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The Value of CRM in Insurance Management


If you are new to the business, or used to the archaic methods of the past you may not fully understand or appreciate the power of a customer relationship management (CRM) system. The value of a CRM system is invaluable, a paradox that I will explain.

Customer relationship management is a system for managing a company's interactions with current and future customers. It involves using technology to organize, automate, and synchronize sales, marketing, customer service, and technical support.

There are different types and variations of CRM. Some the main functions/variances are marketing, costumer service and support, appointments, non-profit and member-based, and social media. CRM systems for marketing usually track and measure projects or campaigns over multiple medians, such as search, e-mail, social media, direct mail, and via cellphone. The system for costumer service and support manages clicks, responses, and leads. CRMs of this nature can also be used to create, assign, and manage inquires made by customers. An example of this would be a call center software which would direct customers to costumer service agents.

CRM software can also be used for reward programs. Appointment CRMs serve more or less like an automated secretary by which the CRM provides available appointment times to customers via e-mail or through other medians. Then the appointments are synchronized with the agent's calendar. CRM systems are available for specific markets as well, but these often have to be made tailored to a client's request. For example, a CRM can be design for the finance market. Be cautious though, having a CRM designed is expensive. CRM, especially in this day and age, can also manage social media so as to establish and sustain relationships with existing and new costumers.

Some CRM systems integrate social media sites like Twitter, and Facebook to track and communicate with customers. So that costumers can provide valuable feedback on products, services, and experiences that can be us to identify trends. Through these trends businesses can be proactive in their management, execution, and direction.

Lastly, there are CRM systems for non-profits and/or membership-based organizations. This type of CRM deals with an organization that needs to interact with its users on a more invested level. For example, users must log-in to use the services provided, or log-in to gain more added features that enhance the consumer experience. Further more, just like with other CRMs, you can manage projects, facilitate fundraising, etc. What you should have noticed is that your business may demand the tools of several different CRMs. No worries, many CRMs out in the market include modules that offer the complete CRM experience. The way I have organized the CRM industry is just an orthodox was of looking at how it can be used. In terms of programming, it is just a matter of putting in the extra time and effort to put it all together in one bundle.

With that being said, I wanted to provide you with a clear takeaway. CRMs are meant to streamline your supply chain, management, and services in such a way that as a business you will be more efficient, more productive, and will be able to deliver higher quality work. In other words, having a CRM is a must for your business.

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