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Speed Up Digital Adoption by Insurance CRM Salesforce

salesforce for insurance

The insurance industry has, albeit belatedly, embraced the inevitability of a global digital transformation. Top insurance companies have realized that innovative technology needs to improve customer interactions, increase agent productivity, and create profitable business models.

A Novarica study found that 63% of insurers planned to migrate to the cloud in 2019, and this number will grow in 2020-21. A Deloitte survey also found that 95% of respondents are already speeding up their digital transformation in order to maintain sustainability. This is the same trend that CFOs need to follow in order to grow and improve efficiency.

Insurers are actively exploring the potential of emerging technologies such as AI, APIs, microservices, chatbots, robotic process automation, big data, smart assistants, IoT sensors, and wearables. However, many in the industry still lack an end-to-end digital strategy and the IT specialists needed to implement it.

Salesforce for insurance companies

Powerful smart technologies FSC for insurance Salesforce optimize the sales process and increase the conversions and productivity of agents and brokers. This can be divided into two categories:

  • Off-the-shelf software. This is based on core modules such as contact directories, interaction trackers, and reporting tools. It comes in packages with immutable functionality.
  • Custom solution. This is a completely customizable software solution built from scratch. It adds the modules, including enterprise-level tools, solutions for marketing and communication, etc. By ordering an individual system, consumers save time and money, as they receive only what they need to work.

With a ready-made solution, you will have access to the framework with the most popular modules. However, insurance industry experts argue that custom solutions are more beneficial in the long run.

Here's what CRM can offer the insurance and finance industry:

  • Database organization - CRM merges and stores all information about consumers: contacts, orders, transactions, health plans, previous interactions, and policies.
  • Lead management - CRM tracks and stores the data of incoming leads from the promotional campaigns to the final conversion. These are knowledgeable about the current status and activity, and documents related to potential clients.
  • Formulation of tasks - CRM automated insurance software organizes and manages the entire sales process through dashboards. The program sets tasks and updates them in real
  • Problem reports - The apps generate accurate messages without human error, so you can get the information you need on time.
  • Tracking emails - Delivered as an add-on, this module combines tasking, reporting, and analyzing functionality related to your email campaigns.
  • SMM processing - This additional tool manages company profiles on social networks and accumulates statistics on likes, reactions, comments, and orders.
  • Mobility - As the second tier of insurance commission programs, mobile apps empower employees and users.

Salesforce Financial Services Cloud for insurance

In late 2019, Salesforce upgraded the Financial Service Cloud with insurance novation, bringing together policyholders, insurers, and agents. The new capabilities of Salesforce for insurance agents enable them to reach out to policyholders through their chosen channels, intelligently prioritize tasks, and personalize customer relationships.

In addition, the Salesforce FSC promises increased speed with features tailored to the needs of the insurance and financial services industry, a dedicated insurance data model, and pre-configured integrations with Guidewire and Duck Creek.

With the innovations of Vlocity Insurance and Salesforce Customer 360, core insurance processes now span the entire policy lifecycle, from policy administration, claims management and billing, to quotes and underwriting.

Financial Services Cloud for insurance can increase customer management productivity by 75% and leads by 50%. Recent improvements to the out-of-the-box functionality for Salesforce FSC insurance are comprised of:

  • Agent and Service Representative Console - For easy access to current policy and claimed data and informed coverage recommendations.
  • Lightning Flows - To automate general customer service requests by any channel and app.
  • Life Events - To predict customer needs with event triggers that link major life events to possible coverage adjustments.

Innovations in Salesforce FSC have made the product even more attractive to execs, insurance agents, brokers, and customers. Salesforce's close collaboration with key industry players, such as State Farm, positions it as the best system for interaction between State Farm's 19,000 employees.

Salesforce CRM for insurance agents and brokers

Salesforce CRM improves the quality of customer service and helps insurance agencies better interact with their customers. For example, it stores important data regarding already insured people or those looking for a new policy.

Innovations in Salesforce FSC have made the product even more attractive to executives, insurance agents, brokers, and customers. Salesforce for the insurance industry gives agents the tools for more personalized communication on any device, to track new opportunities, collaborate on social media, optimize service requests, and more. They have a complete overview of all service requests sent through the Internet, email, social media, and call centers.

With the Salesforce for insurance, brokers will generate a quote in minutes, track customer history, see more cross-selling opportunities, provide more personalized support, and move up the career ladder faster.

Enhancements to Einstein Analytics for FS provide agents and brokers the intelligence capabilities to optimize their activity. For example, built-in analytics can help agents conduct ownership and churn risk analysis to maximize retention. Insurance policyholders could apply for auto insurance and send photos of accidents through the mobile application.

Community Cloud for Financial Services enhancements provide out-of-the-box templates for quickly deploying branded portals for brokers, distributors, and independent agents. It helps insurance agencies transform their investments into client success and expand the ecosystem.

You can combine Salesforce solutions like Sales, Service, and Community Cloud, and add add-ons such as Einstein Analytics.

salesfore fsc for insurance

Salesforce for health insurance

To unleash the full potential of Salesforce, companies are integrating Health Cloud and its new suite of software tools, Health Cloud for Payers. Its goal is to help insurers integrate claims data, medical records, and customer interaction tools into a single platform. Connecting medical solutions accumulates information about insurers all in one place, so agents can decide faster and participants can receive answers with personalized recommendations.

Here are additional Salesforce Cloud features that can be tailored to the insurance industry:

Amendment of claims for damages

Filling in several fields after logging into the system occurs automatically, and the finished claim redirects to the correct department with the information on priority, category, etc., and it will notify the responsible group of a recent case. With features like Contact Us or Chat, you will directly connect to an agent through the preferred communication channel.

Fast processing claims

The system accumulates integrated quotes for claim-handling processes. Using approval flows, the employee processes the claim and then submits the solution for approval, disapproval, or additional review. Chatter will allow you to communicate with colleagues directly on the claim and access the data when needed. Analytics will help reduce the number of fraudulent claims.

Customer support from a single platform

Service Cloud helps you stay connected with your customers across all channels (phone, email, social, chat, web, etc.). Salesforce FSC insurance data model is based on the Sales and Service Cloud object structure. Data models adapt to create a foundation for industries that require a structured and flexible B2C data model.

Self-service optimization

Salesforce Communities’ customer portal is integrated with Live Agent and Knowledge, a knowledge base that integrates directly with Service Cloud. It helps to reduce the number of contacts and expenses. With automation, customers and potential clients can use self-service apps to enter their information, request a quote, and purchase a policy. Self-service portals to contact insurers are used by every fifth client.

Real-time reporting

This displays all data in real-time on standard dashboards or Salesforce Wave (BI). Dashboards make it easy to track the total amount of claims (distributed by months, weeks, days, hours, etc.), the annual contract value for the entire client portfolio, and follow the search in the knowledge base.

Accurate forecasts

By using Sales Cloud, you have a complete view of your pipeline. Automation will alert sellers not only to the insurance experience but also when they last passed an insurance check. You can easily see how revenue split between new and existing customers, by segment, age, geography, etc.

Personalized marketing approach

With Marketing Cloud capabilities, a company can design a detailed customer journey that is individual for each member. It is based on the care plan, comorbidities, previous interactions, or any other useful information. The cloud allows for social media monitoring, email marketing, and analytics. You will control the quality of customer service, personalize it, and adapt it to the area you need.


The insurance industry is constantly growing toward personal experiences, predictive analytics, real-time internal and external collaboration, and away from paperwork. Salesforce's solutions appeal to the flexibility, customization, and many other features companies will need in order to adapt to rapidly changing business environments. It can scale from a few people to the enterprise level, but you need certified Salesforce partners to take control of the process.

Ergonized implements and develops fully customized Salesforce CRM and apps for various businesses, including those for the insurance sector. We offer customers a full-service pack that includes data implementation/migration, upgrades, training, maintenance, and customer support. Moving to a Salesforce digital platform boosts the trust and transparency of policyholders and provides your customers with a more personalized experience!

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Written by

Arthur Koryaka

Starting from 2007, Arthur managed to successfully help automotive, insurance and healthcare industries to adopt a CRM system. As an experienced consultant, Artur proved his practical knowledge by passing certifications for the different Salesforce roles. Over the years, Arthur is developing his expertise in the financial industry and helps clients migrate to Finance Sevices Cloud.

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