The Importance of CRM in Insurance Industry

Published on November 8, 2020
4 min read
Icon Saphyte Team
4 min read

Along with the changing times, there has been a steady increase of several businesses that have popped up in the industry. Thus, it is important to have a useful management tool that will help achieve the maximum capacity of your company to grow. This is where a business solution like Customer Relationship Management (CRM) comes in. 

With the current times also becoming really unpredictable, ordinary people must be prepared not just for their day to day transactions, but also for the future. With this, there has been a surge in the need of getting insurance products.

Getting insurance is like making two friends using only one gift, meaning it is one way to protect you and your family. It also reduces stress during unfortunate events and allows you to become worry-free. Aside from this, it can also secure the lives of the people you may leave behind. 

These are just a few of the countless reasons why insurance is very much needed. And with the increase in demand for such products and services, there has also been an increase in similar companies in the insurance sector. And in order for you to be a few steps ahead of your competitors, here’s the importance of CRM in the Insurance Industry. 

Customer Loyalty Guarantee 

With the increasing number of insurance companies also offering the same product, getting a Customer Relationship Management (CRM) system will greatly impact the implementation of your customer support. Being able to execute fast and immediate customer support will build a solid foundation of trust between your customers and your customer reps. Thus, CRM systems help you offer the best customer experiences unique for specific types of customers. 

When connections are built with customers, it is important to be able to maintain them in order to bring in more customers. Since we value client relationships, this will definitely guarantee customer loyalty. 

Faster Claims Resolution

Resolving claims is one of the most important things you must keep in mind if you want to up your customer satisfaction in the insurance industry. That is why getting a reliable CRM solution can help you be equipped with the right tools to help address these claims. CRM systems like Saphyte will help you not only store and delete information, but will also analyze data on the things that need improvement.

With this, you have all the means to immediately solve and address your customer’s concerns.

Effective Lead Scoring 

Applying lead scores to all of your customers brings a greater workload for your team if you are using traditional methods. This is because your teams need to gain insights on every potential customer’s information to identify if they will become a paying customer. After gaining insights, they need to manually input all of their basic contact information and lead scores.

Luckily, systems like Saphyte will give you access to a cloud-based CRM. With this type of CRMs, you can store, delete, and access data anytime and anywhere. All of these will then be analyzed by your CRM and will automatically apply lead scores to all of your customers.

With that in mind, your team can focus their time on what really matters. They will now have the time to reach out to all of your customers while having the system take care of your business process. Also, taking into account that not all customers fit in one box, insurance agents can also personalize their approach depending on the data they have, giving them the best customer experience. 

Step Up Your Sales Cycle 

Living in a fast-paced society, it is important not to waste anyone’s time, especially your customers. With the help of CRM, you can establish your sales process and will have the capability to close deals faster.

As mentioned earlier, CRMs allow you to access data in one place and help you get appropriate lead scores. With this, speeding up your sales cycle along with the sales process will be properly organized. It will also enable you to integrate multiple communication channels. With the increased number of communication channels and being able to access them using a single system, your insurance agents will have an increase of opportunities in making more sales.

In addition to that, CRM tools also allow your team to automate routine tasks. From there, your sales team can now prioritize which task they can personalize to provide a 1 on 1 experience to clients. Data duplication can also be avoided to save more time. This enables the team to engage in or do other meaningful tasks. And lastly, potential customers can easily sign premiums from any web-based device or mobile device – making the sales cycle super easy and fast. 

Conduct Consultation Services

In order to get appropriate information from customers, it is important to have a steady line of data to collaborate well with policyholders, insurance agents, or advisors. And as mentioned, providing the best customer service is not only the key to improving customer related needs.

With cloud-based CRM like Saphyte, automatically storing all data gathered from different communication channels will be integrated into the system. Thus, it allows you to have engaging customer interaction with policyholders anytime. This will also enable you to effectively conduct consultations with existing and potential customers about their policies.

A CRM platform like Saphyte also has a system that allows its users to intelligently analyze information related to the client. This helps insurance companies and small businesses in the next best course of action to increase sales. 

Multiple Premium Viewing

There is a wide variety of reasons to get insurance policies. And that follows the different types of premiums available in the market that an insurance company offers. Now, with each client having different insurance needs, it is important to let them know which premium or insurance will be compatible with their needs. 

With that, consistent and catchy premium presentations will be highly approved by customers (especially, detail-oriented customers). Having credible presentations will also boost sales – since customers’ trust in the product will increase. With Saphyte’s Catalogue feature, all your products can be merged into a single catalog.

Classifying your insurance policies can now be available in all your sales channels using a single and uniform catalog. This will allow your agents to easily and better explain your product. This will also make all employees in your company give out uniform information to all potential and existing policyholders. 


The key to the growth of your insurance company is having a reliable CRM like Saphyte. Customer Relationship Management (CRM) like Saphyte gives insurance companies an edge in supporting them in their mission to provide unique, personalized, and efficient customer service. One that helps build meaningful and long-lasting business relationships.

So, if you want your insurance company to have the capability to help all of your customers throughout their whole journey and live up to the word insurance, take advantage of Saphyte CRM. You can try our product for a whole month without paying anything. Yes, you will have a free trial for an entire month – without any hidden charges.

So, do not miss this opportunity and make Saphyte your official CRM. And together, let us grow and reach success in greater heights.

November 8, 2020