Your marketing campaigns may have specific goals. It could be something like reaching a particular consumer segment or increasing brand visibility. For instance, Coke’s Share a Coke campaign aimed at increasing the consumption of Coca-Cola during the summer. Dove’s Real Beauty campaign or the Always #LikeaGirl campaign addressed social cause.

campaign management software - Dove's LikeAGirl campaign

If you noticed, these brands did not advertise only on a particular channel. They used blog posts, social media posts, video conferences, along with traditional TV ads and billboards. However, the catch is – marketing efforts are successful when they target the customers on the platforms/channels where they are most active. Thus, you need to monitor the engagement rate, activities and reach of your campaigns on different channels. Now, this is where campaign management software comes into the picture. It helps you align your marketing strategies and manage activities across several channels to achieve maximum ROI from your campaigns.

In this article, we will discuss in what ways campaign management software improves marketing ROI. So, let us dive into the details.

What is campaign management software?

Campaign Management software is a digital tool that enables sales and marketing teams to plan campaigns, track their performance, measure the effectiveness of different channels and copies, and automates reporting & analysis of marketing campaigns to a granular level.

It allows marketers to schedule and promote ads by integrating different platforms and customer data sources. Often companies use CRM software or marketing automation suite for campaign management.

The benefits of using campaign management software

Marketing communication has changed over time and has become more interactive. Earlier, a support center was the medium for communication between brands and customers. Now, brands engage directly with the audience through blog posts, social media, video conferences, and more. Marketing campaigns often have a lot of moving parts. It is because a campaign runs through multiple platforms – both online and offline.

Brands now have campaign managers who run such campaigns. They are responsible for the distribution of marketing collaterals, as well as tracking their performance. Managers optimize the campaign strategy over time by looking at how well the current one is performing. To automate routine tasks like report generation, auto-response to a customer query, and scheduling posts, campaign management software comes in handy. 74% of marketers agree that automation saves time. 45% of agencies depend on automation technologies for their ROI.

Campaign management software brings transparency as well in addition to automation. Over the last few years, automation has taken over in different workplaces. Companies now need less staff to get something done. Automation does not necessarily replace people, but they assist people in getting the job done faster and more accurately, allowing them more time to concentrate on strategy. Implementing automation in marketing increases operational efficiency to a great extent.

Brands use different kinds of software to manage campaigns. Often these programs include project management programs, CRM solutions, to-do lists, and more. However, there are also dedicated programs that allow working on complicated projects collaboratively. Here are the remarkable benefits of using software for campaign management.

Reduce lead acquisition time

Campaigns require thorough planning before their execution. Often campaigns are time-sensitive. For instance, brands can target the Super Bowl or the Christmas holidays for an advertisement campaign. Brands can launch new products during the back-to-school season or give a stock-clearance sale on Black Friday. Planning a campaign takes time. However, by using the right software, brands can reduce their lead acquisition time from weeks to days.

improved lead tracking

Campaign management software also helps brands to schedule emails or posts on social media. They can automate complex workflows so that all the stakeholders know what to do at the right time. This workflow management will ensure that the marketing collaterals are distributed at the right time and will reach the audience accordingly.

Reduce staffing cost

By using the right software, brands can drastically cut down the costs of the sales and marketing department. An effective campaign does not require a fifty-person marketing department. Now, brands can use software to nurture and monitor leads. Automated campaigns take a little time to set up. Campaign managers can define what action the software will take when certain events are triggered. Once the software is online, it acts automatically. Management can set the software to handle interactions with the audience. Humans can step in for more serious conversations. Automation reduces the need to have a well-staffed department. A few competent people can supervise sophisticated campaigns without breaking a sweat.

Plan multi-stage campaigns

The multi-stage campaign is a technique where the brands communicate with the audience in stages.

For example, for a product launch, the brand can first introduce the product in a launch campaign. In the next drive, it can reveal the pricing and specifications. The subsequent campaigns can be about availability and offer on the product.

Breaking the campaign into smaller pieces makes sure that the audience does not forget the products. It creates a buzz (or sensation) and curiosity for the products. With campaign management software, it becomes easier to schedule these events. The manager can plan the activities ahead of time, decide the order of events, and automate them. Once all the assets are ready, the company can create emails or posts and schedule them.

Design multi-channel and omnichannel interactions

Multi-channel marketing is essential since you must be there where your customers are. Nowadays, consumers have a lot more control over the buying process. Also, the consumer can get information about the product from various channels. They judge products/services based on reviews – even if it is from people they never met. Therefore, the brands need to be available on these channels to communicate with potential consumers.

However, while targeting multi-channel, marketers must know the customer activities across all channels. For example, a customer posted negative feedback about your product on Instagram. Your social media manager informed you about the customer, and you decide to call the customer to address the concern.

Now, if you will ask the customer that what his/her concerns are, then that person would say – I have already mentioned it on Instagram, and you must refer to that.

Instead, if you will ask the customer that you have understood his/her concerns, and here is the solution, then it will impart a good brand impression on the customer.

The point is – if you are aware of the customer interactions across different platforms, then your communication can be more effective.

Omni-channel engagement - lead nurturing

Omnichannel communication is a very consumer-friendly approach that allows the consumer to choose their preferred channel. The essence of omnichannel communication is that communicating parties can seamlessly switch channels without having to start over. It ensures the continuity of conversations. For example, a consumer may find a campaign compelling and contact the brand via the web form. Later, they can continue talking via social media or instant messaging without losing context.

Campaign management software allows brands to run campaigns across multiple channels simultaneously and unify customer interactions across different channels.

Manage campaign workflows

Software for campaign management comes with custom workflow management. The workflow management feature is crucial for setting up complex schedules. It allows the brand to prioritize what is important and act accordingly. To make a campaign effective, a brand must ensure that the campaign sticks to the cost and time budget. With workflow, teams, and time management becomes much simple. Plus, some programs have automated scheduling features. With automated scheduling, the program can automatically assign tasks and roles to employees. Automation in marketing can increase the number of qualified leads up to 451% (source: business2community). The software can also manage external agencies and vendors who are involved in the campaign.

Case study: how to increase enrollment rates through marketing automation:

Target the right audience

For any campaign, targeting the right audience is extremely crucial. Campaign management programs can mine customer information and break it up into segments. It will make it easier for brands to understand their customers and target them accordingly through specific campaigns. The programs can consider customer details and more, including transaction history and channel preferences. Brands can also leverage this information to create cross-channel campaigns and target the appropriate groups.

Schedule set-it-and-forget-it email campaigns

Email campaigns are still one of the most effective ways of getting in touch with your audience. Campaign management tools can help generate automated personalized emails to build better customer relationships. One can set up email campaigns quickly. There are a lot of mature tools available that can help with email templates. Also, it is outright easy to capture and analyze data. With campaign management tools, you can schedule emails in advance and roll them out all at once or in stages. Scheduled emails are a great way to stay on time. It is particularly useful for multi-stage campaigns.

Manage and control your budget

With automation, it is easier to track resources. Brands can set a pre-allocated amount of resources for a campaign. However, if one is not careful, overshooting these limits are common. It happens a lot during creative campaigns. The software will help create a workflow respecting the constraints. Manually managing campaign resources can be challenging. With a proper plan set up right at the beginning, brands can optimize time and resources. Moreover, you can shortlist the platforms/channels that work for you and accordingly adjust your spending across platforms.

Advanced Marketing Analytics & Sales Insights | LeadSquared

Track progress

With campaign management software, one can track user engagement in interactive and visual dashboards. You can see how users are interacting with the marketing collaterals across different channels. Marketers can change content on the fly to improve engagement. Tracking progress is also crucial to check if the campaign has a positive reception from customers. It will allow the brand to respond to the issue immediately.

Analyze campaigns and generate reports

Brands can also use dashboards to understand if the campaign has reached its goal. When a brand plans a campaign, they have specific targets in mind. It can be launching and promoting a new service or a product or targeting a segment of the audience.

Goals should always be achievable and measurable. Otherwise, marketers will not be able to quantify success. Therefore, brands need to define their marketing goals with numbers. An example would be the goal of a 10% increase in sales. This goal can be analyzed using the dashboard of campaign management tools.


Time is precious in the current business scenario. To stay competitive, companies must focus on automating repetitive marketing tasks. Several types of marketing campaigns are a tried-and-tested method of engaging customers. However, campaigns have evolved a lot over the last few decades. Campaigns are no longer just newspaper and radio advertisements. They are interactive digital content. Managing such campaigns on different channels can be expensive if not managed well. Brands need to spend time and money to get them right. In such scenarios, mistakes can be quite costly. For instance, if a campaign has a negative reception, then it might tarnish the brand image. In those cases, damage control can be even more expensive. Hence, brands must be extremely diligent while planning and executing campaigns. Using automation helps avoid mistakes while reducing time and cost. In turn, this also improves the return on investment.

If you are looking for campaign management and end-to-end customer relationship management, then you must try LeadSquared sales and marketing CRM software once.

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The most common reason why businesses struggle with cashflows is outstanding receivables. It is a big bummer for businesses when the customer does not make repayments on-time. Of course, debt collection is difficult and challenging. But it has become even more strenuous due to the spread of coronavirus. 

In 2019, the total outstanding mortgage debt in the United States amounted to 16.01 Trillion. And this number has been increasing continuously since 2012. With the impact of coronavirus, the outstanding debt will continue to rise in 2020 as well. However, one person that can help businesses to reduce their outstanding debts and remain afloat is an efficient debt collection agent.

Tips for Debt Collection Agents

Of course, the job of a collection agent is difficult. It is challenging to contact people, discuss debt, and find a viable repayment plan. But these jobs are continuously increasing in popularity. According to the Bureau of Labor Statistics, the debt collection jobs will grow by 19% in the decade. 

While the jobs are increasing, businesses are looking for stable, efficient collection agents. 

In this article, we will discuss 17 tips to become a successful debt collection agent. These simple tips will help you collect more repayments. Let us get into more details and discuss some useful collection strategies. 

17 Tips to Become a Successful Debt Collection Agent

1. Improve Your Listening Skills

First and foremost, you must improve your listening skill. Of course, you are the best tracer, investigator, and have exceptional skills to locate debtors across regions. But when you contact the debtors, it is crucial to listen to their concerns. When you call the debtor and state the reason for the call, wait for them to answer. Even if they take a long pause, let them break the silence. There is always a story to tell. Let them tell it. Therefore, improve your listening skills. 

2. Manage Emotions 

It is natural for debtors to get worried when you call them. They might cry, yell, and hang up your call. However, when they tell you their story and the reason they cannot pay, show compassion. You must become a bit more sensitive. You have to manage yours as well as their emotions. People might have a genuine reason for a default or a delay, especially first-time defaulters who hold an otherwise good repayment history. Rather than getting angry, offer a solution for debt repayment. For instance – different options for payments. 

3. Take Time 

Debt collection agents often make the mistake of rushing to conclusions. Rather than running through your phone call list, take your time and speak slowly. Speaking in a well-paced voice will allow the debtor to understand your message clearly. And when your messages are clear, your performance will also improve. That is, you will be able to influence your debtor for repayment or Promise to Pay (PTP). 

4. Do Your Research

Before you call the debtor, do some initial research about the account. Get to know the payment history, the due amount, among other things. When you know the facts, you are in a better position to handle the debtor. Moreover, you can also leverage your research during the negotiation process. For instance, a debtor cannot claim that he/she is broke when you see they bought a new car on Facebook.

debt collection call script ebook

5. Use technology and productivity tools

Software solutions like Debt Collection CRM is an efficient tool to digitize the recovery process – from borrower segmentation to debt recovery prediction and guided team actions. It helps you prioritize cases, plan/schedule meetings, automate communications, and reminds you to contact debtors when the Days-Past-Due (DPD) is close. 

By using such tools, you’ll be able to free your mind for a healthy conversation with the borrower. 

6. Remain Realistic

You will come across debtors who cannot make repayment. Being realistic will help you understand the situation, thus, allowing you to find a suitable solution for the debtor. 

7. Follow a Clear and Concise Approach 

There is no good in deceiving the debtor. Therefore, try to maintain a clear and concise approach. Spell out the collection terms clearly and concisely for the debtor. Being transparent with debtor is the best way forward.

8. Be Persistent 

Being persistent in your approach will help you become a great debt collection agent. Do not give up if the debtor refuses to pay, hangs upon you, or gets rude at you. Therefore, consistently follow with the debtor and try different methods. You never know which recovery method will work. 

9. Maintain Professionalism 

It is essential to maintain a professional approach when you are working as a collection agent. You cannot get into unnecessary arguments and confrontations with the debtor. The customer might try to push you into the argument and drive your attention away from the objective. But you should stick to your goals without getting flustered with customer arguments.

How to build multi-channel communication with debtors - ebook

10. Understand Laws and Regulations 

A debt collection agent needs to understand and comply with the laws and the regulations. You must follow the rules made by FDCPA to ensure that you are working within the law. If you do not follow the rules, you might find yourself dealing with several legal issues. Therefore, stay within the legitimate limits while dealing with the debtor. 

11. Negotiate Clearly

When you are negotiating, maintain a thoughtful and efficient approach. You should let the debtors know what you expect from them. Also, let them know the arrangements as part of the negotiation process. In other words, let them know how the procedure will work going forward. Additionally, do not try to trick the debtor during the negotiation.

[Additional resource: 10 Debt Collection Call Script Samples as Per FDCPA Guidelines]

12. Ask for Comments

Once you clearly state the repayment deal, ask for comments. It will tell you how receptive the debtor is towards the potential solution. Ask them if they think it is an acceptable solution or not.  

13. Confirm the Deal in Writing 

As soon as you reach a new deal with the debtor, make sure you put that in writing. Put down all the details of the repayment solution and ask the debtor to sign the document. It will ensure that they understand and agree with the deal. 

14. Explain the Consequences

Once you sign the deal with the debtor, ensure that they understand the consequences of not paying on-time. It will ensure that the debtor is aware of the situation and will live up to the agreement. 

15. Follow Up

After agreeing to the repayment plan, follow up to ensure that the debtor is making payments on-time. Following-up with the debtor is one of the traits of a successful debt collection agent. If the customer is not paying on-time, take necessary actions immediately.

[Also read: bad debt recovery strategies]

Learn how to digitize collections for faster debt recovery!

16. Document everything and maintain regular updates

Record your interactions with the debtor. Also, note these interactions so that if a debtor does not pay even after he promises to pay, the lender might need to send field agents to contact him. 

Many lenders use debt collections CRM to empower their teams and agents to track and follow-up with defaulters efficiently, predict recovery, and enable faster debt collection. You can also ask your manager for such productivity tools.

17. Help Your Colleagues

Whenever you can, offer some debt collection tricks and tips to your colleagues. You are only successful if your team is successful. Moreover, there is no better joy than the joy of sharing knowledge and wisdom.

Final Thoughts

The process of debt collection is strenuous and emotionally taxing. However, to become a successful debt collection agent, you must follow these tips. Understanding and working with your debtor is the only way to make the payment towards their debt. If you let your emotions control you, you cannot become a successful debt collection agent. Therefore, have a more proactive approach rather than being reactive towards the situation. 

If you want to improve the productivity of your collections team, track and follow up with defaulters, predict the chances of debt recovery, and enable faster collections, then you must try LeadSquared Collections CRM. By using this software, several lending institutions like Qbera have successfully improved the efficiency of their DSAs by over 55%.

Debt Collection FAQs

What does a collection agent do?

A collection agent represents a collection agency or lender and reaches out to customers to collect payment for overdue bills or loans. A debt collection agent acts as the liaison between creditors and customers. Collection agents can pursue debtors via phone, emails, or by visiting in-person.

How can I be a good debt collector?

To be a good debt collector, you must follow FDCPA (Fair Debt Collection Practices Act), document every interaction, do not be emotional, make a debtor understand the terms, and use technology to be more productive.

Read further:

The insurance industry has struggled with legacy systems and siloed infrastructure for a long time. The increasing adoption of digital, and customers’ rising affinity towards InsurTechs have made Insurers realize that only a transformative approach can let them survive and thrive in a fast-moving digital world.

The root cause of inefficiency in insurance operations is manual processes and the lack of agility in trying new technologies.

To remain competitive in a fairly saturated market, Insurers need to let go of manual, time-consuming processes. Optimizing both front-end (for superior customer experience) and back-office operations is the need of the hour. Intelligent process automation in insurance can resolve most of the operational challenges. Let’s see how. 

Intelligent Process Automation in Insurance Industry (IPA)
In a hurry? Download Digital Sales & Operations in Insurance Ebook to read afterward. 

What is intelligent process automation?

Automation solutions integrated with artificial intelligence (AI) is transforming the insurance business ecosystem. It is opening new possibilities and addressing challenges that were impossible to implement before. Intelligent Process automation (IPA) can automate the entire insurance workflows. At the same time, it allows the system to learn, improve, and adapt to the changes as it moves forward.

One of the widely used use cases of intelligent process automation in insurance is that of using Machine Learning in automating underwriting, identity verification, and fraud control.

Some of the largest global insurance institutions are already leveraging automation principles to drive value and save exorbitant expenditures while increasing their profits. 

In another instance, Acko registered a 40% increase in insurance sales per agent after implementing Insurance CRM software for sales process automation.

The need for insurance process automation

Automated software applications carry out more tasks than humans can accomplish, supplement their manual efforts, and even perform tasks that go beyond human capabilities.

The key to operational excellence, digital transformation, and improving customer experience is to automate workflows, wherever possible.

There is also an urgent need to explore the automation potential for manual processes managed outside of core system applications, such as invoice processing, insurance certificate generation, proposal, and claims, data entry, payroll audit, etc.

The Insurer workflows that still use legacy systems are overflowed with routine back-office operations and are heavily reliant on manual and outdated methods.  

Insurers also struggle with impediments such as duplicate and manual processes, contrasting and stranded legacy systems, multiple data sources that do not communicate with each other, scattered conversations, complex business models, and miscommunication in organizational structures.

The complicated workflows, time taking deployment of initiatives, and relying too much on manual intervention not only increases the company’s expenditure exorbitantly but also leads to a bad customer experience and lesser sales opportunities.

Advantages of intelligent process automation in insurance

Simple solutions like Insurance CRM can help Insurers streamline their basic workflow that relates to critical operations such as sales, marketing, support, underwriting, customer lifecycle management, and opportunity management.

The following workflow illustrates the automation in STP (Straight-through Processing) for insurance policy distribution.

Insurance CRM - straight-through-processing

1. Streamline data processing

Insurance companies need to manage large amounts of data. Data processing requires a lot of resources, such as labor, time, and money, when performed manually by humans.

Human-based tasks also multiply the possibilities of errors, which brings down the overall quality of operations and increases rework and risk.

Intelligent Process Automation makes data processing run without complications and errors. The result is faster and efficient data processing.

It also complements the human task force and enhances productivity by eliminating mundane and repetitive tasks.

IPA can prove fruitful for document-intensive tasks such as ID verification, processing data for quotation generation and approval, processing invoices of insurance claims, to name some.

2. Bridge the gap between legacy and contemporary systems

McKinsey estimates that up to 40% of P&C and life insurers’ expenses are locked up in their top 20 to 30 core end-to-end processes. One of the top reasons that most insurance companies and agencies are still reliant on legacy systems is due to the cost of overhauling the whole process.

On the other hand, delaying the adoption of new technology/tools can compromise the business. Therefore, the insurance industry needs a system that integrates the existing system and the new one.

Intelligent Process Automation can smoothly handle challenges such as frequent system updates, data migration, and integrating new software with older legacy systems. They also create an ecosystem where internal systems can easily interact with external companies, vendors, customers, etc.

3. Increases compliance, regulation, and protection

In the U.S., the insurance segment faces the same kind of scrutiny as the health sector does; the ever-changing laws that advocate individual privacy protection, regulatory compliances, audits (internal and external), claims process, and more.

These elements are obligatory requirements for insurance firms, which makes automation even more essential for them.

Software with IPA in place generates detailed logs of all transactions and from every source. It becomes easier to track the end-to-end processes and assure that every stakeholder is compliant with the government regulations. It also ensures that external audits are no longer an issue for insurance companies.

4. Achieve scalability

While scalability is every Insurer’s goal, only a few achieve it. For instance, due to the Covid-19 pandemic, the demand for health insurance products suddenly accelerated. In India, health insurance premiums saw a 13% YoY growth. However, Insurers took months to introduce relevant products and cater to the rising demand of customers.

Scalability corresponds to the capacity to be flexible enough to change in size to balance the demand-supply equation. When the demand is high, the system should be able to handle the additional work without additional resources. The insurance industry is heavily dependent on manual labor and requires a lot of resources to handle different tasks such as sales, marketing, legal, underwriting, and claims.  

Whenever there is an increase in customer acquisition or a claim, the workload drastically intensifies, and there is an imperative need to scale on demand.

Intelligent Process Automation increases the organization’s work capacity without additional costs or workforce. It reallocates the resources so that employees can focus on nurturing customer relationships, strategizing, driving change, managing exceptions, and implementing continuous improvement – giving the insurance company a strategic edge over its competitors.

5. New insurance product development

The insurance industry frequently adds new features or churns out entirely new products depending on Consumers buying trends, demands, requirements, and other factors such as regulatory laws, etc.  

Intelligent process automation is capable of mining through vast data and helps in predicting the next product or service innovation. By facilitating a sandbox approach, Insurers can test new products under a regulator’s oversight in real-time.

It reduces the risks of spending large amounts of capital and resources on products that have lesser chances of success.

In short, IPA in insurance can streamline the following activities:

  • Automated document processing
  • Perform agent setup
  • Calculate and present Insurance quote
  • Assign claims to relevant stakeholder
  • Manage products and services pricing
  • Manage and support distribution channels
  • Deliver policies
  • Evaluate fraud
  • Launch new and enhanced products and services
  • Optimize processes by reallocating workforce to core value-added tasks
  • Advertise and promote products and services
  • Produce bill and quote statement
  • Issue payment
  • Analyze the market and determine customer needs
  • Manage the selling process
  • Perform accounting
  • Perform reporting

Intelligent process automation in insurance use cases

  • Utilize online information to identify claim fraud patterns.  
  • Identify up-sell and cross-sell opportunities based on customer interaction patterns.
  • Improve customer experience through AI bots with natural language processing capabilities to manage customer service interactions
  • Analyze sentiments, intent, and behavior  to design customized insurance products
  • Speech analytics to understand customer perception for the brand
  • Improve efficiency by using machine learning methodologies to identify and repair process blockages
  • Use machine vision to assess the severity of damage to car/properties etc., using real-time video footage.
  • Identify risk attributes associated with customers for accurate underwriting.

Market disruptions by intelligent process automation in the insurance industry

We have looked at all the positive outcomes of implementing intelligent process automation for insurance companies. Let us also look at some market disruptions that IPA may cause in the insurance sector.

Intelligent process automation in insurance - reduction in manual processes
  • 51% of financial jobs are prone to be transformed by automation. 
  • Demand for skills in areas such as data analytics, machine learning, and the development of algorithms will increase. At the same time, business development, product, and marketing roles will also see its fair share of growth.
  • These skills will better enable insurance companies to build new insurance products and services using dynamic pricing strategies based on social profiling and lifestyle pattern intelligence and recognition.
  • Automation in digital marketing campaigns will also see a rise. The system will automatically profile customers and identify their needs.   
  • Operations such as policy servicing and reporting will be affected by automation with highly streamlined digital processes.
  • Back-office services will drop significantly with the sharpest FTE (Full-time Equivalent) shift and migration.
  • Roles will be created by the intelligent process automation in claims by leveraging technologies such as machine vision and optical character recognition to assist employees in resolving complex claim cases.
  • Employee-count in the IT and other support functions departments would decrease because of a standardized and automated process and the potential migration to automated cloud platforms and analytical tools. These drastic shifts will also lead to the creation of more fulfilling jobs in the transformed insurance landscape.
  • Underwriters and insurance agents of the future will use the tools that work with inputs provided by the cognitive system created by the intelligent process automation.
  • Insurance companies will need to upskill the different layers of the employee pyramid to re-deploy human resources into more complex, quality-controlled, judgment-intensive roles.

The bottom line

During this time of enhanced digitization, insurance companies need to react faster to the changes in the market and customer behavior. It will help them reap the benefits that far surpass their competitors, who still utilize legacy systems.

In simplest terms, to leverage IPA:

Check for automation opportunities in your existing system.

The best solution to automate operational processes is to use an intelligent Insurance CRM software. It will help you manage all your products, intermediaries, teams, and distribution channels. When you use a unified platform across teams, productivity and operational efficiency will automatically increase.

Ask yourself why you would need to implement IPA?

We have seen the benefits, cost-savings, and operational efficiencies that intelligent process automation brings to your organization. Now, it is time to think about the business opportunities that you might be losing by not implementing IPA.

  • The impact on business after relieving human resources of repetitive tasks
  • Business gains due to improved quality and accuracy
  • The impact on revenues by improving speed-to-lead and customer acquisition

It is best to automate a few pilot processes to measure the practical benefits based on a live test scenario. Pilot projects can also improve your understanding of the bottlenecks in your business processes and identify the success factors in your organizational ecosystem.

Select a reliable automation partner

You may already have worked with a partner to automate a few software or processes, but will they be able to handle a large-scale overhaul?

Select your automation partner that can match both your current and future needs.

Leadsquared has helped many Insurers succeed and experience measurable business impact by offering business-critical solutions such as automation for sales, marketing, underwriting, to name some.

Read further:

The mortgage lending landscape is witnessing a rapid change in the United States. Banks are looking for a technologically superior and modern loan management system. Solutions like mortgage banking accounting software top the list as they can automate their key processes. Of course, financial institutions seek a fast, flexible, and scalable option, but they also need an agile and cost-effective solution. 

According to Brian Lynch, founder & president of Advantage Systems, the initial business accounting systems were not operating at the loan level, and they could not integrate with other systems.

The modern-day mortgage banking accounting software have evolved and support various facets of loan management. It facilitates banks in automating their procedures, thus allowing them to offer a better customer experience and achieve cost savings. Moreover, tech-enabled lending processing also improves productivity throughout the loan lifecycle. In this article, we will discuss how to use the software for end-to-end loan management. 

Mortgage banking accounting software

The problems that mortgage accounting software solves

Lenders have had a tough time dealing with redundant spreadsheets. Especially when the scale of the business or the loan volume grows, spreadsheets just cannot cut it. Apart from eliminating manual processes, mortgage software helps in the following ways.

  • It provides loan-level details to the lenders, such as credit lines, non-performing loans, participation loans, and more.
  • Detailed account details: it records the interaction history at the account (customer) level along with the outstanding loan amount, repayment date, and credit history with other lenders.
  • Mortgage software integrates with other services and tools like ElliMae, Calyx, Experian, BlackKnight, Equifax, and more for automating the loan lifecycle management.
  • Reduces operational costs by eliminating manual record-keeping, document management and more. With improved team collaboration, lenders can significantly improve operations and reduce costs.
  • Mortgage lenders must remain compliant with lending regulations and GAAP (Generally Accepted Accounting Principles). Software solutions help lenders ensure that workflows are as per the guidelines and teams follow the procedures diligently.  
phygital lending ebook

How to Use Mortgage Banking Accounting Software for End-to-End Loan Management?

Leadsquared mortgage CRM is the perfect solution for mortgage banking requirements. It is highly customizable and can integrate with several systems. Moreover, it also offers a superior credit rating process. Starting from prospecting to closure, it is the best system for end-to-end loan management. The following are the details. 

1. Manage Loan Application with a Digital Portal 

A manual loan application can slow down the process. Moreover, it also increases the risk of errors and missing data. Thus, leading to future problems between the credit department and the customers. 

In this digital era, banks must manage the loan application through a digital portal. Of course, it will reduce manual errors and missing data problems, but it will also improve the overall customer experience. Using the online portal, borrowers can fill out the application forms from their homes. They can also upload the supporting documents and e-sign disclosures. 

Offering such convenience to customers also increases the number of qualified leads for banks. Thus, resulting in a win-win situation for both parties.

Customer portal - application portals

2. Integrate Leading Software and Services 

Having a standalone mortgage banking accounting software is not efficient. Integration with other software and services is essential. Otherwise, it will create several bottlenecks in your loan management experience. 

Banks must choose a product that can integrate with other leading services. For instance, integration with a loan origination or productivity tool. This integration functionality will reduce the number of bottlenecks and process inefficiencies. It also offers a seamless experience to your customers. Moreover, the software must also integrate with leading credit scoring services. With this, banks can review and monitor the credit ratings of the borrowers. Thus, reducing the risk of bad debt. 

3. Multi-Loan Category Creation 

Banks need to create loan accounts across their entire portfolio. These include both EMI-based and non-EMI based loans. The software must allow both banking and non-banking institutions to create multi-loan categories. 

The EMI-based product consists of credit cards, loans against property, and personal loans. On the other hand, non-EMI-based products consist of advances or overdraft loans. Thus, allowing the banks to have greater visibility. Moreover, creating a multi-loan category will also improve efficiency across the loan lifecycle. 

4. Workflow Automation

You can use the mortgage banking accounting software to automate the workflow. Leadsquared CRM has a drag-n-drop editor to create automated workflows in a go. The software provides you with an easy to use and intuitive interface to create a workflow. 

The proprietary workflow designer lets you create engaging automation. For instance, you can automate the entire loan application process. This automation will help in minimizing data entry errors during the application process. Of course, it will reduce back-office processing. But it will also improve your turnaround times. Thus, allowing banking institutions to regain their competitive edge. 

Mortgage CRM - Automation

5. Payment Reconciliation 

Manual reconciliation processes need several amounts of working hours at banks. It often reduces the productivity of the banking system. Moreover, manual processes are more prone to verification errors. 

Therefore, it is crucial to choose software that allows for efficient payment reconciliation. Using an end-to-end loan management system can automate your reconciliation processes, thus increasing efficiency and productivity. Besides, banks can also deploy their staff time where it matters the most. 

6. NPA Management 

Non-performing Assets (NPA) are a pressing concern for Financial Service organizations. Bad debts and long-outstanding loans challenge organizations to remain operationally afloat. Mortgage software comes with built-in analytics to help banks predict and manage risks. Banking institutions can adopt a proactive approach to managing credit risks. Using the software, banks can analyze and report early warning signals. 

The in-built analytics helps the banking institutions to reduce the possibilities of defaults. Thus, ensuring they can achieve a better return on investment for their institution. 

7. Monitoring Loans 

Banking institutions are widely adopting alternative credit scoring models. It is because continuous loan monitoring has become essential for banks. 

Therefore, use a software solution that can integrate credit inputs from various sources. It will allow you to have a detailed understanding of the loan creditworthiness of the borrower. Moreover, through continuous monitoring of loan activities, you can recover your debt faster. 

Mortgage CRM - overall performance

8. Credit Bureau Reporting and Analysis

It is crucial to integrate data from multiple credit rating agencies. It helps bankers to understand their customers and their financial behavior. Thus, improving the quality of their decisions, resulting in better credit management. 

The software can help bankers overcome the problem of incomplete credit bureau data. The integration with several reporting agencies will also improve the loan approval rates. 

9. End-To-End Call Center Automation

For efficient banking operations, it is crucial to have a well-connected system. More precisely, lenders need a system that can manage end-to-end call center operations. The lending software allows you to route the leads to the call center efficiently. Whether you are capturing them online or offline, the call centers must know the lead details immediately. 

Leadsquared mortgage CRM allows you to distribute the leads effectively. Banks can distribute loan-leads among call center executives or in-house sales teams based on several factors. These factors include the interest in a product, the language they speak, and much more. Moreover, the lead distribution can also take place in a round-robin manner. 

The automated lead distribution strategy increases the efficiency of the call centers. Thus, helping the banking institutions in expanding their loan books. 

Call center sales CRM - lead capture and assignment

Final Thoughts

Mortgages are at an all-time high. The rising urbanization and improving lifestyles mean that these numbers are only going to increase in the future. In 2019, the United States accounted for $16.1 trillion in outstanding mortgage debt. And the amount of outstanding mortgage debt is steadily increasing since 2012. Thus, representing the rising demand for efficient loan management and accounting software.  

Having an end-to-end loan management software is beneficial for both the bankers and the customers. For banking institutions, it simplifies the complete lending process. It helps them in identifying market gaps. Moreover, it allows banking and lending institutions to disburse loans with precision. Thus, allowing them to create more value for their customers. 

From the customer’s perspective, a digital application portal simplifies checking eligibility and applying for loans. Thus, customers can also enjoy a seamless application process. Moreover, if they qualify for loans, then they can also get simple and faster access to their mortgages. 

If you are looking for a software solution to streamline your lending processes, you must try LeadSquared mortgage CRM!

Mortgage Accounting Software FAQs

What software do mortgage brokers use?

Mortgage brokers generally use LOS (Loan Origination Software) or mortgage CRM for loan origination, servicing, and recovery automation. 

What is the best mortgage loan origination software?

LeadSquared mortgage CRM software is best for loan origination and end-to-end loan lifecycle management.

What is a loan accounting system?

Lenders account for loan receivables by recording the amounts paid out and owed to them in the asset and debit accounts of their general ledger. A loan accounting system is a software solution for managing loan receivables. It is a double-entry system of accounting that makes a creditor’s financial statements more accurate.

What is mortgage loan origination software?

A mortgage loan origination software (LOS) is a digital tool that allows lenders to manage different stages of their loan servicing cycle – right from application to disbursal. The primary purpose of mortgage LOS software is to help lenders process loans faster. Details.

Do you think selling everyday products is difficult? Try selling intangible products like insurance. It is not like selling bags, shoes, or cars. Here, you cannot convince potential buyers by showing them how much help the product has been to you. Insurance is a protection against misfortune, and people would never wish for misfortune to reap the benefits of their investments. 

Thus, there is always a different approach to selling insurance policies. 

In this article, we will discuss useful insurance sales tips and techniques to win more customers. But first, let us quickly look at the teams that represents the insurance business and in what capacities.

Insurance sales tips
Digital Sales & Operations in Insurance Ebook (Free Download)

The insurance sales team and their roles

Insurance Agents 

Agents bring new business to the insurance company. They usually meet prospects in-person and sell insurance policies. Agents are mostly responsible for human-to-human selling

In terms of their sales strategies, agents believe in developing strong relationships with customers. They also try to sell policies to the people in their customer’s networks (referrals).

Insurance Brokers 

While agents represent Insurers, brokers represent consumers. A broker can suggest policies from many different insurance companies to a customer. Moreover, agents can bind coverage (complete insurance sales) while brokers cannot. Brokers are crucial for insurance sales because of their broad network of consumers.

Customer service representatives or call center agents

Large insurance enterprises outsource calling to call centers. Whenever there is a query on their website, need to inform customers about policy updates/renewal, insurers route this task to the call center agents.

Plus, every insurance company needs a working customer service unit. This team oversees maintaining a long-lasting relationship with the clients. You can see this unit as the bridge between the clients and the company. Their goal is to ensure customers are happy and satisfied.

In-house sales team

The sales team is responsible for controlling the sales funnel to purchase. Typically, agents and brokers bring the leads into the sales funnel, and the sales team takes it from there. The sales team is responsible for follow-ups until the leads convert into customers.

Field sales teams

The field sales teams are responsible for closing sales away from office premises. They meet the prospects in person and influence them to buy policies. 

Insurance sales techniques (pre-requisites)

There can be different sources of insurance lead generation. Be it online or offline, agents and sales reps need to pitch in to close the sales. For instance, in 2018, in the United States, 51% of all life insurance policies were sold by independent agents and 38% by affiliated agents. The same is the case across the world. In India, insurance companies employed nearly 32 lakh agents for selling life and general policies through agency distribution channel (PwC: Insurance Impact Assessment 2020).  It indicates that the role of human agents in selling insurance policies is still in place.

The following are some of the mandatory skills for sales in insurance.

  • Good communication skills are an essential part of any company’s success. Many people think they have good communication skills. But practical trials will prove that they need to learn more, especially in a product as emotionally driven and complicated as insurance. 
  • Proper onboarding training ensures the entire team is up to speed with relevant techs. Today, it is almost impossible to get by without sales tools. Nonetheless, only a handful of employees do comprehend how these tech tools work. 
  • Interpersonal skills are a must-have for everyone from the sales sector. It helps to ascertain the interest and needs of potential clients. This way, agents and sales reps can quickly and easily prescribe the best solution. 
United States Insurance Industry Outlook

17 Effective insurance sales tips for success

Here are the effective insurance sales tips and techniques that you can train your agents for successful selling.

1. Automate processes

If your agents are still struggling with excel sheets, then you can imagine the productivity they are losing every day. It will directly impact your sales as well. Therefore, you must invest in automation to offload them of manual, tedious processes. Now, you can achieve automation at various scales. The simplest could be to use Insurance CRM. Here, you can automatically assign leads to agents, track leads, track agents’ activities, create task reminders, and more. After having a CRM in place, you’ll only need a little training to make agents familiar with the system.

2. Use technology

Welcome to the 21st century, where technology rules it all. Sales teams are increasingly using technology today. You do not want to stay behind. However, there is a big difference between making these techs available and leveraging them. Be a smart sales professional and use technology to make your team more productive. You can invest in simple technologies like CRM (Customer Relationship Management) software designed specifically for high-velocity insurance sales.

3. Explore market

Many times, sales do not happen because there’s a similar product in the market at a lower price. Insurance is a very competitive sector, and there are several policies with similar benefits. Agents must be aware of the competitions. They must highlight the USP (Unique Selling Proposition) or additional benefit that your product has over competing products.

4. Be confident about the product

Many people miss this point. You could equip your sales team with all the necessary skills and still struggle to get the result. Yes, because they do not believe in the product. If you do not know that what you are selling is worth it, you will find it hard to convince others to buy it. It is pure logic. Bargaining a price will be a hassle because you are not sure the product worth it. So, get your team to trust the product and services.

5. Develop need-payoff

Sometimes, people don’t realize that they need an insurance policy. For example, travel insurance. People don’t consider this, especially for domestic travel. Therefore, agents must know how to probe into the customer’s concerns and develop the need for the insurance policy. In the case of selling a travel insurance policy, agents can talk about the potential threats of damage to expensive belongings like a camera, missing the flight, etc. Thus, developing a need is one the best insurance sales tips anyone can give you!

6. Listen to the customers

At times, agents go on explaining the product without understanding the actual needs of the customers. Many times, sales do not close because customers don’t really find value during the conversation. Therefore, agents must be good listeners as well. Suggesting a solution after listening to the customers’ concerns has more weightage on selling instead of direct pitches.

7. Build a personal connection

Remember that the buyer, on the other end, is also a human. Try to build a personal connection with the prospect. It will also help you gain more referral buyers from the prospect’s network. Selling policies that give you higher commission is a big no! Agents must sell the policies that cover the customer’s requirements.

8. Do not be a robot!

Do not get it wrong, but customers often make purchases based on emotions. The truth is buyers are eager to know the people behind the scenes. They want to connect with you on a personal level to be able to trust you with their cash. To get ahead, you ought to take out the robotic approach. Be sure to build a relationship with your clients. 

9. Be professional

It can be a bit confusing. We just stated the importance of getting personal with customers. But getting close to customers does not mean throwing all the professional etiquettes out the window. Or to dress informally for meetings. You can build a lasting personal relationship and keep it professional too. 

10. Don’t use insurance jargon

You might be familiar with industry-specific terms (jargon), but your customers might not know them. Many people misunderstand knowing jargon as their knowledge about the subject. Moreover, while selling insurance, you’re not there to brag about your knowledge or experience. But you are there to help customers invest in the right policy that can benefit them. Therefore, avoid using jargon and try to explain the policy benefits in the simplest way possible.

11. Value your prospect’s time

Agents must respect the customer’s time. Don’t force the customer to continue the call or schedule an in-person meeting. Also, even if the customer is friendly when you’re meeting in-person, don’t get drawn away and extend the meet unnecessarily. In either case, respect your time as well as customers’.

12. Do not forget the young customers.

Young people make up a big part of the global customer pool. It is even more imperative with insurance companies because young people will form the customer base of tomorrow. Therefore, remember that young people are just as important as the older generation. Young people buy expensive stuff like houses and cars. And set up businesses too. The point is – do not judge prospects based on their age. In the coming years, millennials and Gen-Z will become the primary customers for insurance companies. 

13. Script and practice your sales call

New agents may hesitate to call customers. They may even get disappointed when the sale doesn’t close. Therefore, you must share sales scripts with agents and ask them to practice the call to sound more confident during the actual phone-call with the customer.

14. Learn to handle objections

Customers don’t usually welcome calls from companies. It is mainly because of the huge numbers of promotional phone calls they used to receive during a couple of decades ago. Today, as soon as the customer hears that “I am Xyz from Abc insurance company,” they disconnect the call or ask the agent to call later.

Thus, agents need to handle such objections and proceed with communications. The better opening could be (for in-bound leads) – “this is regarding your query on the Xyz website.” It will help the customer recall the context and will not object to the call.

15. Brush-up sales fundamentals

Whether it’s insurance sales or selling in any other industry, the reps must know the sales fundamentals. It will help them learn the dos and don’ts that helps sell more effectively. For instance, people from different regions have different speech accents. Because of this gap, agents may find it hard to communicate their thoughts to customers and, on the other hand, will not be able to understand what the customer requirements are. Also, at times, some speech accents may sound rude or offensive to customers, even though the agent did not mean to offend.

Therefore, brushing up on sales fundamentals and effective communication strategies are among the evergreen insurance sales tips that always helps in winning customers easily.

16. Check your voice on the phone.

There is something unique about every good customer service representative. Yes, you guessed it: they have incredible voices. In case you are wondering, this is well-planned. Smart salespeople understand the need to help the outside world trust your business. Sounding confident is a great way to build trust. Therefore, you must check your phone voice from time to time.

17. Learn from co-workers

Learning is a never-ending process. While selling itself, people discover new techniques that work best for your target customers. Therefore, create a channel where your agents can communicate, discuss their challenges, learn from each other’s mistakes, and also learn new ways of selling from experienced salespersons. Plus, as an insurance organization, you can host internal training sessions or formal knowledge sharing sessions to encourage agents to learn from peers. Ultimately, insurance sales tips from the co-workers are the best.

Learn the techniques of reducing closure cycles through data driven sales in insurance:

Insurance sales techniques: the bottom line

Now you understand the insurance sales tips and techniques and the importance of insurance sales training. These techniques should help you get your team ready for the market. 

But that is not all!

As stated earlier, your team needs a seamless solution! That will help them access the information they need as they go out to the field. Undoubtedly, they need real-time information about the product and potential clients. Hence, you need a tested and trusted cloud-based CRM system to give them all they need to succeed in the field. A quality CRM system is sure to help your team reach its full potential without going under the knives.

LeadSquared mobile CRM streamlines field insurance sales from start to end. You should give it a try!

Also read:

Insurance selling techniques FAQs

How can I increase my insurance sales?

By being proactive with client outreach, listening to customers, providing solutions to their concerns, using the right technology, and providing a better customer experience, you can increase your insurance sales. Details.

What are the techniques of selling?

Selling in insurance involves prospecting, preparation, outreach, objection handling, and closing. To ace all these, you must understand the market, focus on the right leads, use CRM, listen to your prospects, and adopt a problem-solving approach instead of hard selling.

How do you approach an insurance client?

Before approaching a client, study their profile, understand if they have previously engaged with the Insurer, what are the products they’re interested in, check if you have adequate knowledge about the product, and then schedule a meeting to discuss the insurance policy and benefits.

What are the tips for selling insurance over the phone?

While selling insurance over the phone, be polite, listen to the client, prepare your pitch, revise the script, and be confident.

Selling insurance is different from regular sales in many aspects. Insurance agents and sales reps must face objections from prospective customers even for two-minutes of phone calls. On top of that, there are several similar products in the market. Thus, to convince customers that your insurance product is better than others is a pressing challenge. 

In short, selling insurance policies needs a different approach. That is where insurance sales training comes in.

In this article, we will discuss why training is crucial and how to automate insurance sales training to help agents/sales reps close more sales.

Insurance Sales Training Automation
Digital Sales & Operations in Insurance Ebook (Free Download)

Why is insurance sales training crucial?

The U.S. Bureau of Labor Statistics states that the insurance industry attracts plenty of agents and brokers from around the world (there were 501,300 insurance sales agents in 2019 in the United States). Thus, it is even more challenging to get by as a new inexperienced insurance agent.

Manual processes are yet another problem. Salespeople on the field find it difficult to get access to information back at the office. Many insurance companies fail to acknowledge this fact. New brokers and agents face a lot of struggles in the field that can reduce their productivity and eventually impede business growth.

Experts advise insurance companies to onboard new agents with proper training. But again, many insurers don’t use technology for training purposes, and agents/sales reps end up exploring sales methodologies on their own. To avoid such circumstances, training is a must for agents and sales reps.

United States Insurance Industry Outlook

The phases of insurance sales 

Online sales or STP (Straight-through Processing) in insurance have recently started to gain customer’s attention. While online or direct sales is convenient for both Insurers and customers, the role of human-to-human interactions to persuade customers is still intact. In 2018, in the United States, Independent agents and affiliated agents wrote 51% and 38% of all life insurance policies respectively. Surprisingly, only 6% of sales came from direct response to marketing efforts.

The insurance business has several representatives for their customers, and everyone has their own way of handling sales calls. It includes in-house sales representatives, agents, brokers, and call-center agents. However, on a high-level, there are five crucial phases of insurance sales. These are:

  1. Prospecting: It involves finding qualified leads through online channels, cold calling, and cold emailing.
  2. Preparation: It includes understanding the product, company policies, competitor’s offerings, customer-interaction guidelines, and persuasive communication strategies.
  3. Outreach: Here, the agents/sales reps contact the leads. They can either meet them personally or call on their phones. Insurers also need to train their salespeople about the technology they use, for example, cloud calling or IVR telephony.
  4. Handling objections: People do not always entertain sales calls. So, representatives also need training in handling dissents and rejections from customers.
  5. Closing: The final closure may require paperwork, identity verification, etc. You need to train your agents, brokers, or sales reps about the process of closing an insurance policy sale.

How to automate insurance sales training?

Even though it is imperative that sales training is crucial in the insurance business, many insurers don’t have enough training resources and technology to support end-to-end training. That is why there is always a gap between the agent’s knowledge and approach and the customer’s requirements.

However, it is possible to bridge these gaps by ensuring proper training for agents and sales reps. Here’s how.

Create online training modules 

Let’s take an example. To understand a particular topic or to foster your interests, you must have taken an online course. For instance, you must have come across LinkedIn courses on Sales Skills or Udemy’s short, one-hour course on objection handling techniques.  

These are the best examples of how organizations automate training. By taking inspiration from their style, duration, etc., you can create bite-size training modules covering all the aspects of training – from prospecting to closing. Now, you might be wondering how to ensure that the agent has studied the course? So, you can create assessment tests with grading to make sure that agents take the training seriously.

Also, apart from the product knowledge, agents and sales reps need to know the basics of cold calling, writing cold emails, drawing a proposal, and closing sales. Flooding all this knowledge all at once can be overwhelming for new joiners. Therefore, you can create internal certification courses that will keep fostering your agents’ sales skills. Many leading insurers follow this path. For example, Auto Club Group, one of the leading insurance firms of the United States, has introduced training and development programs for people who want to grow their career with them. 

Auto Club Group Training and Development

Cloud information repository

You can store the training modules in your Insurance CRM as resources. This way, agents can access the resources and the policy information whenever the need be. Moreover, it becomes even handier with a mobile CRM app. Here, agents can refer to these training materials and other resources (policy information, regulations, company policies, etc.) whenever they are traveling or waiting for the client meeting, and so on. 

Another aspect where most insurance sales agents get stuck is on customer queries about tax benefits on insurance policies. Agents cannot remember the tax benefits of each insurance policy. Moreover, these policies keep on changing, and sharing outdated information is equivalent to misleading customers.

Information repositories come in handy at such times. Sales reps and agents can refer to the updated information anytime through the information library. 

The following is a snapshot of the LeadSquared CRM cloud document library.

LeadSquared document library

Automate onboarding

Another way to automate insurance sales training is by including the training modules during onboarding. Onboarding involves four crucial phases: pre-arrival, joining, orientation, and training. 

While pre-arrival and joining phases mostly deal with documentation and verification, agents get trained in technology/app and company policies during the orientation and training phases. 

For instance, if you use a CRM system for lead and customer management, then you will have to train your new agents on how to use the CRM system. During one of these phases, you can schedule a session for sales training as well. Or a refresher course for experienced professionals. You can also track whether the agent shows up for training, attends the sessions, and assess their learnings through quizzes/assessment tests. 

Read more: What is onboarding automation?

Targeted training

In an organization, some agents outperform while some underperform. By tracking the sales performance of your individual sales agents in your Insurance CRM system, you can identify the agents who need further training. 

To take this a step ahead, you can also automate call quality audit and figure out the gaps in your agent’s sales calls that are preventing conversions.

sales performance report - sales agent report

Manage curriculum

It is true that year after year, you will have to update the curriculum to suit the current market trends. For example, yesterday, agents had to sell to Gen X, and tomorrow they will have to sell policies to millennials and Gen Z. 

The different set of customers have distinct communication preferences. Thus, as a manager, you’ll have to keep updating the training modules from time to time. Automation is of great help here. You can easily replace parts or whole of the older modules with the newer ones without changing the entire workflows.

Insurance sales training benefits

In 2017, Brandon Hall Group conducted a survey on organizations that facilitated training for agents and reported the following business benefits:

  • 67% reduced training costs
  • 59% reduced travel time spent on facilitating/attending training sessions
  • 61% increase in sales


Webinar: Digital sales in Insurance

Insurance CRM: a one-stop solution for automating insurance sales

What would you prefer? Individual software for individual processes viz. onboarding, sales, training, customer management, resource management, etc., or a unified system that handles most of these processes?

The latter, of course, because it will save your team’s time switching between platforms and eliminates the hassle of redundant information anomalies. 

A customized Insurance CRM with an option to have training repositories, pitches and more enablement material is the best solution to onboard agents as they learn how to use the tool, maintain customers’ profiles, connect different distribution channels such as direct sales, call center, bancassurance, agencies, brokers, and field sales​, and track your team’s performance. Plus, you can store all relevant and updated information for the agents and reps in a central repository.

Handy tips for insurance sales training

  • Start by teaching new agents about business policies and processes. They need to understand the need for technology and why automation is an essential part of the sales.
  • Every smart business ought to have top-notch training modules, formulated to meet their specific needs. With these modules, you can evaluate new employees. You can design tests and quizzes to test their comprehension of the subject matter.
  • A pre-set test will be necessary to ascertain whether the new agents do understand your system.
  • Be sure to automate the business repository/database with quality CRM software. So, they can access relevant information and resources without any hassle.
  • Experts advise employers to monitor salespeople’s performance from time to time. It will give you a clear idea of the areas they are lagging. So, you can tell the appropriate training to tie the loose ends.

Further reading: