More
than 90% of companies with more than 11 employees use a CRM to manage their
business better. This includes insurance agencies – yet a targeted CRM for
insurance agents can be hard to find and can be even harder to implement.
Independent insurance agents using the Partner Platform agency
management system are looking for a CRM that fits their agency-specific
needs. They’re looking for a CRM that:
Builds a meaningful pipeline and tracks it in a
single system
Uses shared information to deliver meaningful
coaching to producers
Better manages companies by providing insights
into why “Company A” responded to a quote while “Company B” did not
Increases understanding of lead sources and win percentage
…all within the unique constructs of independent insurance agency operations. When confronted with this challenge, we suggest agencies take the following steps to bring the right CRM into their agency.
Independent agencies are unique in how they sell
and manage new business. Your CRM system
should reflect how you do business and provide structure for greater efficiency
and improved results.
A quality
CRM experience starts with a system that integrates with your agency management
system. Once you have an integrated CRM, the next step is to ensure customizable
workflows, dashboards, and reporting, along with high-quality training and
support. With full system integration, customization, and continued support,
your agency has a solid base for successful CRM usage.
2. Audit and clean your data
Up
to 30% of data stored in CRMs is considered “not useful” to the businesses
that use it. That useless data usually stems from database neglect, with
agencies declining to clean data before transferring it to their CRM. If you
start with clean data, you’ve already saved dozens of hours of backtracking and
deleting or editing incomplete or outdated information. Save yourself the
headache and get ahead of data cleansing.
Think about how you want to use your CRM to align
processes with sales activity. Do you want to look at producer progress? See
how one industry responds to messaging versus another sector? Are you looking
to identify lead sources and win percentages?
Your answers will determine your CRM structuring:
naming conventions, critical data fields, and reporting, among other areas.
Identify these structures at the onset to avoid confusion and eliminate
backtracking to rename misallocated information or find lost data.
4. Identify prospect segments and test how best to reach them
Data segmentation and grouping is the hallmark of a
CRM. Identify segments within your data and begin organizing. Segments include prospects
in the same geographic location, businesses by industry, current versus lost
customers, and a host of others.
Once you segment your data, you can determine and
implement targeted outreach tactics for each group. The more segmentation you
have, the easier it is to understand how different groups respond to tactics. Segmentation
can also help you identify niche markets so you can pursue clients in those
markets and communicate your value.
Gain the Prospecting Tools and Training You Need with
Partner Platform
Get the customization, integration, and training
you need to get the most out of your CRM with Partner Platform.
Our integrated experience means all you need is a
single data transfer to access our
agency management system and Producer
Results Manager CRM among other tools. This all-in-one system provides data
and training consistency, ensuring your entire agency is connected within one
solution, improving your selling process and results.
Community matters. It can push us, shape us, affirm beliefs, and challenge them to make us better. That’s why we at SIS shaped our Partner Platform agency management tool around community. Whether it’s our community of Partner agencies or our partnership with local insurance groups, we believe in being a part of community whenever possible.
These are just a few of the emotions I’ve seen on both sides of the client self-service portal experience. Agencies wonder if self-service portals will render human agents irrelevant while customers feel emboldened with the freedom to get immediate service. In this context, this top agency management system tool seems like a must-have yet a no-win for independent agencies. (more…)
Choosing an agency management system can be overwhelming. The thought of overhauling your workflows, teaching staff a new system, and transferring management system data is enough to make your head hurt. But, it doesn’t have to be this onerous. (more…)
Choosing an agency management system can often feel like buying a home. It’s a big decision and will impact your life for years to come. The process can be overwhelming and time-consuming, making it one you don’t want to repeat. (more…)
Innovation is key to longevity in any industry, and the insurance industry is no different. Insurance revolves around people and relationships, making it an inherently dynamic field.
Digital insurance demands seem to change by the day to keep up with evolving customer and agency needs. That’s why we at Partner Platform partner with various tech partners to stay up to date with changing conditions. We as an organization can only be experts in so many areas, so we recognize the need to partner with outside specialists to fill our gaps.
We work with industry groups and tech companies to cover areas like digital document processing and cyber security, among others. Below are a few of our recent posts highlighting these valuable tech partnerships.
Insurance tech advancements are making everyday processes faster and more efficient, and customers are demanding more digital interactions than ever before. Despite the benefits and increasing customer demand for insurance tech, your team may be hesitant to adopt new technology.
This hesitancy is understandable. Change is difficult, and introducing a new process or system to an individual’s workflow can be frustrating. But, the benefits of integrating insurance tech into your agency far outweigh the challenges of overcoming change.
Here are a few ways we’ve seen agencies work to be more receptive to new technology and system updates.
The insurance industry – like others today – is understaffed. In late 2021, an insurance labor market study showed that 53% of agencies planned to “aggressively hire” within 12 months to fill vacancies. The same study also showed that it’s becoming increasingly difficult to fill open positions. As an owner, your insurance agency management relies on knowledgeable staff, but it can be challenging to fill positions in today’s market.
With hiring season just around the corner, your agency needs to focus on how to recruit new talent for your team. Past tactics may no longer work on a younger, more tech-driven workforce. It’s time to expand your outreach, position insurance differently, and look for diverse qualities to keep your agency growing.
