Your customer relationship management, or CRM, software is just what it sounds like – a tool for building, tracking and coordinating client-related tasks. A basic CRM system is sales software that stores customer info, helps you find and reach out to prospects and close sales.

In addition to these core sales functions, your AMS should offer CRM software that improves the customer relationship at every stage of agency operations. Ideally, your CRM tools will touch every aspect of consumer-agency interactions and help with everything from communication to customer service and retention.

What Are the Benefits of CRM?  

CRM software helps you build the client relationship at every stage of the customer journey. As a tool for storing customer information and data, insurance CRM tech gives you client info at your fingertips. CRM software provides insights from that customer data so you can identify potential customers and cross-sell and upsell opportunities. CRM tools also make it easier to communicate with customers. Timely email marketing campaigns, targeted messages sent at the right moment during renewal season, and features that help you field client requests for documents or policy changes show customers that their insurance needs matter.

The Core of CRM: Insurance Sales Management Software  

Your core insurance CRM system should have features that promote sales by nurturing the client relationship. The ability to store and access data is the most significant aspect of core CRM software. With client data at your fingertips, you can easily and quickly answer client questions and monitor the success of your sales processes.

You can also use prospect and customer data to find leads and cross-sell opportunities. Core CRM includes automation features that streamline workflows to boost customer engagement while reducing time-consuming client-related tasks. Sales CRM also gives you sales pipeline management features like dashboards that show close ratios and deal aging that help you make more informed decisions about your sales process.

A Powerful Communication Tool  

Beyond core sales capabilities, CRM software that promotes communication between your agency and clients is critical to agency success. Features for creating drip marketing campaigns let agents send personalized, timely messages to clients, including multi-step promotions, renewal reminders and even birthday wishes. Marketing automation lets you preset dates so you don’t spend extra effort remembering to send emails. Targeted, regular email campaigns and text messaging let insureds know they’re important to your agency, building connection and loyalty between your business and customers. 

An Online Extension of Your Agency  

Your client portal is essential customer relationship management software. A client portal is an online site that offers customer support for insureds. Through the portal, customers can find their insurance policies, ID cards, and documents and make change requests in real time. Because the portal is online, it can stay open all day and all night and provide service even after agency business hours.

Self-service for policyholders eliminates many of the hours agents spend answering phone calls and looking up client docs manually, but more than that, it’s the service customers want. Even during normal business hours, insureds have been found to prefer the online self-service option. It’s just more convenient. Offering high-quality self-service isn’t just about saving your business time – it’s about increasing the value of your agency in the eyes of your insureds.

Managing the Client Relationship at Renewal  

Next to sales software, CRM tools for customer retention impact your agency’s bottom line the most. EZLynx® Retention Center®  is currently the only patented retention solution with a tailored workflow and analytics to maximize renewals. When it’s time for policy renewals, EZLynx Retention Center gives you the customer relationship management tools needed to contact each insured regarding their policy. Automated messaging lets you contact low-risk customers to reassure them that their policy is in order.

Predictive analytic models in Retention Center identify which clients are more at risk of leaving and draw them to your attention. Then, the Automated Renewal Quoting feature in EZLynx finds the remarketed rates for at-risk renewals and shows them next to the renewing policy details; you get an immediate view of the current and future policy differences. As with other retention software, Automated Renewal Quoting saves insurance agents time – up to 15 minutes per at-risk renewal quoted – and delivers a more satisfying experience to insureds.

Conclusion

When most people think of customer relationship management software, they’re really picturing a sales solution. While sales is a core aspect of CRM, your agency management system as a whole should act as your agency's total CRM solution. With the ability to boost sales, facilitate communication, provide online service, and increase retention, insurance CRM software in your AMS can be utilized throughout your agency’s functions. 

Visit EZLynx.com to learn more about CRM software and how it can help your agency nurture client relationships.