a free consultation to discover how much time and money Salesforce can save for you here.
A lot of companies spend a good amount of time and budget on customer acquisition but fall short on retention. Without customer retention, businesses can’t sustain.
Putting customer service at the forefront from the beginning stages to the aftercare is critical. This is where having a solid CRM system in place becomes not just a luxury but a necessity.