Technology has accelerated the pace at which businesses work. It has enabled businesses to do things quicker, easier, and at times even cheaper. Insurance companies are also leveraging technology and innovative solutions like CRM. However, some businesses avoid using CRM because they believe it to be time-consuming, both in terms of deployment and usage. Let’s explore the typical CRM implementation timeline before jumping into the myths surrounding CRM for insurance.
How Long Does it Take to Implement CRM for insurance?
The time you spend on implementing a new CRM solution for your insurance company depends on a number of factors. The period required could vary from a few months to a few years, depending on the size of the organization, Starting from the initial research stage to training and onboarding, team sizes, their skills and expertise, complexities of the workflows, and the current status against a digital-first ecosystem. As a result, the complete CRM for insurance deployment timeline is a difficult number to pin down.
Setting achievable goals based on the current metrics can take around a month. After that, businesses will usually need to set aside a couple of months for outlining feature requirements. Selecting a vendor, and negotiation should be done in a few weeks. Lastly, implementation of the new system and training of the workforce forms the bulk of the process and can take up as little as two months or much more.
Debunking Myths Surrounding CRM for Insurance
There are a number of myths surrounding CRM systems for insurance companies that are stopping a number of businesses from adopting CRM freely. Let’s debunk some of the most common misconceptions about Customer Relationship Management(CRM) software.
Small Companies Do Not Need CRM
The insurance industry is highly competitive and volatile. This has made CRM for insurance companies, no matter the size, a necessity. Small insurance companies that use CRM tend to have all their information organized, which results in better customer service. It also helps companies optimize their processes to boost efficiency.
CRM is Difficult to Use
A number of insurers worry that CRM systems are complex. However, the best CRM solutions for insurance agents are incredibly user-friendly, scalable, and flexible. They boast intuitive user interfaces and dashboards and can be learned in stages.
CRM is Expensive
Owing to the stiff competition in the CRM for insurance market, the prices of CRM software have considerably dropped. While some CRM solutions for insurance companies can be steeply priced, there are several popular solutions that are affordable.
How an Effective Insurance CRM Software Can Save You Time?
It is a myth that it takes a lot of time to deploy and use a CRM system. Rather, time-saving is one of the best benefits offered by a great CRM software for insurance companies. By deploying a CRM solution, insurance companies can quickly capture optimized leads, save time spent on manual data entry, automate marketing efforts, and improve coordination within the company. CRM systems also consolidate all the client and lead data in a centralized, easy-to-access location, thereby helping insurers save time and drive productivity.
Wrapping it Up
It is evident from above that CRM can save insurance companies a lot of time. A modern-day CRM system not only helps insurance companies make sales more efficiently but also arms them with next-gen tools that make the selling process faster. To capitalize on the benefits offered by CRM for insurance companies, deploy one now. With the right CRM solution, insurance companies can skyrocket their productivity and profits. Needless to say, take the relevant factors into account while picking out the best CRM for insurance agents.