Topic – Customer Relationship

Management in Insurance Sector

Name : Bhumika Busa

Roll No : 1920315
Introduction
 CRM may be defined as:

Finding getting & retaining customers

Building long lasting relationship
Software and internet manage customer relation
Meeting needs of customer
 Advantages of CRM in Insurance Sector

Personalized Experience
Superior Customer Service
Sales Opportunities
Repeat Business
Personalized Experience
Customers love it when they are made to feel
special ! Offering a personalized experience make
them feel that they have some individual value of
to the company has taken the time to understand
his / her requirements.
Superior Customer Service
Gone are the days when the price was the primary
factor that prospective customers considered while
purchasing a product or service.
Sales Opportunities
Another major benefit of insurance CRM is that it
helps agent in indentifying the sales opportunities.

Repeat Business
If you are a sales guy, irrespective of industry, most
of your time would be going in communicating and
staying in touch with existing customer. Because
they cant only refer but also cross sell option.
 Disadvantages of CRM in Insurance Sector

Costly
Training
Security Issues
Eliminate Human Element
Costly
Implementation of CRM system requires huge cost to
be spent by the business. It increases the overall
expenses of business and may not be suitable for small
business.

Training
For proper functioning of CRM, trained and qualified
staff is required. It takes huge cost and time for
providing training to employees regarding CRM system.
Security Issues
Another Major drawback with CRM is the insecurity
of data collected and stored. All of the data
collected and stored at one centralized location
which has a treat being lost or hacked by someone
Eliminates Human Element
CRM has eliminated the involvement of humans as
it works on a fully automated system. Which data is
collected and proceed automatically through CRM
software
 Best Insurance CRM Software

Fresh Sales
 Zoho CRM
 Fresh Sales

Freshsales, a product of the Freshsales software suite, is a

great option for use as an insurance CRM. It’s especially
well – suited for those who want to track customer
engagement and stay on top of interaction and tasks.
Freshsales also has a free forever plan, so you may be able
to use it at no cost if you don’t need additional features.
 Zoho CRM

Zoho CRM is a popular insurance CRM and offers affordable pricing as well as
a wide range of plans and features for teams of all sizes. Among its standout
features are third – party integration and automations that make it easy for
you to stay on top of deals and keep in touch with prospects and clients.
Thank You