4 Ways Agents Can Use Tech to Retain Clients

Jenna Trott

5 min read | FEBRUARY 28, 2023

During such inflationary periods, the everyday policyholder isn’t concerned with the intricacies of the insurance industry, but rather their individual policies. If they notice a significant surge in their premiums upon renewal, despite not having filed a claim, they are not only going to have questions, but can become reasonably upset about why they were left in the dark. Oftentimes, the result is the client switching accounts; and they are! Over the last year, 33% of insurance customers switched providers. This is why it becomes paramount to take the time to clearly communicate client policies and any changes to rates. Success will come from a collaborative approach, with all stakeholders working together to identify how the agency can most effectively meet the customer’s needs and uncover opportunities to mitigate costs. The result will be building relationships that are long lasting and meaningful. The question that remains is, how? Salesforce recently conducted a survey that offered important insight. It reveals that 76% of customer inquiries are initiated through one channel and are visible to agents in other business areas. Yet, only 24% of executives have reported that customer requests to mid-to-back-office agents are fully connected and integrated. What’s more, a significant 56% of those surveyed revealed that only some functions are unified, leaving other areas entirely unconnected. With poor connection comes poor relationships, further exacerbating a client’s decision to leave – but especially so in periods of high inflation. Here’s how agents can utilize technology to close communication gaps, help educate policyholders and ultimately retain clients.

1. Delivering Better Information – Faster

Salesforce offers a suite of integrated applications and tools designed to help insurance companies deliver better information to their agents. In addition to centralizing all critical information in one location, Salesforce’s AI-powered analytics and reporting tools provide real-time insights into key performance metrics, such as customer engagement rates, claims processing times, and revenue generation. This data enables agents to identify trends, anticipate customer needs, and make data-driven decisions that can help boost sales and improve customer satisfaction. Highly intelligent cloud-based analytics delivers superior visualizations and predictions directly in the Salesforce customer account or opportunity page. It helps determine reps’ next best move whether they’re closing a deal or resolving a customer issue. This significantly decreases the amount of time agents would ordinarily spend searching for information, and helps answer questions or concerns more quickly.

2. Increase Communication

Put simply, policyholders like to be in the know. Keeping your clients up to date and educated about industry trends and changes can not only help them to feel more comfortable, but it can also aid in retention rates. However, frequent, one-on-one conversations with all of your clients can quickly become time consuming, and quite frankly – it isn’t that feasible. However, by utilizing mass communication tools, agents can quickly share information with a newfound efficiency. Salesforce offers a number of tools to help streamline and increase insurance agencies’ level of communication with policyholders. This is accomplished with automation capabilities. Insurance agents can automate email and SMS communication to policyholders at regular intervals to keep them informed about policy updates, premium payments, and other relevant information. What’s more, it makes sending reminders easy. Automation can help both the agent and client by sending payment reminders, policy renewal notices, and claim status updates. These days, 70% of customers have more favorable views of businesses that offer or contact clients with proactive customer service notifications. So, whether it’s by phone, email, chat or social media – stay proactive about keeping your clients in the loop.

3. Help Educate your Clients

By empowering your clients to make informed decisions about their insurance policies, they are more likely to renew them. With Salesforce’s targeted marketing capabilities, insurance companies can effectively educate their policyholders by segmenting them based on demographics, interests, and behavior. This ensures that clients have easy access to relevant educational content, such as blog posts, videos, and webinars, that address their specific concerns and questions. Moreover, insurance companies can also provide additional support through FAQ articles, which can help alleviate any anxieties that policyholders may have about entrusting their insurance policies to your organization. Salesforce helps insurers build stronger relationships with their clients by providing the tools and resources they need to make informed decisions and feel confident in their insurance choices.

4. Make Personalization a Priority

Personalization has become a crucial factor in retaining insurance policyholders. With the rise of digital technology, customers are now expecting a personalized experience that caters to their specific needs and preferences. By using data-driven insights, insurance companies can personalize their communication, marketing, and customer service efforts to effectively engage policyholders. Salesforce is a powerful platform that enables insurance companies to personalize their policyholder’s experience in numerous ways. With Salesforce, they’re there for the birth of a child to set up a new beneficiary, to provide your sixteen year-old with a policy for their new car, and are there to guide you through the claims process after a death. With Salesforce, insurance companies will always be there for the moments that matter most. Personalization is considered a key driver of customer retention in the insurance industry, and insurers that prioritize personalization are likely to see higher levels of customer satisfaction and retention.

Ready to get started?

These days, leveraging technology like Salesforce is crucial for companies to stay ahead and meet the evolving demands of their clients. With a wide range of features and benefits like, seamless integration with other systems, customizable dashboards and reports, and automated workflows, Salesforce has become an indispensable tool among financial institutions. Access Global Group’s team of certified experts know Salesforce inside and out. This means that when they come to you, no stone is left unturned and they’re able to solve any conflict with agility and accuracy. Regardless of where you are in the digital transformation journey, Access Global Group will provide customized solutions that align with your goals so you can focus on not only reaching them, but going far beyond what you thought was possible. Our unique project methodology of customer centricity allows us to provide intuitive solutions that are acutely catered to your organization’s needs. And as your premier Summit Salesforce Partners and Consulting Services/Managed Services experts with over 15 years in the industry, we’ll use our technical expertise to meet your unique needs and generate real change within your organization.

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