As normality slowly creeps back into place following the restrictions placed upon us due to COVID-19 over the last 18 months, it’s clear that for many, the reliance upon technology to fulfil aspects of our day to day lives is here to stay.

Whether it’s how we work, how to talk to each other, how we shop or how we bank, there are very few corners of our lives that remain untouched by the rapid digital transformation that has taken place since March 2020.

The influx of Insurers keen to use the latest technology to transform their organisation’s digital approach has also increased over the last year and a half, much in the same way it has for the wider Financial Services sector. A key driver in the desire for digital transformation in these institutions come from a combination of wanting to give customers the best experience possible, whilst also finding ways to create efficiencies and remove complexity internally.

So if you’re thinking about upgrading your CRM driven services and operations, but haven’t yet made the leap or aren’t sure what the benefits are, here are four things that Insurers are doing right now with Microsoft Dynamics 365 and Power Platform to create efficiency and remove complexity for customers and colleagues alike.

Improve the customer experience by creating a single view of the customer, and then use that data to drive efficiency across the business

Obtaining a single view of the customer or broker is an absolute game changer when it comes to driving efficiency and improving the customer experience.

Over time, as your business has grown, data is accrued from various locations – customer services, marketing, sales etc – and kept in various different places. Often we have Insurers approach us asking us if there is a way to unify this data, to bring into the one place.

With Dynamics 365, you can capture the data on customers and keep it in the one CRM system. This data can then be used by various different parts of the business, such as sales or marketing, from the one platform, giving you a single view of the customer.

What’s more, by only capturing data once from the customer, you can improve the customer experience by seeing how they interact with you, and use Dynamics 365 built in reporting and AI tools to get an overview of their historical contacts, and predict what they might be interested in in the future.

Make your sales team more efficient with sophisticated pipeline management

For your sales team, tracking what’s in your sales pipeline is crucial for making note of the progress of selling any products or services. In many organisations, such activity is often tracked using Excel spreadsheets, or perhaps via the use of a CRM that is not connected to any centralised system.

Wouldn’t it be great if you could create efficiency in the sales process by making use not only of existing sales data, but of data generated about customers and opportunities in other places like marketing and customer service? Microsoft Dynamics 365 is built to act as the single source of truth when it comes to customer keeping track of customer interaction, and you can also use it to manage your sales pipeline.

With Dynamics 365 sales, users can create personalised workspaces that are completely optimised for pipeline management. It makes things easier for sale teams because then they call view, manage and execute opportunities in the once space. They can drill down into specific deals, acquire any information they need to move it forward, stay abreast of the latest activities customers have taken with customer service or on marketing campaigns, visualise the progress of deals to create rich reports, and so much more.

No data is left behind with Dynamics 365 Sales, and because your deals pipeline sits at the heart of your sales process, keeping it up to date and easy to access is crucial to sales success.

Using predictive AI to unlock insights on customers and leads

Whilst using the data you have to empower your sales team can be a boon for employees, the real game changer is using predictive AI.

Microsoft Dynamics 365 Sales Insights takes the very same data held on customers, clients, leads and opportunities that is used across the CRM, and combines it with Microsoft AI to get in-depth information that will help improve sales performance. It can also drive efficiencies in the sale process, too.

By automatically scoring leads and grading them based on quality, Sales Insights predicts the likelihood of conversation. It will also provide sales users with action cards which will surface reminds of upcoming activities, and suggest when to reach out to contacts.

Furthermore, Sales Insights can analyse emails and find information that could be relevant to sales conversations or pitches,  giving information on how leads are interacting with emails.

This is just a fraction of what it can do, and Sales Insights is a powerful tool that can really take your sales team to the next level.

Empower employees to take action and create their own efficiencies with the Power Platform

When Lloyd’s of London shutdown their underwriting rooms at the start of the COVID-19 pandemic, organisations had to find a new to operate in a rapidly changing environment. As a result, Beazley turned to us to help them build an app that would allow brokers to view underwriter availability, book meetings, upload documents and view any upcoming appointments with their underwriters.

The result was truly revolutionary for Beazley, and is a brilliant example of how easy it is to create efficiency with the Power Platform. Now brokers are underwriters have access to all the relevant information they need far in advance of their meetings, making their interactions, creating more fluid, efficient and meaningful interactions than ever before.

This only just scratches the surface of what the low code/no code Power Platform can do. Empower employees to create their own apps, create their own efficiencies, and encourage the kind of cross-departmental collaboration that can really take your organisation to the next level.

This is just the tip of the iceberg

The benefit of using Dynamics 365 and the Power Platform? A connected workplace that makes sharing customer data between departments effortless. It frees up time for people to better do their job, creating efficiencies.

A single customer view enhances every single customer’s experience, allowing you to tailor it to their needs. Whether you’re cross-selling or upselling, targeting them with marketing, or simply understanding more about them when they make a claim, you can use data to keep them at the heart of what they do.

Sales people have a greater view of their pipeline and can use AI to unlock insights on past accounts that allow you to approach new opportunities in a way that has proven to work in the past, providing you with a competitive edge.

And you can empower your employees to unleash their own innovation and creativity with the low code/no code Power Platform, opening up a world where time consuming processes can be automated, spreadsheets turned into apps and so much more, reducing complexity across the business.

Don’t just take our word for it, check out our case study on our work with Martin Currie, where we worked together to upgrade their CRM and integrate various Dynamics 365 solutions to remove complexity and create efficiency.

With both Dynamics 365 and Power Platform, there is a myriad of different opportunities to smash data silos, encourage cross departmental collaboration, and truly bring your organisation into a more efficient future. Find out more about how we are empowering intelligent insurance operations here, and get in touch if you’re ready to start your digital transformation journey.