8 Best Insurance CRM Software 2024

The best CRM for insurance agents might be your key to success, whether you're an independent insurance agent, broker, or need a feature-rich customer relationship management (CRM) solution for your agency's team.

Many insurance professionals use a variety of technologies to run their businesses, with CRM software being one of the most crucial. General-purpose CRMs with good marketing and sales tools, as well as CRM for insurance brokers, are available to the insurance business. CRM software with additional features like commission management and claim resolution. To assist you in making the best decision, we examined a range of possibilities and identified seven that stand out the most.

To stay afloat in a crowded, risky market, you need a CRM for insurance. An insurance CRM can help you deliver fast, affordable, and personalized service. You can also better calculate risk (and potentially avoid huge payouts) through data analytics and 360-degree customer profiles.

Creatio	HubSpot	Zoho

What is insurance CRM?

Life insurance agent CRM is a vital tool that can help in the development of long-term relationships and customer retention. It takes care of all those tedious duties for you, such as lead capture, workflow management, and activity tracking. You name it, and it'll do it.

Insurance CRM software is tailored to the needs of insurance companies and agents. It allows them to operate more efficiently in order to convert more prospects into clients. In today's world, an automated data procedure is essential for responding to a wide range of requests and queries. So, in order to stand out from the crowd, you'll need CRM for health insurance agents.

Challenges an insurance agent faces regularly

As an insurance agent, you face a variety of difficulties that insurance CRM systems can help you overcome. You'll be dealing with a wide range of challenges on a daily basis, therefore you'll need something that can assist you in resolving them.

High competition rate

It's not uncommon to receive a message from a client, only to find out that they've already gone on to a competitor by the time you react. You may have made them wait for 24 hours or less, but when they're ready to pounce, they're not going to wait that long. They'll leave if there's any delay in your response because they have plenty of alternative options that are as good as you or better than you.

It may sound harsh, but there are plenty of insurance agents in your community. Although the insurance agent is not to blame, you will still need to go above and beyond to guarantee that your duties are performed on time so that your company may reach its full potential. A health insurance agency management software can assist you in optimizing your workflow so that you can stay on top of these responsibilities.

Fragmented sales process

You can always save your data in a spreadsheet or document, but this type of fragmented data won't allow you to aggregate all of your information in one location. You won't have a complete picture of your clients or process if you do it this way, thus you won't be able to identify gaps in your current system. With so much data at your disposal and no method to keep it structured, you'll soon lose touch with clients, find it difficult to acquire new ones, and be more prone to mistakes. These manual methods are inefficient and will affect your business in the long run.

Poor workflow

For many businesses, inefficient workflows create a considerable disadvantage. Manually handling jobs wastes a lot of time and results in low productivity. When you're processing new policies, renewals, and follow-ups without any help, keeping up effective communication becomes nearly difficult.

Challenging lead generation

Clients gravitate toward organizations that provide the services they require. If the client is going through numerous stages and the process of figuring out what you are all about seems to be difficult, they'll abandon it sooner than you think.

The more complicated it is, the less interested they will be in what you have to give. People want to choose options that are less time-consuming while also giving more value. Creating prospects and converting them into clients necessitates a strategy that can be implemented quickly.

Lack of retention

It's discouraging that you can't keep consumers, but you have the power to change that. The best CRM for independent insurance agents may support your entire insurance process and assist you in identifying inefficiencies in your current one so that you can improve it.

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Benefits of CRM Software for Insurance Agents

Any insurance agency or company that does not have a CRM is falling behind its competitors that have installed one. Here are a few of the primary benefits:

Improved Customer Relationship

Life insurance CRM software must be kept to a high standard. Insurance CRM solutions provide agents with 360-degree views of their customers as well as complete interaction histories. It can send out reminders and follow-ups to ensure that consumers are never forgotten.

Enhanced Data Management

Insurance policymaking requires a great deal of data. Every customer has unique requirements and conditions. CRMs are databases that are well-organized. They enable agents to exchange and update critical information, as well as access it at any time and from any location.

Agency Management

Insurance companies are among the world's most powerful businesses. Insurance agent client management software can assist major insurance companies in managing various agencies across multiple locations. They're also ideal for running the complete operation of small boutique agencies.

Better Sales Forecasting

Forecasting and trend spotting may be made more accessible with the best insurance CRM for sales. This helps agencies develop new campaigns and ensure that they have the necessary personnel and resources at the appropriate times. It can also be used to set budgets or develop new insurance products.

Reporting and Analytics

Insurance agency CRM collects information and can organize it for you based on a variety of KPIs. These KPIs are frequently adjustable as well. It may provide you with real-time and up-to-date sales information as well as individual agent performance statistics.

Related article: CRM Requirements Checklist

How Does a CRM insurance system work?

When it comes to CRM for insurance company, insurance agents have a lot of alternatives. Because no two CRMs are alike, certain of their functions or key features may differ. Nonetheless, I was able to extract the most common functions that may be found in any software.

When it comes to managing patient relationships, it's important to choose medical CRM software that meets the unique needs of your healthcare organization.

Reports

These will show you how many leads your agency sold in the previous month, which leads are going from one disposition to the next, and which leads have recently become more qualified. You must keep track of these critical metrics in order to identify areas that require improvement. To assess if your sales process is effective, you should run a new and updated report every week or month.

Calendar and Tasks Notifications

Good CRM for insurance companies will not only collect your contact information but will also send you appointment reminders and other notifications on a regular basis. In this manner, you may feel comfortable that your business efforts are on the proper course. This is a critical feature that every insurance sales tracking software must have.

Email and Auto-responders

Because it includes email marketing tools, this is a somewhat advanced CRM function. Insurance agents will be able to contact their leads through it without having to leave the CRM application. It's a fantastic feature that helps you save time. You can arrange automated messages to be delivered to your leads depending on specified situations using auto-responders, which are part of the email capabilities.

Commissions Tracking

Commission tracking is available in more advanced CRM for insurance carriers, which allows you to keep track of all your commissions. Assigning specific plans, premiums, or firms to a lead's file is one way to do it. As a result, it helps in the reduction of your tax payments. Aside from that, this feature comes in handy when you want to find out which companies have yet to pay commissions.

Lead Dispositions

You'll quickly learn that not all leads are ready to buy or sign the contract as soon as you ask them. This happens because not all leads who indicate they aren't interested in buying what you're selling are completely honest. You can see which leads are worth prioritizing and following by labeling them according to their purchase cycle.

Dialing or Calling Out

These two functions are usually built-in and help you save time. Agents can utilize the best insurance CRM program to contact their leads and clients without having to use their mobile phones. This will also save money for agencies by eliminating the need for additional software such as a dialing application.

Efficient workflows

This is a relatively new feature of CRM insurance software. Workflows help insurance agents save time by automating parts of their daily tasks based on how their leads are handled. An introductory email to all new leads in your database, for example, could be used as an example.

Lead Routing for Agencies

Individual insurance agents don't need this functionality as much as insurance firms do. All insurance agencies, from small to large, require lead routing since it allows them to channel their leads.

Document Attachments

Document attachments are a secondary feature that may or may not be as important as task reminders. It does, however, allow you to attach specific files to a case, which will aid the agents in keeping track of personal correspondence, rate increases, and policy updates in the future.

Integration with Outlook Google

This, in my opinion, is one of the most valuable aspects the best insurance CRM can have. Maybe you only want to utilize a specific email service. This CRM feature allows you to connect your CRM program to a particular email provider. You won't have to move between two programs as much this way.

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Key Features of CRM Software for Insurance Agents

CRM software began as a tool for sales reps. While insurance agents sell products, they also perform a number of activities that are unique to the insurance industry. The best CRM software for insurance agents should cater to the industry's specific business requirements. When shopping for a customer management solution, look for one that includes features like:

• The ability to track commissions
• Automated workflows and sales automation
• Management of claims
• Management of policy information
• Email marketing templates and automation 
• Management of insurance quotes and applications

A client management system for insurance agents' capabilities, such as the ones described below, will significantly boost your overall efficiency.

Related article: CRM Evaluation Criteria

Improve ROI with a CRM

If you thought a CRM was only for automating business processes, you should look at the statistics. When your work process is streamlined, you'll see an increase in productivity and, as a result, a higher return on investment. According to statistics, the correct CRM may boost productivity by 55%, enhance sales quotas by 45%, lower labor costs by 60%, and strengthen client relationships by 58%.

These statistics demonstrate how CRM for medicare agents may have a major impact on a company's revenue. So, what do you have to lose? Get a CRM that adds value to your job and allows you to expand your business without limits. However, make sure you choose a CRM that meets all of your team's and company's needs.

Choose the right insurance CRM that meets all the needs

• Capture prospects seamlessly

You need to grab potential clients at the start of your sales pipeline so you can begin building a relationship. Even better, a CRM can help you increase conversion rates by up to 300%. You need to be able to attract and convert nearly every client who comes your way, and a simple system can help you do that.

• Automated lead allocation

For increased efficiency, you may now effortlessly assign leads to sales representatives and brokers. So you don't lose out on any leads, CRM for insurance agents provides automatic lead management and allocation. It keeps all of the important information and enables streamlined allocation, allowing your agents and brokers to get started and contact potential prospects right away. This automated process saves time and allows you to manage all of your prospects from a single page.

• Affordable and scalable

The hope is that your company will grow beyond your greatest expectations. However, if your best insurance agency broker management software assists you in getting there but then fails to maintain up, it is effectively useless. An effective CRM will enable you to expand, remain effective at all stages, and remain cost-efficient.

• Customizable features

Examine the CRM for insurance agents' features and add-ons to ensure that it offers what you require at a price you can afford. Because you have different policies than other agents, you'll want to be sure the CRM can be tailored to your needs. It will be easier for you to use if you customize the features and interface.

• Quick and effective support (Team Inbox)

If you're working with a group, you'll need to collaborate in the space. A team inbox will not only help you connect with clients more effectively, but it will also allow you to assign essential tasks, manage activities, and provide a smooth experience for both your office and the client.

• Keep track of all activities

Have you ever wondered whether your coworkers are actually working or just pretending to? So, keep watch on their every move to guarantee that the work is completed on time. Using this tracking function, you may keep track of, plan, and organize your sales activity.

• Sell on the go with mobile CRM

Working outside of the workplace is more frequent these days than it used to be. You must be able to access your insurance broker management software from anywhere, which very certainly means having an app on your phone or another portable device.

• Upsell and cross-sell opportunities

A good CRM for insurance will ensure that you don't miss out on any opportunities. It will show you where you can upsell or cross-sell a client on a service you believe they require. It has the potential to promote income and growth.

• Manage and update policies

You must be able to easily adjust your insurance policies as they change. A customer relationship management system (CRM) can help you to make sure you don't forget about a policy, a customer, a clause, or a term. When you make modifications, you can let the customer know about it.

• Develop client trust

When you employ an innovative CRM for life insurance agents, you'll be able to automate operations that speak for themselves. When your clients aren't aware of any flaws in the process, they are more likely to trust it. Customers are less inclined to consider switching if you keep them satisfied.

What is the best insurance agent CRM software? Our top 8 list:

- Creatio

Creatio offers a specialized solution designed to automate insurance workflows and CRM processes without the need for coding. With this solution, you can efficiently orchestrate the entire insurance policy lifecycle, automate the various stages of an insurance claim, and establish streamlined digital workflows for reviewing, investigating, and resolving claims. Additionally, you can reduce the time-to-market for introducing new insurance products and benefit from other advanced features.

What we like

• In terms of customer experience, Creatio empowers you to enhance customer satisfaction by leveraging unified, customer-centered data that provides actionable insights.
• By personalizing interactions, delivering relevant information, and making intelligent recommendations, you can increase both up-selling and cross-selling rates. Moreover, Creatio enables accelerated execution of customer-centric processes, resulting in time savings and added value for each customer.
• Creatio boasts an extensive client base within the insurance industry. Notable organizations such as Ringler Associates, Heritage Insurance, Blue Cross Saskatchewan, MetLife, and many others have chosen Creatio as their preferred solution provider.

Drawbacks

• Due to the extensive range of functionalities offered by Creatio, users might need to dedicate some time to learn the platform and comprehend its intricacies in order to unlock its full potential.

Pricing

Creatio provides you with a 14-day free trial for you to test all the features available. Creatio offers a number of various editions and composable pricing, which allows users to select the edition that best fits their business model:

• Growth starts from $25/user/month. Provide automation to SMB clients.
• Enterprise starts from $55/user/month. Enable full-scale automation for corporate and enterprise needs.
• Unlimited starts from $85/user/month. Deliver limitless automation for advanced enterprise scenarios.

All Creatio licenses include a basic plan for support, product maintenance, and free updates. More information:  https://www.creatio.com/products/pricing.

You also can get a free demo with CRM experts and choose an option.

- Radiusbob

Radiusbob provides insurance agents with lead management and CRM software. The word "bob" in its name stands for "book of business," which is a fun tidbit. Because it was created expressly for the insurance sector, Radiusbob is one of the most commonly used insurance software systems. It helps agents and huge organizations communicate with their insureds more efficiently. It's an insurance broker management system with a lot of customization options, including the ability to buy phone services for contact centers.

What we like

• It has a lot of interesting insurance agent CRM features, such as marketing automation through automated workflows and email marketing.
• It will help you automate your sales with functions like lead distribution rules and quote engines; It will help you automate your marketing activities through automated workflows and email marketing.
• You will find high-quality and lucrative leads in a short period of time using this software.

Drawbacks

• Mobile app.
• Flexible pricing.
• Customer service is only available during business hours.

Pricing

Pricing starts at $34/month. RadiusBob offers a 14-day free trial.

- AgencyBloc

AgencyBloc was created with the needs of life and health insurance agencies in mind. It's the most popular insurance agency CRM software. This health insurance CRM is jam-packed with insurance-specific functionality, such as a commissions calculator.

What we like

• Specifically created for health and life insurance companies.
• Using a simple CRM/agency management system, you can organize, automate, and develop your business.
• To automate your internal and external interactions, use email marketing skills. Processing commissions saves you time and money.

Drawbacks

• Customer support is limited to business hours.

Pricing

Pricing starts at $65/month. AgencyBloc offers a free trial.

- Zoho CRM

The Zoho CRM software may be customized for use in a variety of sectors, including insurance. Agents use it to keep in touch with their insureds, create leads, and automate operations to save time. You can engage with policyholders through a variety of channels, including email, phone calls, live chat, and social media, with this CRM for insurance agencies.

What we like

• Task and project management in insurance firms might be more agile.
• A powerful CRM solution that includes full sales process management tools.
• To convert cold leads into clients, AI makes predictions and makes suggestions.
• AUM solutions for the insurance business to handle 'assets under management.
• Google G Suite tools are integrated.

Drawbacks

• The basic CRM system lacks the insurance agency's more complex features.

Pricing

Zoho CRM costs $12, $20, $35, and $45 per month per user, paid annually. A free version and a free trial are also available.

Read a Detailed Zoho CRM Overview

 - Freshworks

Freshworks CRM has a system designed specifically for insurance agents. The program is designed to assist agents in increasing efficiency and developing a relationship-based business. This free CRM for insurance agents allows agents more time to engage in meaningful connections with their insureds by helping them automate and streamline processes like paperwork and meeting schedule. Freshworks has a "Free Forever" plan that allows you to add as many users as you like.

What we like

• Your CRM initiatives, as well as the entire CRM process, will be eased in a variety of ways with this program.
• It has a proactive artificial intelligence assistant.
• This platform has excellent workflow automation features.
• There are a number of built-in communication options.

Drawbacks

• You won't be able to access reports if you're on the Free plan.
• The lack of lead creation tools is definitely a drawback.
• Some consumers claim that deciding which plan would be the best fit for them was difficult.

Pricing

Offers “Free Forever” plan. Premium plans start at $29/user/month when billed annually.

Read a Detailed Freshworks Overview

- Insureio

Insurance agents can use Insureio software to handle leads and expand their book of business by utilizing sales and marketing automation. Insureio, for example, allows agencies to compare quotations from over 40 leading carriers for life, disability, and annuities.

What we like

• For this marketing and sales CRM, insurance expertise is required.
• For the customer lifecycle, there is a lot of automation.
• Features for completing insurance applications.
• Real-time reporting and deep analytics.

Drawbacks

• You’ll need the premium versions to run an insurance agency.

Pricing

Insureio’s price begins at $25 per month, with plans going up to $75. Insureio offers a 30-day free trial.

- Salesforce

Another popular CRM that would be ideal for an insurance agency or a single insurance agent is Salesforce. This platform has a lot of valuable capabilities, but some of them can be a little tough to use, especially if you've never used versatile software like this before.

What we like

• Salesforce's larger financial services package includes this feature.
• Policyholders can use self-service tools.
• Assists with customer-agent interactions.
• You receive the Salesforce marketing and sales toolkit.

Drawbacks

• It’s expensive.

Pricing

Salesforce Financial Services Cloud costs $150, $300, or $450 per user per month paid annually.

Read a Detailed Salesforce CRM Overview

- HubSpot CRM

HubSpot is a market leader known for its extensive CRM software and marketing suite, which includes powerful features such as online chatbots, email marketing, campaign tracking, and lead capture forms on the website. Although some of their premium levels have high prices, you can start using their CRM for free, with an unlimited number of users.

What we like

• Unlimited users are included in the free plan.
• Email templates and tracking.
• A user-friendly interface that is intuitive and simple to utilize.

Drawbacks

• Plans for larger groups that are reasonably priced.
• Reporting options are limited.
• On the free plan, there is limited support.

Pricing

• Free: For unlimited users (limitation on features).
• HubSpot for Startups: Ranges from $40 to $89 per month.
• HubSpot Marketing: Ranges from $45 to $320 per month.
• .HubSpot Sales: Ranges from $45 to $1,200 per month.
  Get Free eBook "Detailed HubSpot Overview"

Conclusion

It was the list of best CRMs for insurance agents. The ideal insurance-specific CRM system depends on a number of factors, including the size of your company and the products you sell. Agencies can use their agency management system's CRM to their advantage. Individual agents, brokers, and small firms may find that CRM software tailored to the insurance industry provides the best value. In any case, it's critical to conduct research and identify the technologies that will best support your company's growth.

Discover How to Choose the Right CRM for Your Business