Evaluating the CRM options for insurance benefits brokers

Ryan Plourde
| 6/18/2018
CRM for benefits brokers

Employee benefits brokers are the intermediary between employees and insurance carriers. To serve clients well, brokers need to be fully aware of their clients’ needs and the highly complex, competitive offerings of different carriers.

A first-class customer relationship management (CRM) system is indispensable. It can enable team members to be more productive by helping them identify new sales opportunities, manage the flow from lead to close, and stay up to date on the needs of existing customers. For employee benefits brokers, finding the right CRM option can be challenging because industry terms and methods are unique.

Let’s consider the options.

Operating without a CRM system

Firms that do not have an effective CRM system often need to enter data manually in more than one place, which can create redundancy, increase errors, and expand workloads. To manage customer information, these firms might rely on more general software programs and on office organizational systems such as central filing cabinets. While central files might offer easy access to on-site team members, typically only one person at a time can access the information. If a folder gets misplaced or misfiled, work might come to a standstill for others. Without secure systems and processes, agencies are unable to implement the preventive measures needed to maintain compliance with standards for the confidentiality, security, and transmissibility of protected health information.

Off-the-shelf CRM system

Using an off-the-shelf CRM system is certainly better than using none at all. However, this type of solution often is very general in order to meet the basic needs of multiple industries. Trying to shoehorn a broad but shallow system into an organization can easily become an expensive, disruptive mistake.

Custom-built, stand-alone CRM software

A custom-built CRM system engineered specifically for a business might seem like the perfect solution, but it often is expensive and time consuming to design, build, and maintain. Such systems can be inflexible and often do not integrate well with other software solutions – triggering extra work, such as needing to enter data multiple times in various places.

CRM software tailored to the insurance benefits broker industry

A flexible CRM system that has been specifically adapted to the needs of the industry is an outstanding option. Users should expect to experience the core benefits of a robust CRM solution and the flexibility to adapt it to industry terminology and methods.

Because brokers need to record and process important information from many sources about clients and carriers, mistakes or oversights can have serious financial and legal implications. As a result, the security of a customized CRM system for brokers needs to be more rigid than systems built for less restrictive industries. A system that provides automation and intelligent design capabilities can also be very helpful.

An ideal system should:

  • Simplify the quoting process
  • Organize policies and carriers
  • Streamline the resolution of service issues
  • Provide a clear overview of interactions with each client
  • Flag important actions and events well in advance
  • Deliver a data security model for meeting compliance requirements

The system should also have a robust and adaptable workflow engine that can automate repetitive tasks, meet the wide range of needs of the user community, and create processes that save time and minimize the risk of human error. In addition, it’s important to find a CRM platform from a well-established firm with the availability to support a growing and changing business.

The answer? Crowe BenefitsBridge for the Microsoft Dynamics 365™ Solution

Crowe BenefitsBridge is a highly flexible agency management solution customized for the benefits broker industry. This CRM system integrates with the Microsoft Dynamics 365 (formerly Microsoft Dynamics™ CRM) solution to help employee benefits brokers manage their clients, insurance carriers, policies, plan rates, renewals, and commissions in addition to leads and opportunities. Integration with Microsoft tools makes Crowe BenefitsBridge familiar and intuitive to use.

Designed by software and business professionals who fully understand the industry and the adaptability of the Dynamics 365 software platform, Crowe BenefitsBridge addresses brokers’ unique requirements and can be cost-effective from day one. A video provides more information about Crowe BenefitsBridge.

Get more information about Crowe CRM services for Microsoft Dynamics 365 software from Crowe LLP. Have a question or interested in evaluating the CRM functionality in Microsoft Dynamics 365 software? Contact us today.

Microsoft, Microsoft Dynamics, and Microsoft Dynamics 365 are either registered trademarks or trademarks of Microsoft Corp. in the United States and/or other countries.