In insurance, the customer should come first. Ensure they always will be first.

by Catherine Vanmarseille, 10 March 2016

dynamics crm
Financial Services

In order to maintain direct contact with the market, RealDolmen organized an insurance seminar on February 18, 2016. This is our account, in which we also explain the added value of our CRM solution Travi@ta for the insurance sector.

Wauthier Robyns, spokesman for Assuralia, doesn’t beat around the bush: there is still a lot of room for growth on the Belgian insurance market, because many customers fail to contact an insurance agent. Like in so many other sectors, customers like to get the information themselves, as a result of which sales often have to sit back and wait. However, a recent study conducted by the professional organization of insurance companies, Assuralia, demonstrated that the lack of information is in fact the biggest frustration among customers, who feel they are not being served. CRM can help out the sales and marketing team to get the right information to a (potential) customer in time.

Going digital to serve the customer:

A customer survey in the insurance sector produced striking figures, says Robyns. Only 31% of the interviewees want to manage their own insurance portfolio, but up to 75% do want to be able to follow it up. Advice when looking for the right insurance starts with a superficial online search, but end users soon fall back on their own network. There clearly is a need for transparency, simplicity and speed to compile insurance packages and to keep them topical, together with the end customer.

According to Robyns, insurance organizations therefore have to follow the example of big digital players. They get their success from the information they offer themselves. Insurance agents, too, can increase their digital services using free apps or other information platforms, as making everything available to the customer strengthens the bond of trust and increases loyalty. Assuralia offers a free accident app, for instance, which allows customers to notify the insurance agent and document the accident immediately.

CRM as customer engagement

Frederic Pieters, Business Development Manager at RealDolmen, explains how CRM evolved from customer management to customer engagement. Customers decide when and how they communicate with you, the company. Customers have also become demanding: “A customer who calls you expects you to recognize them straight away, to know their family situation and their portfolio of policies. CRM has to be the single view of the customer.”

The combination between Microsoft’s cloud solutions and CRM are the perfect tools to increase customer engagement. By using analyses of data from various sources for instance, you can ward off returning complaints or adjust your services in order to prevent such complaints.

In addition to the cloud, Pieters thinks mobile applications are also a requirement for true engagement with your customers. Customers will start demanding the same experience via their smartphone or tablet as the one they get behind their PC at home. The way your own employees spend their time can also become more efficient via mobile applications. As everything can be done mobile, your employees no longer lose any time doing accounts at home or at the office after working hours.

Companies that use CRM in combination with the cloud reduce their sales costs by up to 31%, they grow up to 15% and increase the productivity of all their employees with 7%. 

For more information about Travi@ta, our CRM solution for Insurance Carriers, follow this link.

You can also watch more video’s and download all the presentations of our insurance seminar here

This blog post is part of a monthly series about IT in Financial Services.