Guide: CRM Strategies for Insurance Companies

Guide: CRM Strategies for Insurance Companies

Insurance agencies today, more than ever, have the difficult task of reinventing themselves and reaching more customers. To improve performance, you need to apply CRM strategies for insurers that promise to perform well throughout the newly arrived 2021.

The first thing to consider is that Customer Relationship Management software is positioned as one of the best tools to optimize insurance agents’ work and ensure customer satisfaction.

CRM programs, which only require a simple installation in the company’s digital system or access to the platform, can compact in one place the tasks that, in the past, required more than two applications.

As a result, they improve service times, automate actions, and adapt perfectly to Voice over Internet Protocol (VoIP) technology.

In this context, the best decision you can make is to apply the right CRM strategies to optimize your insurance agency’s internal operations, sales, and overall company performance results. Sentry tells you some of the ways to adapt your strategy to CRM.

The 2021 CRM strategies for insurance companies

CRMs have the advantage of adapting seamlessly to the digital marketing plans that the insurance agency has developed. However, when there is no solid foundation of studied market objectives and goals to be achieved, CRM is just another tool that is not used to its full capacity.

It is a tool that helps to completely reformulate the entire concept of internal and external communication of the company. It promotes the study of different types of customers, direct contact between personnel in all positions, the segmentation of functions, and even the organization of information at all levels.

Today we present the best CRM strategies that you can apply to get the most out of the software and take the necessary steps to increase positive results.

Planning objectives

To formulate CRM strategies, the first step to take is the organization of fundamentals that will help shape your strategic plan in the right direction and foster successful business growth.

  • Clear goals: Determine what you want to achieve in the short, medium, and long term within the insurance market in your location: Increase the number of customers? Surpass the reputation of competing insurers? Being clear about why you want to take action is the first step in designing a CRM strategy.
  • Market to impact: Whether you are a provider of a specific type of insurance or a diverse offering, you need to define your target market to study the preferences, trends, and platforms they use and where they can be reached.
  • Prioritizing customer service: From the outset, the vision of providing excellent and comprehensive care to regular and potential policyholders is vital. From training employees to hiring a CRM that provides all the options to meet the needs of customers.

Market research and execution

Once the objectives have been defined and goals have been set, insurance marketing professionals can conduct market research and develop various CRM strategies. These can be focused on increasing online reputation or the agency’s visibility on social networks.

In all cases, CRM strategies are executed in phases so that the results are visible and measurable with the tools. In the first phase, the aim is to confirm whether the chosen path can solve the problems or weaknesses identified, then diagnose the strategy’s effectiveness, and determine whether it fits in with the company’s general plans and, if not, to remedy the situation.

The next step is the application of the filtered and studied methods. These methods must be appropriately monitored and tested to reach the specific objectives set out in the CRM strategy.

Hire the most complete CRM

An important point to consider is the type of CRM you are using in your agency. One of the best alternatives on the market today is the CRM we offer at Sentry since it has a good variety of functions that adapt to the marketing and customer service strategy you have decided to implement.

With support, guaranteed insurance, adaptability to VoIP system, one-click calling, data organization, and prices according to all types of agencies’ budgets. If you have a software that does not cover all your needs, we teach you how to migrate CRM from one to another without losing the information.

There is no doubt that CRM is a powerful weapon to boost sales since it improves interaction with customers, and therefore designing strategies to make the most of its tools is a no-brainer. However, this method must be in line with the insurance agency’s commercial organization.

Once you know how to arrive at correct and effective CRM strategies, you have to get to the action, take advantage of the 2021 trends to boost your insurance agency in the local and international market, and capture your target customers. 

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