How an Insurance Broker CRM Accelerates Your Policy Sales : A Complete Guide

November 13, 2023 in Sibro

How an Insurance Broker CRM Accelerates Your Policy Sales : A Complete Guide

Are you looking for the best CRM software for insurance brokers? This article will walk you through every detail about insurance broker CRM software, its importance, its features, and its necessity in the modern insurance broking scenario.

Being an Insurance broker, you hold a sanctuary in the mind of your customers. You are the ones who stand for the customers with unassailable knowledge about different insurance companies’ policy details and services. Modern Insurance customers are not interested to deal with a lengthy process to get a new insurance quote from an insurer. So if you want to become a cherry on the top of the cake, you have to experience what the modern aggressive insurance brokers choose in the new normal; an effective insurance broker CRM.

If you watch closely, CRMs designed for insurance brokers will indeed a perfect tool for futuristic brokers to outclass your competitors if you make an actual effort to effectively explore the opportunities of technology in simplifying your customer journey from prospects management to settling claims.


Summary: An Overview

This article will walk you through the below points so that to take the complete advantages of insurance broker CRMs, automate your business, build robust relationships and succeed in your insurance broking business.

What is an insurance broker CRM?

What is the importance of having a good CRM in insurance broking?

What are the features of a perfect insurance broker CRM?

Why do brokers using insurance CRM software yield more business?

Why insurance CRM is a necessity for modern insurance brokers?

What are the best insurance broker CRM available in the market right now?

According to data released by Customer Relationship Management Market Size, Share & Trends Report recently, the majority (more than 90%) of the organizations with more than ten employees in their workforce use customer relationship management systems (CRMs). Considering the statistics, it can be understood that most of the business conversions have fallen in the hands of brokers who blended the practicality of a good insurance broker CRM in their daily work routines.

What is an insurance broker CRM?

An insurance broker CRM is a tech-based solution designed for insurance brokers to effectively manage their in-house broking activities for efficient client/customer interaction, profit maximization, and business development.

What is the importance of having a good CRM in insurance broking?

Insurance broker CRMs have become a cutting edge factor for the modern insurance broking business. It’s not only because of the exclusive features offered by the CRM but also by the accuracy that it provides in delivering desired results. The features such as processing of huge amounts of data in an organized manner, instant and precise calculations, quality customer interactions, etc. are some of the amazing features these CRM showcases.

These features when consolidated into a tech product made insurance brokers more and more aggressive in exploiting potential customers and grabbing successful business conversions.

How an insurance CRM helps brokers to enhance their policyholders’ experience?

According to some of the recent statistical analysis related to insurance broking, implementing the right CRM for insurance brokers can lead to a around 50-60% improvement in broker productivity, a 30-40% increase in request for quotes, a 50-60% reduction in employee costs, and around 55-60% enhancement in successful customer management. These figures serve as concrete evidence of the substantial impact an insurance broker CRM software system can have on insurance broking business and its revenue.

From a customer perspective, it is very important to have a complete 360-degree view of the policy. Also, they want to know in detail about the depth of a broker’s post-purchase assistance including claims management. Considering these factors people choose their respective insurance brokers. So being a competitive insurance broker, you have to spend enough quality time and effort in improving your customer experience. This is where good insurance customer relationship management software comes into act.

They have the ability to effectively manage your customer experience in prospects, policies, and claims handling in its most modern and promising manner. These software for insurance brokers will help you in the initial prospects’ data collection, RFQ drafting, creation, and communication with your customers with actual quote comparison sheets, policy administration, invoice reconciliation, and claims handling which eventually create a successful and exhilarating policy holder’s experience.

What are the features of a perfect insurance broker CRM?

A perfect insurance broker CRM comprises some handpicked features such as:-

  • Easy and instant email and whatsapp communication features
  • In-built email templates for the professional communication process
  • Ability to create RFQs instantly
  • Ability to create professional quote comparison sheets automatically
  • Follow up with clients systematically

Apart from the above customer-specific features if an insurance CRM can offer your organized prospects management feature, automated policy handling facility, systematic claims assistance, and management, automated accounts management with the auto-reconciliation feature, etc., then THAT’S IT.
You have found your perfect insurance broker CRM software

What are the benefits of CRM in insurance broking sector?

An insurance broker CRM offers countless benefits to the insurance broking sector, enhancing business processes through automation. These CRM software for brokers often discovers new leads, capture them across various channels, and implement personalized outreach strategies for successful customer conversion. Additionally, CRM proves highly advantageous for streamlining internal workflows by automating routine tasks.

Let’s explore the key benefits of insurance broker CRM software below.

#1: Insurance CRM software has the capability to generate new business opportunities

The automated prospects management feature offered by some of the best insurance CRM software focuses on managing the incoming prospective leads in an organized manner. These software features help the brokers systematically manage their prospective leads, follow up with them on a periodic basis, send well-drafted professional emails, and convert them to successful business conversions.

These software actually behaves like an experienced insurance-based instructor to the brokers and guides them to success throughout their business journey.

#2: A good Insurance CRM software can act as your dedicated personal secretary

Being a busy insurance broker, it is very difficult for you to track all your sales numbers and figures, remember client appointments, important actions, tasks needed to be done on a specific day, etc.

You very well know the end result, right?

Yeah, sometimes you forget the most important part. It may cost losing a prospective business or a healthy business relationship that can produce potential client references.

What if you possess any of the best insurance CRM software?

It just simply remembers everything for you. You won’t miss even a single appointment, not ever forget to attend to a client, and also you will be completely on track with your business numbers. When this becomes a routine, the end results are pretty amazing!

#3: Offers effective policy management

The word “effective” has a very important implication here. This implication is making the insurance brokers stand apart from the other who doesn’t own the whip. The best insurance CRM software in the market offer uncompromisingly efficient end-to-end policy management services. They stand with you from the time of handling a prospect until the business conversion is done. Some software even helps you to record your lost businesses so that you can use the data for better planning.

#4: Insurance CRM software smoothens claims management

Managing claims are always not as sweet as managing policies. This is entirely dealing with customers who demand returns which is definitely their privilege. In order to process a claim successfully, it requires a certain amount of documents. Most claims are repudiated due to the failure in presenting the required documents. So being a customer representative, insurance brokers must be well-equipped to deal with these professionals.

Here comes the role of an insurance CRM software.

What they can offer you is simply amazing. With the help of these top-rated insurance CRM software, you can easily track the entire claim process, create a checklist of required documents respective to the policies, inform your clients regularly about the updates and thus smoothen the entire claim process.
When these cutting-edge provisions become a daily routine, the path to success becomes smoother and smoother for cultivating more prospective business relationships and yielding more potential businesses.

CRM SOFTWARE FOR insurance brokers

SIBRO InsuranceBroker CRM offers more than you THINK!

We waited until we could do it right. Then we did! Checkout the incredible features of Sibro, the best insurance broker CRM software in India.

Best Insurance CRM Software for Brokers

Why insurance CRM is a necessity for modern insurance brokers?

The top-level insurance business processes are adapting the practicality of IoT, Predictive Analytics, Artificial Intelligence, etc in areas such as managing policies, quality customer management, effective resource utilization, etc. Being an efficient insurance broker, it is very much a necessity to take hold of any of the top-rated insurance broker software for a much more progressive business outlook and effective business management.

Let’s check out the aspects that push the insurance brokers to move on from their traditional business approach.

#1: Business automation and higher operational efficiency

In the present era, insurance CRM software are considered as one of the shaping tools for becoming a potential insurance broker. It is also an essential tool for prevailing in the existing competitive industry. The combination of different automated modules and features offered by these softwares are now acting as a solution provider for the insurance broker businesses and letting them ease through the processes.

The difficult and time-consuming tasks handled by the brokers such as handling prospects, follow-up clients, drafting RFQs/quote slips, prepare quote comparisons, record policies are have become automated and much simpler with the deployment of these best insurance management software.

Achieving higher operational efficiency and quality business management that helps in accumulating and preserving prospective clients has made these insurance CRMs an unavoidable aspect of future insurance broking business.

#2: Easiness and high-end security while handling data

The insurance industry is one of the many that handles millions and millions of data on a daily basis. So it is very much important to have a digital document repository for handling these data collectively. Having a repository that can store each and every data safe and sound has now become an essential aspect of insurance broking.

Considering the older ways, these software not only offers a safe repository but also helps you to access the information from anywhere instantly. The repository stores all kinds of insurance-related documents organize them and indexes them for retrieval. This offers a trouble-free and versatile way for organizations to advance security, streamline compliance, and therefore provide an enhanced outlook for business assessments by saving both time and money.

#3: CRM offers cutting edge business support for insurance brokers

CRM and insurers are building an unbreakable bond nowadays. As every client has their own varied requirements, CRM is one big tool that helps insurance brokers to keep up with their broad clientele. The main features of these systems are they offer uninterrupted support in customer service and managing other insurance services.

In managing claims, these software assist brokers in handling the entire claim process in terms of recording claim intimations, creating documents received checklist, sending those received documents to the claim processor, and doing periodic follow-up until it gets settled or repudiated. These attributes offer productive business support to the insurance brokers and behave as cutting-edge support for them.

#4: Portable and secured insurance services

Data portability is no longer different from the customers. The overflow of smartphones and other gadgets are so satisfying for the customers to grab information about their insurance needs. These mobile applications serve multiple recipes and help them to retrieve all the necessary choices they need. This puts a lot of weight on the insurance broker. If the broker possesses a top-quality insurance CRM software, it is not difficult to be on the front line and serve the customer with quality choices are guaranteed policy options.

The features these insurance CRM software offers such as the end to end policy management, automated, hassle-free claims management, invoicing and reconciliation serves as a proactive business tool for the brokers to be an integral part of this aggressive insurance industry.

How insurance broker CRM boosts policy sales?

In the competitive landscape of insurance brokerage, the right tools can make all the difference. The practicality of Insurance Broker CRMs goes beyond the conventional benefits of customer relationship management in insurance sector. Here are five novel perspectives on how an insurance broker CRM accelerates policy sales.

#1: Timely renewals through policy automation: Automation isn’t just a time-saver; it’s a revenue booster. With one of the best insurance broker CRM, you can easily automates your workflow and send timely reminders to customers for policy renewals. This ensures that renewals happen promptly, reducing the risk of policy lapses and enhancing customer satisfaction.

#2: Efficient handling of multiple policies: Managing customer data for multiple policies can be complex, but not with an insurance broker CRM. These CRM software for brokers leverage multi-page layouts and conditional fields to organize and streamline information. This feature allows brokers to have a comprehensive view of all policies a customer holds, facilitating personalized interactions and informed cross-selling opportunities.

#3: Swift claim resolution: Customer satisfaction hinges on the prompt resolution of claim requests. Insurance broker CRM’s assignment rules ensure that every claim is routed to the right employee swiftly. Additionally ,approval processes guarantee that claims are efficiently approved, contributing to a positive customer experience and fostering trust.

#4: Standardized processes for consistent customer service: Uniformity is key in the insurance industry. Insurance broker CRM enables brokers to define and enforce standardized processes across the organization. Set Service Level Agreements (SLAs), create checklists, and automate specific tasks to ensure that every customer interaction adheres to established standards. The Blueprint feature helps maintain consistency, offering a seamless and reliable customer experience.

#5: Informed decision-making with analytics: Numbers tell a story, and Sibro CRM’s built-in analytics engine empowers brokers to decipher that story. Generate sales forecasts, identify trends, and visualize key customer metrics using charts and key performance indicators (KPIs). With these insights, brokers can make informed decisions, adapt strategies, and stay ahead in a dynamic market.

In conclusion, an insurance broker CRM isn’t just a tool; it’s a strategic ally in the pursuit of accelerated policy sales. From automation-driven efficiency to data-driven decision-making, the CRM transforms the way insurance brokers operate, ensuring they not only meet but exceed customer expectations in a competitive market.

What are the best insurance broker CRM available in the market right now?

Let’s check out the top insurance CRM software available in the market right now. The most recommended insurance broker CRM used by the modern insurance professionals are as follows:-


This is one of the top-rated CRM for insurance brokers that helps them to manage their customers as well as their complete in-house insurance broking activities. This software for insurance brokers will help them to manage their prospects till reconcile your accounts statements and all in between.
From managing prospects to auto-reconciling your accounts statements, you can use this CRM for insurance brokers.

An amazing CRM for insurance agents that helps them to manage their client data, workflows, etc. It also helps them to automate their marketing efforts, sales CX processes, and a lot more. Explore the software and check out all its features.

This is CRM software made for insurance agencies where they can automate all their important tasks that including leads, sales, and other marketing activities. Important features are built-in telephony solution, autoresponders, sales automation, etc.

This CRM for insurance agencies will help them to build their book of business and automate their sales and marketing activities systematically. Major features are pre-built email marketing templates, quoting widgets, and a lot more.

#5: Insly

This is a cloud-based CRM that helps insurance agents to manage their policies, clients, in-house tasks installments, schedules, etc. The major features offered are unified data management, instant estimates and quotes creation claims management, etc.

Don’t hesitate any longer—invest in one of the best insurance broker CRM that adds significant value to your work and skyrocket your policy sales and revenue generation. However, make sure to select a CRM that aligns with the specific needs of your team members and business.

Looking for best insurance broker CRM? Then you are at the right place!