CRM Solution for Insurance

Insurance Edition

CRMnext's insurance solution helps general & life insurance companies enhance customer satisfaction and boost revenues by streamlining processes, improving intermediary management and providing actionable intelligence at front-ends on a single technology platform.

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CRM initiatives at insurance companies often have annexed visions due to the complexities involved in creating a single repository of actionable data. These initiatives become departmental in nature, point solutions that quickly become part of the problem.

Background

  • Insurance products are becoming more commoditized.
  • Customers are being influenced by multiple channels to make their buying   decisions.
  • Advertising efforts are being countered by comparison portals, insurance advisors and corporate alignments.
  • A large share of business is driven through intermediaries where information challenges exist for effective management.
  • Companies continue to face stiff revenue targets spread across too many stakeholders.
  • Stakeholders struggle to deal with too many processes, systems and geographies.

Challenges

  • Effectively collaborate with network of agents and intermediaries to get better visibility of sales processes, reduce cycle times and prevent revenue leaks?
  • How to provide valid, up-to-date intermediary-wise performance data to help relationship managers drive revenues?
  • How to influence corporate buying decisions, while working to forward relationship width?
  • How to ensure optimal service quality to customers & intermediaries, across a multi-source eco-system?
  • How to evolve a complete 360° view of customers along with their policy holdings, risk profile, premium payments, claims history, to judge true value of relationship?
  • How to tap complete household/ account potential to offer personalized products as per requirement and propensity, using cross-sell/ up-sell techniques?
  • How to provide proactive real-time insights into processes for actions, with intelligent reports & dashboards?
  • How to comply with ever changing insurance regulations?

Solution

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Our CRM solution for insurance with its advanced integration capabilities streamlines processes, implements integrated practices and consolidates data across various systems (underwriting, claims, policy management, etc). It also consolidates partner & customer profiles, manages referrals, new policy issuances, servicing needs and campaign strategies.

To learn more about our CRM insurance solutions, contact a CRMnext Expert.

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