- Where Insurance & Technology Meet

From Policy-Driven to Customer-Centric Approach in the Insurance Industry

By Sebastien Forget, CEO, Solutions Metrix

  • Policy-Driven vs Customer-Centric
  • Benefits of Adopting a Customer-Centric Approach
  • Shift to a Customer-Centric Approach with CRM
  • Benefits of a CRM-Based Policy Purchase Process
  • The Future of CRM in Insurance

Customers are the lifeblood of any business, and the insurance industry is no exception. Many insurers are turning to CRM tools to reshape their business from a policy-driven to a customer-centric organization to stay competitive and keep up with changing customer needs.

By tracking customer interactions and data, insurers can personalize policies and services for each individual, improving customer satisfaction and loyalty. A CRM tool can help your insurance company improve its bottom line by:

  • increasing sales,
  • improving efficiency, and
  • reducing churn.

Are you ready to make the switch?

Policy-Driven vs Customer-Centric

A policy-driven company focuses on selling insurance products and services with the primary goal of profiting. On the other hand, a customer-centric company focuses on developing relationships with customers, providing them with the best possible experience. The primary goal is to create long-term customers who are loyal and satisfied with the products and services they receive.

While both approaches have their merits, a customer-centric approach is becoming increasingly popular in the insurance industry as it offers several advantages over the more traditional policy-driven methods.

Benefits of Adopting a Customer-Centric Approach

  • Customer satisfaction: Insurance companies can increase customer satisfaction by focusing on developing relationships with customers and providing them with personalized services.
  • Increased sales: Happy customers are more likely to buy additional products and services from their insurer and recommend the company to friends and family.
  • Reduced churn: When customers are satisfied with their experience, they are less likely to switch to another insurer.
  • Improved efficiency: By tracking customer interactions and data, insurers can identify areas to improve their processes and make more efficient use of their resources.

Shift to a Customer-Centric Approach with CRM

A CRM system provides an insurance company with a 360-degree view of their customer base by tracking and storing customer data. This data can include contact information, policy details, claims history, and interactions with the company.

Having this information in one place, insurers can get a complete picture of their customers and better tailor their products and services to meet their needs. In addition, a CRM system can help insurance companies to identify cross-sell opportunities, track marketing campaigns, and improve customer service.

A CRM system is essential for insurance companies that want to shift from policy-driven to customer-centric organizations. By tracking customer data and interactions, insurers can identify opportunities to improve the customer experience.

A CRM offers a unified portal that provides a single view of the customer, which helps to increase transparency and improve communication between departments, thus breaking down silos.

The system would also provide a streamlined way to manage the entire customer lifecycle from beginning to end. Additionally, a CRM can help to upsell and cross-sell customers by providing a customer-specific view.

For example, if a customer has purchased a policy, they may be interested in purchasing related products or services. Customers can also update their policy details and preferences directly in the CRM system, making it easy for employees to provide them with the best possible service.

It can also help create a unique journey for each customer based on their individual needs and preferences. A CRM can help identify patterns and trends that are used to personalize the customer experience, offering them the most relevant products and services at the right time.

With this level of timeliness and uniqueness, insurance companies can build long-term relationships with their customers based on trust and mutual understanding.

Benefits of a CRM-Based Policy Purchase Process

In the past, individuals would typically visit an insurance agent to purchase an insurance policy. The agent would then collect customer information and submit it to the insurer. The insurer would review the information and issue a quote. The customer would then have to wait for the agent to receive the quote before deciding.

This process is no longer necessary with a CRM tool. Customers can now get a quote and purchase a policy directly from the insurer without going through an agent. This not only saves time but also reduces the chances of errors.

The CRM tool does this using the collected customer data. This data can then be used to generate a quote automatically. Combined with customer interaction tracking, this information can be used to provide a more personalized quote.

Most importantly, a CRM tool can be used to create a workflow for the quoting process. This workflow can help to ensure that all the necessary steps are taken to generate an accurate quote.

Visibility in the insurance underwriting process is another benefit of a CRM. Collecting information in one place can make life easier for underwriters. They can use it to make more informed decisions about which policies to approve or deny. This means that you can track each application from start to finish and identify the areas where the process is falling short.

In addition, a CRM can generate automatic reports on underwriting activities, making it easier for insurance companies to identify and correct any potential issues. As a result, using a CRM can help to improve the efficiency and accuracy of the insurance underwriting process.

Furthermore, a CRM can automate communications with applicants. This can help to reduce the number of calls and free up staff to handle other tasks.

Finally, a CRM can be used to manage consent. The system can keep track of the type of consent that has been given by each customer and ensures that only authorized staff has access to this information.

The Future of CRM in Insurance

The days insurance companies dictating what policies a customer should buy are coming to an end. Customers are no longer content with being told what is best for them–they want to be heard and have a say in their coverage.

To stay profitable, companies must shift from a policy-driven approach to putting the customer first. This involves implementing a CRM system that will collect data about each customer interaction and use it to personalize future interactions.

About The Author

Sebastien Forget an entrepreneur with a deep knowledge of how technologies can help companies navigate the CX digital transformation landscape. He helps executives achieve their business goals with technology by defining a strategic CRM Roadmap. Sebastien is passionate about educating businesses on the best practices on Customer Relationship Management

About Solutions Metrix

Since 2001, Solutions Metrix, a Canadian company, has completed more than 300 successful customer relationship management (CRM) implementations for recognized systems such as Creatio, SugarCRM,, Oracle Sales Cloud, and Microsoft Dynamics CRM.

Each implementation is personalized to be the most adapted to their clients’ business needs. Over the years, Solutions Metrix has developed a successful step-by-step implementation process. In fact, they have a double mission. Firstly, they determine which is the best platform for their clients and make modifications according to their specific needs and develop a tool that reflects clients’ business processes. Secondly, they provide a method for using custom-designed CRM while handling characteristics such as sales, marketing, customer service, and data management.

By considering essential company needs, they present clients with a service offer that contains an accurate cost estimate for each phase of the project. But Solutions Metrix doesn’t just come up with an offer, they help you identify your needs.

Specialists at Solutions Metrix implement CRM systems as an effective working tool rather than a simple reporting database. Their hundreds of successful business cases have proven Solutions Metrix as CRM implementation top expert.

Solutions Metrix’s customized approach enhances the appropriation and adoption of CRM solutions.

For more information, visit

SOURCE: Solutions Metrix