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Key Roles of CRM Software for Insurance Companies

Published on June 25, 2020
5 min read
Icon Saphyte Team
5 min read

The insurance sector has finally kept up with the technological times. However, this doesn’t change the fact that the topic of insurance is uncomfortable, confusing, and complex.  Apart from that, there are different obstacles that insurance companies face every day.

So, what are these obstacles that insurance companies have to hurdle to?

Increasingly Competitive Market

Stating the obvious, the competition within the insurance market has become fiercer because of the growing number of businesses selling insurance. Banks are a good example of fierce competition. Most banks, as well as other businesses, offer insurance on top to the services they offer.

There are hundreds of businesses out there selling the same thing you are selling and doing what you do. That is why it is essential to have something that sets you apart from the others.

Obtaining New Clients is Difficult

With the rise of competition, obtaining new clients can also be rough and tough. Furthermore, consumers of today are smart because of the information they can get with the tip of their fingers. Consumers or prospects can do their own research, compare prices, find the best deal, etc.

There is a lesser need for an insurance agent and more direct-writer insurance companies today. However, buying insurance through an independent insurance agent has some definite advantages to it.

Economic Downturns

With the recent COVID-19 pandemic, insurance companies may face the consequences of an economic downturn. In return, there might be strains on investment portfolios, delayed payments, decreased premium volume, and coverage disputes.  

If you want to stand out from your competitors and to keep your business afloat, it’s important to change your internal and external processes simultaneously. Only then you can make a major transformation. 

If you think this change is painful and lengthy, it doesn’t have to be. With the help of a CRM software, you can improve your processes and have a business edge. If you want to stand out from the competition, deliver exceptional customer service, and allow for exponential growth – CRM tools are the best answer. 

What is a CRM’s function to the insurance sector?

CRM tools like Saphyte can help improve business performance for insurance brokers. Apart from being a database managing software, there are plenty of benefits and functions a CRM system can do for insurance companies. Here are some of the basic functions of CRM for insurance companies and small businesses.

Take Things Off your Agents’ Plates

Insurance paperwork is tedious. Documentation processes usually require a tremendous amount of effort from both the client and the company. Furthermore, the complexity of paperwork will vary depending on the circumstances.

Simplify Regular Tasks

Everyone, whether they’re part of the sales team or the customer’s part, all want to streamline services. Or perhaps a straightforward and convenient experience with easy steps, repeatable processes, and simple access to information.

Insurance paperwork is filled with steps and processes to be completed, and missing one in the process is crucial to customer satisfaction. However, with the use of a CRM, your agents can set up tasks, reminders, and even automate some of the functionalities within the CRM. Furthermore, agents can track progress and anticipate any issue before the due date.

Upgrade Lead Tracking and Following

Insurance is a competitive market, and trusting on repeat business is not a guarantee. As an insurance company, one must have the ability to stand out from their competitors, strategize a plan, track progress, and measure the effectiveness of their plans.

Furthermore, it is important to have a client journey plan for your leads and prospects, and set up any touch points to track any progress. However, this requires plenty of customer data entry. A task that can take most of your agent’s time.

But with a proper CRM collecting and entering customer information is no longer irritating. There are straightforward and easy to use fields to enter every detail that you need to know about the client. Thus, reducing the amount of doing admin works and more time for a personalized service with your customers.

Streamline Workforce and Data Management

Insurance policies and legacy programs are not designed to accommodate the needs of today. Plus, your agents have to use multiple applications to nurture individualized processes. But with a CRM you can keep everyone on the same page and streamline internal efforts.

You can take multiple applications, connect or integrate them to the CRM, and make the software a centralized hub for both communication and data. This will eliminate back and forth conversations and reduce potential misunderstandings in the future.

Simplify Decision-Making

Trends and needs change. It is a harsh fact that insurance brokers and financial advisors face almost every day. An insurance company has to keep up with their customer’s demands, and predict trends in order to evolve their business for the future. This is how CRM can be a most powerful partner in helping you simplify decision making.

With all the data you’ve filed into the system, the CRM system in return will measure data to target specific indicators, and assist you in making effective business decisions. This feature is most helpful most especially if you are in a financial business.

With a CRM, you can slice-and-dice the data, run reports, and map upcoming trends. You can also track client behavior and anticipate needs or analyze customer behavior for better client engagement.

Improved Customer Experience and Faster Claims Resolution

Consumers of today are well adapted to the convenience and the availability of communication channels. They have easy access to all sorts of communication channels like email, phone, chat, and social media.

Whilst, this is a good thing, this will also cause an increase of expectations by policyholders in terms of customer service experience, customer support, and prompt handling of claims. That is why you need the help of CRM systems in order to cope with these expectations, build a good relationship with customers, and improve customer experience.

Product catalog and policy references

If you’re having a hard time closing on deals along the same process, then perhaps it is time to break them down into segments. You can easily do this with product catalogs.

With a CRM, you can create a product catalog with your product details, create process workflow guides and policy references for further marketing material. With a clear and great marketing material, your agents will have an effective tool to close a deal with their prospect.  

Why is Saphyte your perfect CRM software partner?

Saphyte is a CRM system that helps businesses streamline their corporate activities and integrate them into a single and powerful platform. This CRM tool is also built to make the sales process and marketing activities convenient for businesses. The software has features designed to make sales and marketing easier, as well as make things smooth and seamless for people with administrative roles.

The software helps you manage customer data, conduct marketing tactics and strategies, and identify opportunities for the long haul. Saphyte is also the first Customer Relationship Management software that is registered in the United Arab Emirates and is expected to become a disruptive technology and change the way SME’s do business.

What are the features you can enjoy from this software?

Manage Client Data

Contact management is more than just contact information of your existing customers or your potential customers. It’s also a means of equipping your agents to give a personalized customer experience for your current and future policy holders.

The Client Management feature of Saphyte allows you and your team to effectively and efficiently manage your contacts database. You can also automate your processes, organize your data, manage your tasks, generate your reports, and more valuable features to enjoy.

In addition, Saphyte is built with a Duplicate sensitive feature. The software itself is sensitive about duplicate entries and is built to only allow one unique data per client. Should there be any duplicates, the system easily recognizes this and prompts you an action to either merge or replace client information.

Connect Sales and Deals

Closing a deal, or having more people subscribe to your policy is your end goal. But, too many choke points between sales and deals can lead to failures.  With a proper CRM, you can streamline your tasks for your sales and marketing teams. With Saphyte’s Sales Management and Marketing features you can effectively do just that.

With the Sales Management feature, your team will have the tools they need to manage your sales. They will know where they are in your business process using the visual sales pipeline. They can add and close deals faster through the Deals Management and manage your associated company.

In addition to that, Saphyte’s sales forecasting is essential to the increase of your revenue and can help you mitigate any potential losses in the future. Furthermore, Saphyte has added a hierarchy feature that would greatly benefit you and your team. This will allow your advisors or team leaders to effectively manage your clients or prospects.

Team leaders can assign deals and leads to their teammates. In return, team members can enjoy a more personalized and focused customer interaction. No overlapping and no redundancy. Only efficiency and effectiveness.


When you’re in the insurance sector, you need to market your product for your customers to notice you. You can now accelerate your marketing strategy with Saphyte. You will have all the necessary tools for your campaign management, social media marketing, email marketing, form builders, and more.

Saphyte’s Campaign Management feature is built with real time statistics of the parameters you set for your ongoing marketing campaigns like the number of clicks, emails, opened emails, leads, deals, and more.

In addition, you can integrate your social media accounts within the CRM software. This feature will allow you to track the progress of your social media campaigns directly from your CRM and easily add your leads to the system.

Increase your lead conversion rate fast with Saphyte’s Email Marketing tool. This feature comes in with email design templates, bulk emails, workflows, and an email scheduler. With these features, you can increase your lead conversion rate fast and get the word about your business out there.

Get all your product details, create process workflow guides and policy references in one place. Saphyte is built with a Product Catalog Management feature that allows you to consolidate all your products in one catalog. 

With this feature, you can easily categorize, organize, and standardize all your product information across all sales channels. Not only that you have a prepared and equipped agent but also an informed and satisfied customer. 

You no longer have to waste time tracking email activities. Saphyte is built with a powerful email tracking feature that sends you a notification whenever a client opens an email, clicks a link, or download an attachment you have sent. With this feature, you are giving your team an opportunity to follow up with your leads, prospects, and customers in a timely manner.


On a further note, the software is built for flexibility and scalability. Designed to grow with your business and to tailor according to your processes.

Plus, the fact that Saphyte is built to help businesses in the insurance sector to realize the full potential of their business without costing an arm and a leg. Saphyte does not require users for a set-up fee and our monthly fees are affordable for businesses.

Build your insurance empire today. Build it with Saphyte. Sign up for a free trial or call our experts for a free product demo. Call us, we are excited to grow with you.

June 25, 2020