Illustration Press Insurance broker crm

How to choose a CRM software for insurance brokers?

What features should you look for in a CRM software for insurance brokers?
Brokerage

Every year, the use of a CRM software for insurance brokers becomes more and more essential for many professionals. Indeed, in a society impacted by an increasing digitalization, the digital transformation of obsolete methods is particularly recommended to this industry, which is also highly regulated.

What are the notable features of these popular software packages? What are the benefits for your company? This article will give you all the answers you need.

What features should you look for in a CRM software for insurance brokers?

What are the features to look for in a CRM for insurance broker ?

Every year, the use of a CRM software for insurance brokers becomes more and more essential for many professionals. Indeed, in a society impacted by an increasing digitalization, the digital transformation of obsolete methods is particularly recommended to this industry, which is also highly regulated.

Flexibility and accessibility:


While some professionals prefer to centralize data locally via a server, access to stored information can become a real problem during every move. As such, real-time tracking of relevant data is a key feature to ensure the competitiveness of a business, company or organization.

A CRM for insurance brokers allows you to consult, modify or build your database at any time and place. Indeed, a simple smartphone will allow you to access this information. Moreover, the security of your data is guaranteed.

Improved marketing and sales activities:

A CRM for insurance brokers also has many advantages that promote the improvement of marketing and sales activities. We can even say that a CRM is a marketing toolbox!

Customer management:

The prioritization of requests related to customers and prospects is essential to define an optimal organization. The use of a CRM will allow you to establish priority treatments according to the potential and imperative nature of the requests. Your efforts will therefore be assigned in order of importance.

Take advantage of automated follow-ups:

Ensuring an optimal follow-up of each request is above all preserving a crucial customer relationship, regardless of the profile of your business, company or organization. However, the multiplication of requests generally leads to perfectible follow-ups. A CRM for insurance brokers allows you to respond to this problem, which has been widely identified by professionals, by automating this task.

Automate and free up time for your team and maintain a close relationship with your customers:

Preparing and building a relevant database for your customers (and prospects) are crucial steps to foster a close relationship. The deployment of a CRM is ideal to better respond to each request while precisely identifying the needs mentioned. Indeed, by accessing a database and customer files, the consultation of information specific to your clientele favors a decisive satisfaction (loyalty, sales evolution, notoriety of the company...).

Reminder of automatic renewal follow-ups:

Every insurance broker must guarantee automatic renewal follow-ups in order to inform its customers. A CRM allows you to automate this process in order to notify by e-mail the validity of a subscribed offer before extending, modifying or terminating it.

Profitability analysis of a project:

It is easier to compare different contracts, loan insurance, liability, car insurance, decennial... Contract management is simplified and so is profitability analysis! With a claims form directly linked to your CRM, profitability is monitored in real time.

Personalized support thanks to data:

Building up a relevant database is indeed ideal for getting to know your customers better and fostering a close relationship. Moreover, other advantages linked to this characteristic can allow you to personalize each accompaniment.

The suggestion of adapted products

Knowing each customer better allows you to identify his or her life cycle in order to suggest adapted insurance offers according to current needs. This anticipation is a real argument for the competitiveness of a company or organization.

The creation of a personal database plays a decisive role here. Naturally, the storage of this information is regulated according to the General Data Protection Regulation (GDPR).

Personalization of offers thanks to the data in the database: 

Access to the database of a CRM for insurance brokers also enables certain information to be enhanced and defined as indicators. This advantage inevitably allows to apply the best strategies and to optimize the competitiveness of a company or organization. The term "tailor-made" becomes a real argument to arouse the curiosity of prospects.

Building customer loyalty

Proposing personalized offers according to the needs of your customers sometimes allows you to lighten certain contributions in order to maximize their satisfaction. Loyalty is obviously a positive consequence for professionals. With a CRM adapted to the insurance brokerage, you can centralize your marketing actions according to your customer management - with automatic emails for example.

The intelligence of CRM systems

A CRM for insurance brokers evokes other particularly attractive features: the ability to analyze reports, combine products and limit errors.

Automated analysis and reporting

A CRM for insurance brokers can automatically run analyses and reports to track your business in real time. Moreover, access to this information provides a global view of your customer's profitability.

Automatic product combinations

As an insurance broker, it is necessary to select various options according to the needs of your customers, compare offers and define the best solution requires a significant investment. Using a CRM allows you to analyze and combine multiple products (creating fully customized insurance policies). Once again, the optimization of the customer relationship is a widely verified result.

Marketing automation features with a CRM

Limit errors


The expression "to err is human" can be verified in every professional field... And the insurance industry is no exception to this rule! So, no matter how experienced you are or how well you perform, the risk of error must be considered.

However, these situations can have real consequences for your business, company or organization.

A CRM for insurance brokers allows you to limit these risks in order to perfect your activities thanks to the analysis and automatic processing of your data. A gain in efficiency is then verified thanks to a better allocation of tasks/priorities.

A considerable time saving

In addition to limiting the risk of errors, automation also saves considerable time. Many repetitive procedures and tasks become trivial. Insurance brokers can therefore devote their activities to other priorities.

A management solution in SaaS mode

Preferring a Cloud or SaaS solution allows you to benefit from a flexible, agile and mobile management tool. You can focus on your core business as a broker without worrying about technical issues.

Solutions adapted to regulations

Your information system must comply with regulatory requirements. Because the insurance brokerage profession is particularly regulated, it is crucial to choose a tool that will comply with the requirements of the Insurance Code but also with the RGPD.

RGPD compliant, designed and hosted in France, Timetonic offers data security and flexibility in the face of regulatory uncertainties, and allows compliance with the insurance distribution directive. Communications and documents are fully encrypted, in accordance with insurance specialists' standards.

Timetonic is a flexible and scalable SaaS platform that can easily adapt to actuarial innovation and brokerage activities.  

Timetonic is a solution designed with insurance professionals, for insurance professionals: Our platform adapts to the brokerage business, no line of code is required and all settings are accessible without any computer knowledge. Optimal for both start-up and long-standing insurance brokerage firms, Timetonic provides the power, flexibility and agility needed for all needs and scalability.

See our Brokerage solution

These other articles may be of interest to you