The core function of businesses is to cater to individuals known as customers or clients. Business owners have to oversee processes, products, and, crucially, their relationships with customers using optimal tools. This article delves into the top insurance CRMs to consider this year.
Insurance companies are no exception to this as they face a growing need to cultivate and manage strategic customer relationships both offline and online. Consequently, these companies must seek the most effective CRM strategies to streamline customer management and boost productivity compared to 2021.
What Is CRM in Insurance?
In the insurance sector, customer relationship management (CRM) is a system for managing interactions between an insurance company or agency and its current and prospective policyholders. It encompasses acquiring, retaining, and collaborating with select insurance consumers to generate exceptional value for both the clients and the company.
CRM frequently involves utilizing technology to organize, automate, and synchronize claims, premiums, marketing efforts, customer service, and technical support. This empowers insurers to assess customer value and enhance customers’ perception of service quality. Moreover, it’s an ongoing process vital to insurance companies’ ability to serve customers effectively, attract new ones, and maintain success.
Best Insurance CRMs for Digital Marketing
As insurance companies look ahead to 2022, here are the top customer relationship management (CRM) formats to implement for growth, expanded audience reach, and maximized claims and premiums:
1. Better Agency CRM: Best Insurance CRMs
Better Agency CRM is a top contender in the insurance CRM landscape. It boasts impressive automation features and built-in automated campaigns for expedited claims and policy management. If an agency prioritizes operational efficiency over tool management, this CRM is ideal.
For agencies starting out, the price is USD$299 per month, encompassing unlimited contacts, one to three agency users, support, and integration. For USD$399 per month, agencies can access additional features, from a higher user count to campaigns and automation. The powerhouse campaign is priced at USD$549, offering even more improved features.
Other features include:
- Firstly, Effortless sales automation
- Secondly, Real-time team collaboration
- Pre-designed marketing campaigns
- Enhanced onboarding process
- Finally, Superior customer support
2. Zoho CRM
Zoho CRM is widely regarded as the industry standard for lead conversion and sales growth. With a vast user base spanning thousands of businesses globally, this software can drive both short-term and long-term value for insurance agencies. Its scalability makes it one of the best CRM platforms for insurance companies in 2022.
The standard Zoho CRM plan costs USD$12 per month, billed annually. This covers multiple emails and pipelines, customizable dashboards, workflows, and scoring rules. The professional plan, priced at USD$20 per month, includes more advanced benefits. Enterprise and ultimate plans are available at USD$35 and USD$45 per month, respectively.
While Zoho CRM excels at driving sales, unlike Better Agency CRM, its focus is not solely on insurance agencies. Some of its key features include:
- Firstly, Sales automation capabilities
- Secondly, Robust sales management features
- Advanced customization options
- Real-time review and approval processes
- Finally, Analytics for sales performance tracking
3. HubSpot CRM: Best Insurance CRMs
HubSpot CRM has established a strong reputation for its flexibility, accessibility, and availability. It provides insurance agencies with unlimited users, data, and millions of contacts, regardless of team size. Agents can test its free features before committing to the premium version.
HubSpot CRM’s pricing starts at USD$45 per month, totaling USD$540 per year for basic features. Professional insurance agents pay USD$800 per month or USD$9,600 per year for more advanced features. Enterprise-level agencies gain access to premium benefits for USD$3,200 per month, approximately USD$38,400 annually.
HubSpot CRM was designed as an ecosystem that connects tools, people, and businesses. While it’s general-purpose software, insurance agencies can benefit from features like:
- Real-time communication tools
- Lead generation and management capabilities
- Workflow automation
- User-friendly drag-and-drop editor
- Performance analytics dashboards
4. Salesforce
Salesforce simplifies the complexities of CRM. Through its customizable features and practical projects, insurance agencies can foster stronger policyholder relationships. It offers thousands of personalized apps, training resources, and business resources that agents can leverage to boost policy sales and profits.
Salesforce’s basic plan, priced at USD$25 per month, provides essential CEM systems for insurance agents. The service cloud plan also starts at USD$25 per month. The marketing cloud is priced at USD$400 per month, while commerce cloud pricing is available upon request. Salesforce Pardot, at USD$1,250 per month, represents the highest price point.
The advantages of utilizing Salesforce to drive policy sales are substantial. These benefits are accessible through features like:
- Improved customer support tools
- Real-time collaboration capabilities
- Enhanced data analytics
- Unlimited learning resources
- Sales automation functionalities
Best Insurance CRMs: Conclusion
Integrating these CRMs will enable insurance companies to significantly elevate their customer relationship effectiveness as they enter the new year. According to Gartner’s study, the value of customer relationship management is projected to continue its upward trajectory through 2025. This underscores the importance of treating customer information as a valuable business asset. Moreover, insurance companies must leverage this data effectively to cultivate stronger and more profitable customer relationships.