Ten CRM Saves for Insurance Firms of all Sizes

Data Analytics

One of the biggest challenges for an Insurance business scoping CRM software is getting behind the headlines and working out how it will provide customer knowledge and marketing opportunities.

CRM is indeed the launch pad for digital transformation and yes, it does bring collaboration, communication and efficiency. Likewise, it does make light work of managing campaigns, sales opportunities and customer management. It also does indeed improve customer service, increase trust and can enable growth. And yes, all whilst providing the board and your teams with dashboard reporting that helps you identify yet more opportunity.

But, at a granular level, what does any of that mean? What are the departmental headlines for adding to the likes of OGI and marketing platforms?

Here’s just a small selection of some of the ways it has helped our insurance and broker clients:

  1. Eradicating data duplication – with departments often having their own silos of information, one customer’s data could be held in over three separate locations but without knowing what knowledge is sitting elsewhere. There are negative GDPR, cross-sell, upsell and compliance consequences. On the flip side, a single customer view allows you to use customer knowledge from across the business to grow without further recruitment, to meet GDPR requirements, to syphon out unwanted prospects and to make sure all marketing messages are entirely relevant to those receiving them.
  1. Improving channel relationship management – Insurance relationships can be multi-layered so it’s critical to be able to identify the complex ones and manage them appropriately, whether that’s through more careful messaging or a key customer programme.
  1. Improving customer conversations – When each department is looking at the same single customer view, they have a full picture of that business’ or individual’s relationship with the company. Every conversation is informed and followed up on which means no red faces, fewer errors and better opportunity creation and handling, meaning retention and growth.
  1. Making marketing more effective and helping sales to convert opportunities – Segmentation improves marketing results and a single customer view where knowledge of a customer is added to with every interaction is step one. Microsoft Dynamics 365 goes beyond that with MailChimp integration and an in-depth view of campaigns and activities for better understanding of success ratios as well as white space analysis. When sales know how a lead arrived, it’s much easier to understand their prospect’s requirements and mindset making the pipeline view so much more meaningful.
  1. More efficient and secure operations – No business can grow smoothly whilst information and administration is in disparate systems. Having a central platform for the business not only brings more customer knowledge and better upsell, it helps communication and action to flow much more easily. Documents are stored centrally and everyone has access to the task lists they need to progress their department.
  1. Reinforced compliance – With better business process flows and a clearer approach for GDPR and data, it is easier to meet compliance regulations. Claims benefit too with succinct audit trails as well as a 360-degree view of the client.
  1. Better reporting – Every organisation has a goldmine of insight amongst its systems but it’s not useful unless it can be surfaced meaningfully. What is true of one department as it stands alone, may alter when you consider the facts from another. With CRM (and particularly with Dynamics 365 because that’s where our expertise lies), management reports are vivid, clear and massively insightful.
  1. Talent retention – Good customer service representatives are like gold-dust and need to be kept. Working with a CRM system (if it’s the right one for your business) removes a lot of the daily task frustration that can mount up. It can also help each departmental team to see its role in the wider business ecosystem. User adoption is key but once you have it, your CRM can succeed. With Dynamics 365 Talent App, there are also fantastic ways to manage recruitment, onboarding and career progression.
  1. Better Business Insight – CRM allows you to see the patterns at play in your organisation and to identify areas of future growth. It allows you to see the opportunity that has perhaps hidden itself up until now because you didn’t have the data to show itself. By analysing customer history, profile and behaviours information, you can better understand future requirements and prepare accordingly.
  1. Automation of routine tasks – Back when CRM first started, this was at the crux of it. And it has evolved to a level of sophistication that reflects the digital age we’re now in. As with all digital technology, the basic rule remains. Get the basics working well then you have your pathway to the bigger transformations such as AI, Chatbots and self-service.


Are you currently scoping your CRM project or looking for tips on how to kick start your CRM strategy? Watch our 8 step webinar series which will guide you through the entire journey of implementing a new CRM system. From covering the basics of what a CRM system does, all the way to choosing a partner and scoping your business case.

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