Is Salesforce CPQ worth it? How Salesforce CPQ Accelerates Insurance Sales

Jenna Trott  |  DECEMBER 07, 2023  |  5 Minute Read

In today’s rapidly evolving and fiercely competitive insurance landscape, refining sales processes and maximizing revenue serve as ways to guarantee your differentiation from others in the market. Manual sales methods are more often than not laborious and error-prone, causing deal closures to lag and opportunities to slip away. To tackle these hurdles head-on, enterprises are leveraging cutting-edge solutions such as Salesforce Configure, Price, Quote (CPQ). Salesforce CPQ, a robust cloud-based software, is tailor-made to automate and refine the sales journey, empowering insurance firms to swiftly generate precise quotes, expedite deal closures, and drive revenue expansion. In this article, we’ll be exploring what exactly Salesforce CPQ is and why it’s a strategic choice for insurers looking for long-term, sustainable growth in the coming years.

What is Salesforce CPQ?

Before delving into how Salesforce CPQ can transform your company, let’s take a look at what exactly it is. Salesforce Configure, Price, Quote (CPQ), serves as a robust sales tool that empowers companies of all industries and sizes. For insurance companies specifically, this cutting-edge solution automates complex pricing calculations, product configurations, and proposal generation. Automation not only streamlines the sales process but empowers teams to provide accurate and customized quotes swiftly, thereby raising the bar on overall customer experiences.

Six Signs That You Need CPQ

For organizations to achieve profitability, they must operate with a much leaner sales process, working in a way that maximizes revenue without putting a strain on resources. Even if you’re confident in your current sales quote generation, there are subtle signals pointing to clunky sales processes that your team could improve with Salesforce CPQ. Here are six signs that your insurance company could benefit from Salesforce Configure, Price, Quote:

1. You Rely on Legacy Quote Configurators
Relying on outdated legacy quote configurators presents several pitfalls for businesses, including inefficiencies, limited customization, errors, scalability issues, and a lack of actionable insights.

2. The Speed of Revenue Growth Surpasses Your Operational Capacity
When the speed of revenue growth outpaces your operational capacity, it can strain your sales processes, leading to several challenges. This situation can result in delays, errors, and an overwhelmed sales team, potentially causing missed opportunities and dissatisfied customers due to slower response times or inaccuracies in quotes.

3. You’re Establishing a Recurring Revenue Flow
Establishing a recurring revenue flow without a powerful CPQ system poses significant challenges. Manual handling impedes growth, leads to errors and inconsistencies, limits customization opportunities, complicates renewal management, and causes operational inefficiencies.

4. You Need Realistic Ways to Implement More Advanced Business Solutions, Like Artificial Intelligence
If you’re looking to implement advanced solutions like AI, CPQ acts as a crucial link, enabling seamless integration with sophisticated tools and technologies. Without CPQ, manual processes hinder data accuracy, preventing AI systems from leveraging reliable inputs.

5. Inaccurate Sales Quotes are Being Sent to Potential Clients
The lack of a strong CPQ system leads to inaccuracies in sales quotes sent to potential clients due to manual errors, pricing complexity issues, validation gaps, limited customization, and inefficient approval processes. Without CPQ automation, there’s a higher risk of human errors, challenges in managing complex pricing, and the potential for rushed or incomplete quotes that don’t meet client needs.

6. Every Sales Quote Undergoes Manual Review
If every sales quote requires manual review, it hints at inefficiencies in the process, causing delays in client responses and potentially impacting deal closures. Relying on manual checks not only increases the chance of errors but also affects quote accuracy and credibility. Further, it signals a lack of streamlined processes and automation.

The Benefits of Salesforce CPQ for Insurance Sales

Implementing Salesforce CPQ can truly revolutionize insurance sales processes, bringing forth a wave of efficiency and an acceleration in revenue. Let’s take a look at the top five ways Salesforce CPQ accelerates insurance sales:

1. Streamlined Quote Generation
Generating quotes manually can be a time-consuming and error-prone process. With Salesforce CPQ, insurance sales teams can generate quotes swiftly and accurately. The software automates the entire quoting process, from product configuration to pricing calculations, ensuring consistency and accuracy. Sales reps can easily access predefined pricing rules, discounts, and bundling options, enabling them to create customized quotes that meet the unique needs of each customer. This streamlined quote generation process saves time, allowing sales teams to focus on building relationships and closing deals.

2. Enhanced Sales Efficiency
Salesforce CPQ empowers insurance sales teams to work more efficiently. The software provides a centralized platform for managing product catalogs, pricing rules, and approval workflows, fostering collaboration and communication across departments. By automating time-consuming tasks such as data entry and documentation, Salesforce CPQ frees up valuable time for sales reps to focus on building relationships with customers and identifying new sales opportunities. This increased efficiency translates into shorter sales cycles, faster deal closures, and improved productivity for insurance sales teams.

3. Accurate Pricing and Proposals
Pricing errors can have a significant impact on the profitability of insurance sales. Salesforce CPQ eliminates the risk of pricing mistakes by automatically applying predefined pricing rules and discounting policies. Sales reps can generate accurate quotes and proposals that reflect the latest pricing information and product configurations. This ensures consistency in pricing and reduces the risk of revenue leakage due to incorrect quotes. With Salesforce CPQ, insurance companies can instill confidence in their customers by providing accurate and transparent pricing information.

4. Upselling and Cross-Selling Opportunities
Salesforce CPQ provides insurance sales teams with real-time visibility into product bundles and pricing options, enabling them to identify upselling and cross-selling opportunities. By presenting customers with relevant add-ons, upgrades, or complementary insurance products, sales reps can increase the overall deal size and maximize revenue. The software also enables sales teams to easily configure and present multiple options to customers, allowing for personalized and tailored recommendations. This strategic approach to upselling and cross-selling improves customer satisfaction and drives incremental sales growth.

5. Data-Driven Insights and Analytics
Leveraging data and analytics is crucial for insurance companies looking to stay competitive in the market. Salesforce CPQ offers advanced reporting and analytics capabilities, providing valuable insights into sales performance, quote-to-cash cycles, and deal profitability. Insurance sales teams can access real-time data and generate reports to measure their sales strategies’ effectiveness and identify improvement areas. These data-driven insights enable sales managers to make informed decisions, optimize sales processes, and drive revenue growth.

In the fast-paced and competitive insurance industry, streamlining sales processes and driving revenue growth are paramount to success. Salesforce CPQ offers insurance companies a powerful solution to accelerate sales cycles, improve efficiency, and maximize profitability. With streamlined quote generation, enhanced sales efficiency, accurate pricing and proposals, upselling and cross-selling opportunities, and data-driven insights, Salesforce CPQ empowers insurance sales teams to excel in their roles and deliver outstanding customer experiences.


Insurance companies are dedicated to safeguarding their clients’ interests and providing protection against unexpected events. But who can insurers trust and rely on to help achieve their goals? This is where Access Global Group (AGG) shines, offering a unique combination of global deployment expertise and the flexibility of a boutique firm. With a strong track record spanning over 15 years across diverse industries and holding the prestigious Summit (Platinum)-level partner status, AGG goes above and beyond to meet and exceed the needs and expectations of your financial institution.

With a client-centric project methodology, Access Global Group ensures that your requirements and aspirations guide our solutions. Our extensive experience with Salesforce and the financial services industry underscores our ability to provide tailored solutions that perfectly align with your business objectives.

We eagerly invite you to share the challenges your insurance company is currently facing, so we can offer our highly curated solutions that can help propel your business forward.

From proposals to quotes, contracts and more, Access Docs allows users to create and send consistent and accurate documentation to clients in a few simple clicks.


A seamless connection between Salesforce and QuickBooks. With automation of key processes, this application works to eliminate manual and duplicative efforts to empower your team.



A seamless connection between Salesforce and QuickBooks. With automation of key processes, this application works to eliminate manual and duplicative efforts to empower your team.



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