{"id":2437,"date":"2019-02-26T11:30:03","date_gmt":"2019-02-26T11:30:03","guid":{"rendered":"https:\/\/devbloglavaprotocols.nityo.in\/how-can-insurance-companies-benefit-from-having-a-crm-system\/"},"modified":"2019-02-26T11:30:03","modified_gmt":"2019-02-26T11:30:03","slug":"how-can-insurance-companies-benefit-from-having-a-crm-system","status":"publish","type":"post","link":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/how-can-insurance-companies-benefit-from-having-a-crm-system\/","title":{"rendered":"How Can Insurance Companies Benefit From Having A CRM System?"},"content":{"rendered":"
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By Prethiba Esvary, Marketing and Communications Executive, Lava Protocols<\/i><\/b><\/p>\n

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How many of you have friends\/ family members who sell insurance on the side? I\u2019m pretty sure a lot of you do. <\/span><\/p>\n

Almost anyone can sell insurance these days. All you need is an SPM qualification, a pass on the pre-contractual exam, and attend X hours of training annually. <\/span><\/p>\n

However, being a good insurance agent alone is not enough. The success of the industry is highly dependent on trust and trust is not something that can be earned merely through the relationship built between an agent and customer. It\u2019s also about the speed of purchase and approval cycle, and data security, to name a few. <\/span><\/p>\n

With growing competition and tightening regulations, how do insurance companies stand out?<\/span><\/p>\n

A great customer experience.<\/b>
And of course, an equally great CRM system to help you achieve that.<\/span><\/p>\n

Below, we talk about Salesforce for insurance companies.<\/p>\n

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A Local Example<\/span><\/strong><\/h2>\n

We have a client who is a global leader in insurance and investments. They have over 105 million customers spread across 62 countries. That is a huge number of customers to manage! <\/span><\/p>\n

Their Malaysian business faced 2 major challenges:<\/span><\/p>\n

One was the <\/span>manual application process<\/b> where data transfer was made from hard copy forms into their online system. This meant that a lot of unnecessary time went into consolidating and validating data from hard copy applications, and high chances of data loss and inaccuracies.<\/span><\/p>\n

Second was their<\/span> cash only payment approach<\/b> for the first payment. This was not viable as it became a hassle to transact in cash especially if the insurance premium is high. <\/span><\/p>\n

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The Solution<\/span><\/strong><\/h2>\n

Our client already has a Salesforce platform to hold all their customer data in one place. What Lava Protocols did was to:<\/span><\/p>\n