CRM For Insurance Agencies: The Ultimate Guide For 2023

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      CRM For Insurance Agencies: The Ultimate Guide For 2023

      13' read
      13' read

      Insurance CRM software is an application that is used to manage the customer relationship management process and help insurance agents, brokers, and insurance agencies to manage multiple insurance policies, streamline marketing and sales processes, increase their sales, etc.

      CRM solution helps in workflow automation and makes it more efficient, thus helping the agency to focus on its core business of selling policies.


      Insurance companies can use the software to manage their customer relationships better by enabling them to:

      • Understand each customer’s needs, wants, and concerns
      • Manage customer relationships through different channels (email, phone, social media, etc.)
      • Send customized offers based on customer profile

      This program allows you to track customer information like contact data, personal data, financial details, etc. to provide you with more accurate customer information.

      Insurance CRM software, like Salesforce, HubSpot CRM, Zoho CRM, etc. include features such as contact management, lead tracking and management, quote and policy management, claim management, and task and workflow management. It also provides various reports like leads generated by each agent/broker and clients they have serviced in the past as well as their personal profiles.

      Why Insurance Agencies Need CRM Software

      Inefficient Workflows And Cutthroat Competition

      Insurance businesses need CRM software because manual tasks like attending calls and sending emails lead to inefficient workflow. Plus, there is absolute cutthroat competition in the insurance sector.

      Insurance agencies have a lot of manual processes that are tedious and time-consuming. For example, in the claims process, insurance agents need to manually gather information about each customer’s policy claim and then forward it to the appropriate department. The same thing happens when an agent needs to send out an email or make a phone call. And, like most industries, insurance is filled with cut-throat competition so agents must constantly be on their toes about meeting quota goals or losing their jobs.


      SMS marketing allows insurance agencies to automate their workflows by automating several tasks such as calling customers and sending them offers via text messages or emails. In addition, it allows agents to better track lead generation efforts by creating leads from existing contacts and following up with them later on through automated email campaigns.

      Lack Of Organized Data

      Insurance agencies are faced with several challenges when it comes to keeping track of information about their clients and their policies.

      The information is scattered across different systems, making it hard for the agency to access it. The result is that there is no single place where you can find the data you need to make important decisions, such as whether or not to send an email marketing campaign or renew a policy.


      The traditional way of managing insurance claims is by paper, and it’s an extremely time-consuming process. While this method may have worked in the past, today’s technology has made it more efficient.

      Insurance agencies need CRM software because they want to be able to track all the claims from beginning to end. They want to know when a claim was received and when it was paid, along with any additional information about the claims.

      The ability to manage all types of insurance claims from one location is key for insurance agencies. When an agent needs to submit a claim, it can be done quickly and efficiently by using CRM software. This allows agents to access important information about each client’s policy through a single interface instead of having to search through files or emails on their computers.

      Lack Of Strategic Lead Generation Methods

      Lead generation is the lifeblood of every agency. The ability to be able to identify and track leads, as well as handle them promptly is key to a continued successful business. Without these modules in place, agencies will struggle to generate new business and keep existing clients.

      Lead generation can be done through various channels including direct mail campaigns, email marketing campaigns, social media marketing campaigns, and more.

      However, some insurers are using more traditional means such as cold calling and door-knocking at their home offices or in their local communities. This method works well for some but it is not always effective at building rapport with potential customers or clients.


      The main reason why many insurers are turning to CRM software is due to its ability to help them manage all aspects of their business from a single point of contact.

      Most insurance agencies are small businesses with limited resources so they need something that can manage all aspects of their day-to-day operations to growing their business quickly.


      • It helps them increase the number of leads they collect from their existing customers (or as referrals).
      • It helps them identify new customers who are not yet customers but are interested in buying insurance online or by phone.
      • It helps them determine how many people have converted into paying insurance customers at a rate that justifies an ongoing relationship with them.
      • It’s also important for an agency’s CRM system to have a strong reporting feature so that they can easily see how well each campaign was received by potential customers or clients.For example, you can use call tracking to see where your calls go after they are made, or you can use email marketing software so you know which prospects opened your emails and gave them time to read them.

      Five CRM Software For Your Insurance Agency

      Oracle CRM

      The PeopleSoft Enterprise CRM (by Oracle) for insurance agencies is a robust, feature-packed CRM that enables insurance agencies to:

      • Resolve complex customer relationships
      • Manage customer communication
      • Save money with low-cost ownership
      • Manage partner ecosystems


      Pricing details can be sought directly from the service provider.


      Centralized Information For Easy Data Accessibility

      PeopleSoft CRM allows your insurance team to access customer information on a centralized database that contains information such as first notice of loss, claim assignment, other claims information as well as adjustment data. This helps the sales and the service department better understand a customer’s claims history.

      Fluid User Interface

      PeopleSoft’s user interface is intuitive and easy to use because:

      • Activity Guides allow you to access the guided process (customized to suit your business needs) for faster workflow.
      • It offers maximized customer satisfaction with Configuration frameworks and Selective Adoption by eradicating invasive customization.
      • Detailed dashboards allow your teams to access data about achieving a common purpose.
      • Its WorkCenter Framework offers a centralized place to accomplish work and activities with simplified navigation and an intuitive dashboard.


      Expensive Customization

      PeopleSoft CRM software offers costly customization and even then is devoid of useful features if used without customization. PeopleSoft CRM software lacks many useful features if an expensive customized plan isn’t opted.

      Also, the customer account screen doesn’t seem to follow the basic chart of accounts. It fails to show the order of credit/debits paid on the client’s original balance.

      Difficult App Modification And Navigation

      Making modifications to this app can be complex as it requires reinitiating most of the processes. Also, the interface is outdated and the app requires improvement for easy navigation.


      Insureio CRM tool helps insurance agents streamline their workflow and keep their customers happy by automating sales tasks.


      Its three key features — tracking, managing, and automating help in:

      • Tracking the leads, tasks, and policies. Its dashboard and pre-built reports provide you with the most accurate predictions.
      • Managing all non-revenue generating processes with the drop-ticket app which helps in automated approvals, delivery of e-policy, and efficient case management.
      • Constructing lead nurturing campaigns and follow-ups with automated sales, marketing, and lead generation activities.

      Insureio offers four paid plans and two add-ons (coming soon):

      • Basic @ $25/month — Offers drop-ticket solution, quoting and lead capture widgets, limitless brand profiles, customizable analytics, and reporting.
      • Marketing @ $50/month — Offers everything in Basic plus a personalized website for e-marketing, email blast distribution, and pre-built marketing campaigns.
      • Agency management @ $50/month — Offers everything in Basic plus lead routing and assignment, Dashboard, agent recruiting, and marketing.
      • Marketing & agency management @75/month — Offers everything in the above-mentioned plans.
      • Add-ons — Bulk email @ $10/10k sends and Team view @ $5/team member.


      Robust Lead Management

      Insureio offers an omnichannel customer relationship management platform that allows you to smoothly manage and nurture insurance leads at every stage in the funnel. It helps in:

      • Optimizing the sales cycle
      • Opportunity tracking with an intuitive dashboard
      • Systemized distribution of leads across your team
      • Sorting and managing multiple leads from various brands

      Customer-Focused Insurance Marketing

      Insureio provides you with widgets for life quoting and lead capture. These widgets can be embedded into the websites or landing pages, turning these into a lead-generating machine.

      Its pre-built templates for output-driven email marketing have been tested and refined with proven impact on the insurance market.


      Poor Customer Support

      Post setup of this CRM tool, you are on your own. Even though it provides a video course online, the ongoing customer support is subpar which endangers the customer retention rate.

      Limited Deployment

      Insureio doesn’t offer on-prem deployment. It also lacks the basic features that a health and property agency CRM should be equipped with. Also, it has no mobile app.


      Pipedrive’s insurance CRM software is focused on enhancing sales activities. With its power-packed sales features, it allows you to efficiently manage the sales pipeline.

      With this CRM tool, you can:

      • Run streamlined sales operations
      • Enhance the performance and productivity of your insurance agent(s) — a.k.a. salesperson(s)
      • Manage new claims


      Pipedrive offers four paid plans to choose from depending on your agency’s requirements:

      • Essential @ $9.90/month — Helps set up simple sales processes
      • Advanced @ 19.90/month — Helps scale with automation and features like easy-to-use email
      • Professional @ 39.90/month — Use Projects to launch targeted upsell and cross-sell campaigns.
      • Enterprise @ $59.90/month — Unlimited customization coupled with efficient support


      Effective Team Management With Streamlined Communication

      Pipedrive allows you to boost productivity with powerful integrations (such as a syncing calendar with Google, Microsoft Outlook, Office 365, etc.) that ensure all the agents are well-updated with features like automated document sending, notifying on Slack, and updating via SMS.

      It helps in:

      • Tracking your sales teams’ performance by linking activities to leads or deals.
      • A hassle-free meeting scheduling process — determine your work availability, let customers pick a mutually suitable time slot, etc.
      • Automatically creating video calls on Google Meet, Zoom, etc.
      • Automating the workflow by reducing conflicting schedules.

      Efficient Customer Experience

      It helps lessen customer response time and stores all the communication in one place. This helps the customer reps to identify the customers specifically assigned to them. The reps can have a better understanding of when they need to respond to a customer to meet SLAs (Service Level Agreements) and beat the insurance industry-specific average.


      Unavailability Of A Free Plan

      Pipedrive offers no free plans. It has very limited custom fields or reporting in most of its plans. Also, only the highest-tier plan offers phone support.

      Complex Billing

      The billing section is a bit difficult in terms of navigation. Once the free trial is over, it sometimes automatically diverts the user to the Enterprise level with no navigation options to downgrade to other (low-tier) plans.


      Radiusbob CRM platform has been specifically designed for insurance agencies. It aims to reduce the burden of manual tasks by automating sales and marketing tasks. The tool primarily focuses on leads, clients, and agents that are managed by its Agency Management System.


      It offers four paid plans:

      • Agents @ $34/user per month
      • CSR @ $68 for 2 users per month
      • Broker @ $149 for 5 users per month
      • Agency @ $292 for 10 users per month


      Automated Sales And Marketing

      Radiusbob helps with sales automation, organizing, and managing all your leads and customers. This further helps in avoiding human error such as misplaced information or technical faults like hard drive crashes or corrupted spreadsheets, etc.

      Marketing automation allows you to send auto-responders, mass emails or text messages, and drip campaigns without requiring separate email marketing software.

      Integrated VoIP And Call Center Solution

      Radiusbob provides you with an integrated VoIP (Voice over Internet Protocol) with its in-built Telephony solution. With this feature, insurance agents can call the leads directly using Radiusbob without any additional software required.

      It comes with catchy features such as:

      • Click-to-call
      • Call recording
      • IVR (Interactive Voice Response) and call groups
      • Auto preview dialer
      • Queue lists calling


      No Global Leads Provision

      Radiusbob doesn’t provide leads across the globe which affects the global agency business growth. It needs to expand its reach across various important industrial hubs around the world.

      Lacks Customer Support

      Radiusbob lacks in providing quick solutions to customer issues. Issues such as underperforming sales processes aren’t dealt with efficiently.


      Agencybloc is an insurance and benefits CRM software that provides your insurance agency with efficient customer relationship management tools for result-oriented workflow. Its areas of business cover Health Insurance, Senior Market Insurance, Group Benefits, and Life insurance.


      It provides you with the following functionalities:

      • A centralized business view by consolidating your data in a single place.
      • Organized and efficient workflow with robust tools equipped to simplify the complex processes of lead management, real-time reports, commission processing, policy tracking, etc.
      • Assured security, stability, and accessibility of your data with SaaS and Cloud-based solutions.

      The pricing starts at $70 per month and is followed by customized plans.


      Performance Tracking To Ensure Productivity

      AgencyBloc allows you to monitor team activities, assign tasks, and manage the completion of tasks to ensure that your team is working towards yielding maximum productivity. You can do this through two different ways of task management offered by this tool — List view and Visual Calendar View.

      With a list of task assignments that are categorized under Activities, you can efficiently streamline internal communication to equip your staff with unhindered performance capability.

      Multi-Agent Management

      AgencyBloc provides you with Agent Communication Software that allows multi-agent communication with its powerful tools. With its automated task management (using calculated scenarios), agents are automatically assigned tasks so they could reach out to new leads actively and quickly.

      The automated workflow:

      • Helps you provide flawless service to your clients. It uses SOPs (Standard Operating Procedures) to nurture leads, manage new client onboarding, etc.
      • Entitles your agents to keep their licenses and coverages up-to-date. With Agent License and E&O (Errors and Omission) management, it helps agents create a digital trail of customer interaction to ensure that the data goals are met.


      Weak Notification System

      Sending occasion-specific personalized greetings to the client is one of the many important aspects of managing good customer relationships. But in AgencyBloc’s notification system, the reminder or ‘To Due’ reminder fails to notify of a potential client’s occasion such as their birthday. It also fails to recognize the potential leads at times.

      Steep Learning Curve

      To understand some of its advanced features, such as workflow emails, etc., it becomes imperative to hire a professional or possess some coding knowledge at least.

      Wrapping Up

      As touched on earlier in this article, insurance CRM software solutions help agencies by providing a way to better manage their customer data. When it comes to choosing a CRM for your agency, there are a number of things to consider including price, features, and support. It’s important to find a CRM that fits your agency’s specific needs and budget. Once you’ve found a few possible options, take the time to try them out with a free trial or demo account. This will allow you to see firsthand how the system works and if it’s a good fit for your team. When you’re ready to make a decision, keep in mind that the best insurance CRM for your agency is the one that provides the most value and helps you achieve your goals.