10 Best CRM Software Platforms for Insurance Agents
Cecily Giancaterino
Jun 27, 2023
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16 min read
CRM
Your insurance agents need the right tools to manage client relationships and optimize sales processes effectively. That’s where a CRM platform comes into play.
These software products have been designed specifically for insurance agencies to help them streamline operations, improve customer engagement, and drive growth.
In this article, we’ll cover the ten best CRM software platforms for insurance agents, analyzing their key features, benefits, and pricing plans so you can choose the best one for your business.
Key Takeaways
Some key things to know about insurance CRM software:
- CRM platforms can automate critical processes, such as policy renewals and claim assignments, saving time and reducing errors.
- Robust CRM solutions offer multi-channel communication options, enabling agents to engage with clients using their preferred channels.
- Advanced analytics and reporting features in CRM platforms help agents make data-driven decisions and monitor performance.
- Customizable and scalable CRM solutions allow insurance agencies to adapt the software to their unique needs and workflows.
- Many CRM platforms provide seamless integration with other tools and systems, ensuring a cohesive and efficient tech stack for your insurance agency.
What is Insurance CRM Software?
An insurance CRM software is a specialized solution tailored to address the unique needs of insurance brokers and providers, helping them manage leads, claims, and policies from a single platform.
Insurance CRM software allows professionals to better understand their clients, identify cross-selling and upselling opportunities, and deliver personalized services.
How to Evaluate Insurance CRM Software
Here are some essential factors to consider before you choose the right insurance CRM software for your business.
Features and Customizability
The insurance CRM software you’ll choose must be able to automate tasks such as lead management, policy handling, and claims processing. However, these features will only be beneficial if the CRM can be customized to your specific business needs and according to your operational structure.
Look for a CRM with a clean interface, customizable dashboards, and easy-to-understand reporting to ensure a smooth user experience.
Customer Support and Onboarding Resources
Effective customer support and onboarding resources are critical to successfully implementing insurance CRM software. Look for vendors who provide training materials, such as video tutorials, webinars, and written documentation. This can speed up the adoption process and get your team up and running quickly.
In addition, you should evaluate the quality and responsiveness of the software’s support team by reading reviews and considering any trial periods or demos offered by the CRM provider.
Pricing
The cost of the software can vary significantly depending on factors such as the number of users, storage requirements, and the range of features offered.
It's essential to balance affordability and value, ensuring the software provides the necessary features and functionality to enhance your insurance operations without putting undue strain on your budget.
1. FiveCRM
Rating: 4.4/5 (G2)
Key Features:
- Sales pipeline management: Visualize and manage the entire sales process, from lead generation to policy issuance, ensuring opportunities are tracked and nurtured effectively.
- Sales velocity: Monitor the speed at which leads move through the sales pipeline, identifying bottlenecks and areas for improvement to boost overall sales performance.
- SmartDialer: Enhance your telemarketing efforts with a built-in dialer that automates and optimizes outbound calling, streamlining communication with prospects and clients.
- Contact management: Efficiently store and manage client information, including contact details, policy data, and communication history, for quick and easy access.
FiveCRM transforms how insurance brokers and providers manage their customer relationships and day-to-day operations.
The software allows users to effectively handle leads, manage policies, and process claims, ensuring seamless workflows and improved efficiency. FiveCRM’s reporting and analytics tools provide valuable insights into customer behavior, helping you identify cross-selling and upselling opportunities.
FiveCRM offers a simple, all-inclusive pricing model, starting at $63/seat/month when billed yearly.
2. Salesforce Financial Services Cloud
Rating: 4.2/5 (G2)
Key Features:
- Unified platform: Consolidate operations on a single platform to reduce costs while providing comprehensive client insights and predictions.
- Claims tracking: Empower agents to file claims on behalf of customers, advocate for swift payment, and ensure effective claim management.
- Advanced automation capabilities: Boost efficiency and improve margins by automating routine processes and scaling client engagements.
Salesforce Financial Services Cloud is designed for the financial services industry. This solution offers a suite of tools for claims tracking, service innovation, mergers and acquisitions, and streamlined RFP submissions. All these enable businesses to reduce operational costs, innovate faster, and deliver better customer experiences.
Pricing starts at $225 USD per user per month when billed annually.
3. HubSpot CRM
Rating: 4.4/5 (G2)
Key Features:
- Reporting dashboard: Gain real-time insights into sales activity, productivity, and individual performance with a reporting dashboard.
- Company insights: Automatically enrich new contacts with valuable data from over 20 million businesses, providing in-depth information for insurance providers.
- Deal Tracking: Keep track of deals and progress, ensuring leads are effectively managed and nurtured throughout the sales process.
HubSpot CRM is a feature-rich solution that benefits insurance companies by streamlining their sales processes and improving customer relationship management.
One of HubSpot's key differentiators is its company insights feature, which automatically enriches new contacts in your database with data from over 20 million businesses. You’ll also get access to deal tracking and pipeline management tools to help organize and sort deals, ensuring no leads slip through the cracks.
You can start using Hubspot for free, but you must upgrade to a paid plan to access all its features.
4. Zoho CRM
Rating: 4.0/5 (G2)
Key Features:
- Efficient deal management: Track deals at various stages and seize opportunities at the optimal moment for maximum success.
- Workflow automation: Reduce manual work by automating repetitive tasks and improving efficiency.
- Advanced customization: Create custom layouts and components that apply to your business model.
Zoho’s lead management features allow users to capture leads, automate lead scoring, and identify leads with high conversion potential. With deal management, insurance professionals can efficiently track deals at various stages and seize opportunities at the optimal moment.
The platform’s workflow automation capabilities help reduce manual work by automating repetitive tasks. At the same time, its AI-powered assistant, Zia, offers lead and deal predictions to simplify decision-making for the sales team.
You can try Zoho CRM by signing up for a free trial, after which you can upgrade to a paid plan with pricing starting at $20 per user/month.
5. Microsoft Dynamics 365
Rating: 3.8/5 (G2)
Key Features:
- Single source of truth for BI: Centralize all business data to provide a unified view of your organization's performance and insights.
- Cashflow projection: Understand your financial position by accurately forecasting cash flow with advanced tools and analytics.
- AI-driven insights: Leverage artificial intelligence to gain actionable insights, optimize operations, and enhance customer experiences.
Microsoft Dynamics 365 helps insurance companies streamline their operations and improve customer engagement. By providing a unified platform that combines CRM and ERP capabilities, Dynamics 365 allows insurance professionals to manage customer relationships, sales, and financial data more effectively.
The platform utilizes artificial intelligence to deliver data-driven insights, enabling insurance providers to optimize their operations, personalize customer interactions, and make informed decisions.
6. Pipedrive
Rating: 4.2/5 (G2)
Key Features:
- Automated renewals: Streamline the renewal process with automated follow-ups and notifications, ensuring timely renewals and consistent revenue.
- Efficient claims management: Quickly assign and resolve claims using automation, increasing customer satisfaction and improving response rates.
- Unified communication channels: Manage customer communications across email, phone, and live chat within a single platform, providing a seamless experience.
Pipedrive enhances customer relationships, automates processes, and helps companies make data-driven decisions. It offers a range of features tailored to the specific needs of the insurance industry, such as automated renewals and efficient claims management.
The platform can also streamline sales processes by automating tasks and creating rules to meet service-level agreements (SLAs).
7. SugarCRM
Rating: 3.8/5 (G2)
Key Features:
- Marketing automation: Create campaigns, engage customers, predict needs, and measure marketing effectiveness.
- Sales automation: Streamline customer-facing processes and manage internal processes efficiently.
- Seamless integrations: Easily integrate SugarCRM with your existing tools and platforms.
SugarCRM helps insurance companies automate their marketing, sales, and customer service processes. Its marketing automation feature enables insurance providers to create targeted campaigns by engaging customers one-to-one at scale.
The platform also comes with predictive forecasting, providing proactive sales insights to help drive sales performance.
Pricing starts at $49 per user per month, which grants you access to SugarCRM’s sales automation suite of tools.
8. Insly
Rating: 4.5/5 (G2)).
Key Features:
- End-to-end claims management: Efficiently manage the entire claims process from notification to settlement.
- No-code/Low-code product builder: Easily modify product aspects, including forms, workflows, and documents, on the fly.
- Instant broker portal: Simplify product distribution with online applications, broker access, and integration with partners' systems.
Insly’s end-to-end claims management software supports any line of business and is suitable for insurers, MGAs, brokers, and TPAs. The platform can work as a standalone solution or integrate with other Insly modules or third-party systems for seamless integration into your existing tech stack.
The no-code/low-code product builder allows insurance companies to easily modify every aspect of their products without extensive technical knowledge.
Insly’s pricing structure differs from most CRMs, as they charge a fee plus a percentage of revenue. For more details, you must contact their sales department.
9. AgentCubed
Rating: 2.8/5 (G2)
Key Features:
- Efficient lead routing: Streamline lead distribution to sales teams for improved response times.
- Policy and renewal management: Effectively manage client policies and easily handle renewals.
- Consolidated agency operations: Bring together all aspects of your agency's operations in one unified platform.
AgentCubed is a cloud-based, insurance-specific CRM solution designed to help insurance companies automate workflows, enhance sales operations, and scale their businesses.
The platform enables efficient lead routing to sales teams, ensuring faster response to potential clients. It also simplifies policy and renewal management, allowing insurance companies to better serve their customers. AgentCubed's capabilities include evaluating sales operations performance, managing and monitoring customized proposals, and automating sales and marketing communications.
10. Zendesk Sell
Rating: 4.2/5 (G2)
Key Features:
- Call and text: Log, record, and reference calls, as well as send and receive texts directly from leads, contacts, or deals.
- Sales engagement tools: Build targeted prospect lists and create customized email sequences for automated lead follow-ups.
- Smart lists and templates: Easily segment and filter leads and deals in real-time, saving frequently accessed data views for quick reference.
Zendesk Sell boasts a complete set of features covering the entire customer lifecycle, including contact and deal management, activity tracking, and lead generation capabilities.
The platform also provides full pipeline visibility through its reporting and analytics features, allowing insurance companies to forecast sales and manage their sales process effectively and accurately.
Zendesk Sell pricing plans start at $19 per seat, per month for basic functionality. If you want access to all the features, you must upgrade to the Sell Professional plan, which starts at $99 per user per month.
Elevate Your Insurance Agency with FiveCRM
Experience the power of customization and data-driven insights with FiveCRM, a CRM solution tailored to meet the unique requirements of insurance agencies. Unlike other tools on this list, FiveCRM offers up to 999 fully customizable workspaces to adapt to your specific workflows, ensuring maximum efficiency and effectiveness in managing your insurance business.
With FiveCRM's powered analytics, you gain access to key customer and business metrics dashboards, providing immediate insights to fuel your decision-making processes and optimize your workflows. Make informed choices and stay ahead of the competition by leveraging data-driven strategies.
Request a personalized demo today and see how FiveCRM can help you exceed quotas and improve your bottom line.
FAQs: Insurance CRM Software
Q: What is insurance CRM software?
A: Insurance CRM software is a specialized solution designed for insurance brokers and providers to manage leads, claims, and policies from a single platform. It helps insurance professionals understand their clients, identify cross-selling and upselling opportunities, and deliver personalized services.
Q: How can insurance CRM software benefit insurance agents?
A: Insurance CRM software can automate critical processes such as policy renewals and claim assignments, saving time and reducing errors. It offers multi-channel communication options, enabling agents to engage with clients through their preferred channels. Advanced analytics and reporting features help agents make data-driven decisions and monitor performance. Customizable and scalable CRM solutions allow insurance agencies to adapt the software to their unique needs and workflows.
Q: What factors should I consider when evaluating insurance CRM software?
A: When evaluating insurance CRM software, consider the features and customizability. The software should automate tasks such as lead management, policy handling, and claims processing, while also allowing customization to fit your specific business needs. Evaluate the quality of customer support and onboarding resources provided by the vendor. Pricing is also an important factor, balancing affordability and value.
Q: What are the key features to look for in insurance CRM software?
A: Key features to look for in insurance CRM software include sales pipeline management, sales velocity tracking, smart dialer for telemarketing, contact management, unified communication channels, reporting dashboards, company insights, deal tracking, marketing automation, and seamless integrations with other tools and platforms.
Q: What are the key features of FiveCRM for insurance agents?
A: FiveCRM offers sales pipeline management, sales velocity tracking, a smart dialer for telemarketing, and contact management. It allows insurance professionals to effectively handle leads, manage policies, process claims, and track customer behavior. FiveCRM provides reporting and analytics tools for valuable insights into customer behavior and cross-selling opportunities. Pricing starts at $63 per seat per month when billed yearly.
Q: What are the key features of Salesforce Financial Services Cloud for insurance agents?
A: Salesforce Financial Services Cloud provides a unified platform for insurance agencies to consolidate operations, manage claims, and automate processes. It offers features for claims tracking, advanced automation capabilities, and a unified view of client insights and predictions. Pricing starts at $225 USD per user per month when billed annually.
Q: What are the key features of HubSpot CRM for insurance agents?
A: HubSpot CRM offers a reporting dashboard, company insights, and deal tracking. It allows insurance agents to gain real-time insights into sales activity, engage with customers using personalized data from over 20 million businesses, and manage deals throughout the sales process. HubSpot CRM is available for free, with paid plans for accessing additional features.
Q: What are the key features of Zoho CRM for insurance agents?
A: Zoho CRM offers efficient lead management, workflow automation, and advanced customization. It enables insurance professionals to capture and score leads, track deals at various stages, automate repetitive tasks, and make data-driven decisions. Zoho CRM provides a free trial, with paid plans starting at $20 per user per month.
Q: What are the key features of Microsoft Dynamics 365 for insurance agents?
A: Microsoft Dynamics 365 offers a single source of truth for business intelligence, cashflow projection, and AI-driven insights. It helps insurance companies streamline operations, accurately forecast cash flow, and gain actionable insights to optimize operations and enhance customer experiences.
Q: What are the key features of Pipedrive for insurance agents?
A: Pipedrive offers automated renewals, efficient claims management, and unified communication channels. It helps insurance agents streamline the renewal process, assign and resolve claims, and manage customer communications within a single platform. Pipedrive also automates tasks and creates rules to meet service-level agreements (SLAs).
Q: What are the key features of SugarCRM for insurance agents?
A: SugarCRM provides marketing automation, sales automation, and seamless integrations. It enables insurance companies to create campaigns, engage customers, measure marketing effectiveness, streamline customer-facing and internal processes, and integrate with existing tools and platforms. Pricing starts at $49 per user per month.
Q: What are the key features of Insly for insurance agents?
A: Insly offers end-to-end claims management, a no-code/low-code product builder, and an instant broker portal. It allows insurance companies to efficiently manage the claims process, modify product aspects without technical knowledge, and simplify product distribution through online applications and broker access. Insly's pricing structure varies, and you must contact their sales department for more details.
Q: What are the key features of AgentCubed for insurance agents?
A: AgentCubed is a cloud-based CRM solution designed specifically for insurance companies. It offers features for efficient lead routing, policy and renewal management, and consolidated agency operations. AgentCubed helps automate workflows, enhance sales operations, and monitor sales and marketing communications.
Q: What are the key features of Zendesk Sell for insurance agents?
A: Zendesk Sell provides features for call and text logging, sales engagement tools, and smart lists and templates. It helps insurance agents manage calls, send texts, build prospect lists, create customized email sequences, and segment leads and deals. Zendesk Sell's pricing plans start at $19 per seat per month for basic functionality, with additional features available in higher-tier plans.
Michael King says...
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“Each client, and each of their campaigns, has its own unique specifications. We essentially needed to set up mini CRMs on one platform to meet those requirements.”
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