Best 14 Insurance Agent CRM 2023
An insurance business is built on the same base that makes up any business: customer relationships. That’s why the hunt for the best insurance agent CRM is on.
Insurance is huge, there are no two ways about it. It’s not that it just holds up well in times of uncertainty, but it thrives on it. Together with finance, it makes up about 8% of US GDP. But it’s also deeply connected to other main industries like real estate and healthcare. In 2019 there were almost six thousand insurance companies in the US.
To make it in that crowded industry, an insurance agency needs the best CRM. Let’s learn more about the tools, and go over some of the top vendors.
Benefits of CRM Software for Insurance Agents
CRM software for an insurance agency has a lot of obvious benefits. First above all, it helps companies find new leads, close more deals, and generate more revenue. It manages this not by being an aggressive selling machine, but by helping to build and foster better customer loyalty.
The most common features are for managing your contacts and customers. Next, there are marketing tools to capture more prospects, and sales tools to nurture leads down the funnel. You’ll also get customer support tools which are key for keeping insurance policy holders satisfied.
There are some specific CRM tools for the insurance industry. These include policy creators and trackers, referral programs, and insurance industry-specific reporting.
Any insurance agency or company still without a CRM is losing ground to its competitors who have implemented such a platform. Here are some of the main advantages:
Enhanced Customer Relationship
The relationship between an insurance agent and a customer must be maintained at high standards. CRMs give agents 360-degree customer views as well as full interaction histories. It can do follow ups and reminders to make sure customers are never neglected.
Better Data Management
A lot of information goes into insurance policy making. Every customer has specific needs and conditions. CRMs are highly organized databases. They allow agents to share and update important data, and access it anytime and anywhere.
Agency Management
Some of the largest enterprises in the world are insurance companies. CRMs can help large insurance businesses manage multiple agencies in many locations. But they’re also great for small boutique agencies to run the entire operation.
Enhanced Sales Forecasting
The best CRMs for insurance sales can help with forecasting and trend spotting. This helps agencies plan new campaigns, and to make sure they have the staff and resources at the right times. It’s also useful for planning budgets or creating new insurance products.
Reporting & Analytics
Insurance CRMs collect data and can sort it out for you based on many key performance indicators. These KPIs are also often customizable. It can give you real-time and p-to-date reports on sales figures and individual agent performance stats.
Key Features of CRM Software for Insurance Agents
Agent Management & Project Tracking
Agents often have many tasks and projects to oversee. These involve nurturing new leads down the pipeline and closing deals. CRMs have great project management tools which often use workflows to smooth things along.
Policy Tracking
Crafting the right insurance policy for each customer takes a lot of work. CRMs dedicated to insurance agencies can track the many versions of a policy in progress, and make it easy to refer back to older iterations.
Email Marketing
Insurance agencies are always looking for new leads. Email marketing tools are a big part of CRMs and the best way to do lead generation. Email campaigns can be created with templates. The contact interactions can also trigger automated workflows, like creating new customer profiles.
Referral Marketing
Referral marketing is an important part of growing any business like an insurance agency. Because it involves the exchange of contact information between agents and companies, CRMs are the perfect tool to streamline this process. Great CRMs may include referral points tracking.
Commission Computing
Like any industry that leans heavily on sales, commissions are part of everyday business. CRMs for insurance companies can include financial and accounting tools like commission computing. Some even include gamification for sales teams with a leader board and all.
What is the best insurance agent crm software? Here’s our top 14 list:
HubSpot CRM
Features / Benefits
You can get started with HubSpot free CRM suite of basic features
Various website and blogging tool to attract qualified leads
Create and manage quotes and invoicing
Easy for beginners, syncs with Google apps
Drawbacks
While HubSpot promotes itself for financial services like the insurance industry, it does not have a dedicated insurance CRM
Pricing
HubSpot CRM has a free version. Premium versions are $45, $450 and $1,200 per month billed annually for a limited number of users.
Zendesk Sell
Features / Benefits
Communication tools include messaging, social media and call center features
Insurance agents making phone calls get script suggestions
Email marketing automation tools to help lead generation
Insurance businesses track sales goals and individual salesperson performance
Full sales force automation tools throughout the customer lifecycle
Drawbacks
Zendesk mentions financial services as part of their solutions, but no tools specific for insurance companies
Pricing
Zendesk Sell has four packages. They are $19, $49, $99 and $199 per seat per month billed annually. Zendesk also offers free trials.
NetSuite CRM
Features / Benefits
Part of the large Oracle suite of business software
Has dedicated financial services CRM tools
Lets you do budgeting, forecasting and revenue management
Sales tools get you lead management and automated follow ups
Full sales force automation
Drawbacks
This is a huge platform with many tools and could be hard to master
Price is a bit high especially for small businesses
Pricing
For exact prices and plans contact, NetSuite through their website.
Zoho CRM
Features / Benefits
Insurance agencies can have more agile task and project management
A robust CRM system with full sales process management software
AI does predictions and suggestions to turn new leads into customers
Insurance industry AUM tools to manage ‘assets under management’
Integrates with Google G Suite tools
Drawbacks
The basic CRM solution lacks the more advanced features for an insurance agency
Pricing
The prices for Zoho CRM are $12, $20, $35 and $45 per user per month billed annually. There’s also a free edition and a free trial.
AgencyBloc
Features / Benefits
A CRM solution geared for life insurance and health insurance
Does prospect and contact management for insurance businesses
You get insurance marketing automation
Keeps track of insurance sales reps figures and commissions
Drawbacks
A bit on the pricey side but that’s OK because it is industry specific
Pricing
AgencyBloc begins at $65 per month. There is also a free trial.
AgentCubed
Features / Benefits
Customer relationship management specifically for insurance companies
Special tools for insurance policy management
Marketing and sales automation for the full customer lifecycle
Automated renewals, reminders and follow ups for insurance policies
Has tools for property and real estate insurance
Drawbacks
This platform might take some time to learn all the way
The price might be a bit high
Pricing
Visit AgentCubed’s website for more information about plans and prices. There are no free trials.
FreeAgent CRM
Features / Benefits
This is a CRM and work management platform for teams
Basic customer management and sales pipeline visibility
Lead capturing and lead scoring helps insurance sales reps
Sales forecasting tools for insurance policy ROI
Drawbacks
This is a good CRM but not tailored features for insurance agencies
Pricing
There are 4 pricing plans which go from $25 to $250 per user per month billed annually. There are some free trials too.
Lucrativ
Features / Benefits
Easy to use CRM software solution for sales for insurance agencies
Sales pipeline management and automation features
Simple mobile apps for voice, message and notifications
Custom modules which can be tailored for an insurance business
Drawbacks
Not a dedicated insurance agency CRM
No or limited marketing features
Pricing
Visit Lucrativ’s website to request information about prices.
Insureio
Features / Benefits
Expertise in insurance for this marketing and sales CRM
Strong automations for the customer journey
Insurance application fulfillment features
Deep analytics and real-time reporting
Drawbacks
You’ll need the premium versions to run an insurance agency
Pricing
Insureio’s price begins at $25 per month, with plans going up to $75. Insureio offers a 30-day free trial.
Radius
Features / Benefits
Top CRM for insurance agents with lots of custom tools
Full sales and marketing automation suites
Solid VoIP features like one-click dialers and call recording
Organization tools like calendars, tasks and reminders
Drawbacks
The price tag might be high for some smaller agencies
Pricing
Radius costs $34 per month for one user at its basic plan. The most premium plan is $292 for ten users per month. There are no annual contracts. Check the site for a free trial.
NexJ
Features / Benefits
AI agent assistant for many finance industries including insurance
Omnichannel client experience with real-time updates
Very revenue-driven software for sales teams
Insurance tools to help with many policies from single households
There’s a call center integration
Drawbacks
It can require a bit of a learning curve but not impossible
Pricing
To request a demo or learn about rates, visit NexJ’s website.
VanillaSoft
Features / Benefits
All in one insurance sales agent tool and CRM
It’s a special priority-based contact management system
Intelligent lead routing and queuing
Scripting suggestions give agents the right outreach message
Drawbacks
To get the most out of this, you need to take the time to learn it
Pricing
VanillaSoft offers a 14-day free trial. To find out more about prices or request a demo, go to their homepage.
Salesforce
Features / Benefits
Part of the Salesforce greater financial services package
Self-service tools for policy holders
Helps with agent-customer interactions
You get the Salesforce kit of marketing and sales tools
Drawbacks
It’s expensive
Pricing
Salesforce Financial Services Cloud costs $150, $300, or $450 per user per month billed annually.
Odoo
Features / Benefits
Open source CRM tool which can work for insurance sales teams
Lots of apps for invoicing and accounting
You can create custom insurance apps to run on it
Drawbacks
Because of the pricing system, it can get expensive
Pricing
Each app in Odoo is priced separately. For example, CRM is $30 per month, sales is $15 per month. You can see them all on the website. There is also an Odoo free trial.
Conclusion
An insurance agent is like any other modern salesperson. You get the best technology to serve you as an assistant, while you focus on true customer relationships.
An insurance agent CRM gives you both a detailed view of each contact and a bird’s eye view of all your leads in progress. With the best CRM for insurance agencies, you cut down on dropping leads and customer churn. It’s also the only communication tool you’ll need to manage all interactions.
There’s a lot of great winners on this list. Our takeaway is this: If you just want to dip your toe in a CRM, HubSpot CRM or Zoho CRM are always top free starter choices. For larger insurance businesses, AgencyBloc or Insureio are platforms to discover.