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Is Your Agency's CRM Built For Insurance?

Posted on December 22, 2016 by Daniel Taibleson in Digital Insurer

How often do you hear stories of insurance agency’s failing to meet their sales targets? Yet, when you dig a little deeper, you realize they have with no real understanding of where their problems lie. Too often, their sales processes rely on charisma, intuition and a good dose of luck. But in a world as complex as ours, those skills are not enough....they need to be partnered with 21st century technology.

Incredible advances in technology are allowing companies to restructure their sales approach and create systems that give owners a deep understanding of the strengths and weaknesses of their sales funnel. And it's working. Studies show that sales professionals who leverage the power of a Customer Relationship Management software (CRM) are 50% more likely to reach their quotas than those relying on traditional methods.

The Changing Consumer

In our always-connected world, consumers have become accustomed to businesses that engage them in intimate, ongoing relationships. Companies like Facebook, Google and Amazon spend vast resources on creating personal relationships with their customers, and are rewarded with life-long loyalty. When it's done well, consumers enjoy this type of engagement, and being to expect it from the companies they engage with. If they don't get it they are willing to move on, which explains why almost half a trillion dollars of insurance premiums were in play during 2014.

Consumers respond well when they sense their insurance agents know and care about them. Your CRM should allow you to gather and store relevant data across multiple channels to create a full portrait of the consumer and their needs. That data will deliver opportunities to build customer loyalty and create more attractive products. Vertafore believes that "to best serve the digital customer, you need technology that helps you take an active role in reaching out to customers and prospects, and creating demand for your products."

Your Internal Processes

It's not only consumers who will feel the difference. An easy-to-use CRM has a profound influence on a company's internal processes. By simply standardizing and structuring your data collection methods, you create a more confident, responsive organization. New hires get up to speed quickly, prospective leads are captured effectively, and the system no longer relies on one or two individuals to keep track of sales. Performance can be tracked and measured in real-time, allowing for better forecasting.

What it boils down to is a clear understanding of your sales process. Warren Barhorst, the founder and CEO of Iscential explains, "If you’re not measuring it, you have no way of knowing what is driving the problem. You really have to leverage technology to do this."

Where to begin

Start with a few simple questions. How are we capturing leads? What do we need to know about them? When and how should we follow up? These types of questions help you to develop an effective CRM system that will provide relevant, usable data.

Make sure your CRM is user-friendly, accessible and built into the fabric of the company across all departments. Remember that everything interaction and every transaction is an expression of who you are as a company. A good CRM lets your create and manage those interactions in ways that are beneficial.

The key concept is consistency. A good CRM creates a solid foundation that a team can build on in a sustainable manner that will do wonders for your sales process.

*Download this e-book from Vertafore for a comprehensive guide to using CRM for increased sales.  


daniel taibleson headshot blog vertafore

Daniel Taibleson

As a content marketing manager at Vertafore, Daniel acts as the Editor-in-Chief of the blog, uncovering and telling stories about the intersection of insurance and technology.



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