WHAT TO EXPECT

With the InsurTech industry slated for a 43% Compound Annual Growth Rate between 2019 and 2025, CNL is well positioned to be a leading consulting partner in this space.

For instance, most Agencies require a system that allows them to market and sell to both prospective and existing customers. In addition, they need an Agency Management System (AMS) that allows them to service their customers and manage their respective policies. Many of these agencies still rely on outdated platforms from companies like Vertafore, Applied Systems, and other industry AMS providers that have little to no integration capabilities with Customer Relationship Management systems (CRM) or third-party applications.

Our focus is on harnessing the marketing and sales power of CRM while providing access to a robust ecosystem of third-party applications.

“As with other parts of the Financial Services industry, insurance is disrupted by technology more and more every day. Even with customer’s increasing adoption of digital channels, agents — both captive and independent — continue to be a critical channel for insurance distribution. Insurers today are struggling to attract and retain top talent despite insurance being a high-growth industry. CNL has helped us buck this trend by delivering an efficient onboarding and engagement experience.”

-T. Bridgerton, CIO

Salesforce is known to be flexible, customizable and packed with features needed for modern leaders to adapt to the fast-paced business landscape. It can scale from a few people up to enterprise levels, but you need a partner who can guide that process.

That’s why choosing a partner is the most critical step in the process of adopting a new platform or continuing to support your efforts. When you find the right fit of partner and platform, you reduce your risks and put your plans on solid ground for the future ahead.

MANAGE THE RECRUITMENT AND ONBOARDING OF NEW AGENCIES AND PRODUCERS

Insurance Carriers that work with the Independent Insurance Agency distribution model often need the ability to leverage CRM to help manage the recruitment and onboarding of new agencies and producers. And while recruiting is a key to growth, profitable production is the usually the ultimate goal. At CNL, we help Carriers manage the onboarding of producers and integrate with underwriting platforms to bring in performance data that can be measured and reported on using the powerhouse capabilities of Salesforce analytics.

By customizing Salesforce, Carriers can have the ability to identify trends in production activities such as submission “hit ratios” and “bind ratios”, as well as roll ups of policy counts, premiums, claims data and other key underwriting production activities. Insights such as these allow them to have their field team spend their time wisely and focus on marketing to the independent agents that can help propel their business.

GAIN EFFICIENCIES, BOOST PRODUCTIVITY, AND VIEW AGENTS AT EVERY ANGLE

Managing General Agencies (MGA’s) also have unique use cases. Much like a retail agency, MGA’s need the ability to have a system that manages their full business cycle from marketing and sales, agency appointment, to the submission, clearance, underwriting and quoting processes including endorsements, claims, and renewal management. Managing these various business processes directly in Salesforce creates more efficiencies, boosts productivity, and provides a full 360-degree view of their agents. In addition, like insurance carriers, MGA’s that integrate production data into their Salesforce environment gain the additional benefit of analyzing agency productivity right in Salesforce, allowing them to focus their marketing and stewardship efforts on the right Agencies.

MARKET TO YOUR EXISTING CUSTOMER BASE

Many Insurance agencies want the ability to market to their existing customer base. A customer may have their auto insurance with one agency but not their home, umbrella, and the like. With the ability to segment customers, you can have a marketing automation system send messages to customers educating them on additional services that you have to offer. When you set up these campaigns, the system can automatically act on the next step based on the action previously taken. For example, if you send an email about home and umbrella insurance and the customer clicks on the umbrella link, you can set the system up to automatically send that customer the next email in 7 days with more information about how umbrella policies work. Work smarter, not harder.

PERFORMANCE DATA AND ANALYTICS

Perhaps you are Carrier that performs with an independent distribution model. If you fall in that category you know all too well the critical need to properly manage the recruitment and onboarding of agencies and/or individual agents. Enter Salesforce. While recruiting is key to growth, so is production. Salesforce is used by many insurance carriers to bring in performance data so that it can be measured and analyzed. Need to identify trends as to which agencies and/or agents submit a lot of applications but don’t write much business?

Are you confident your field team is spending their time efficiently to grow your business? Stop investing time where you don’t see a return. CNL and Salesforce have you covered.