Industry challenges:

The long list of data related tasks in the insurance sector include keeping track of different products and timelines, claims, and customer data, which is just the tip of the iceberg. Adding to those are keeping track of agent performance, finding suitable products for each stage of a customer life cycle to stay relevant to their needs, and so on. It is quite difficult to navigate through this much data to find actionable insights to accelerate business growth. It takes a lot of time and manual effort to gain valuable insights from various data sources. Unless, you have the right tool. 

 

Business Scenarios:

Creating reports to visualize the data in CRM can be a long and tedious process without effective analytics tools. Without proper customer insights, it makes it difficult to equip them with the right products or keep them updated about new products. For example, if your life insurance policy holder has updated their marital status, then you may reach out to them for spousal insurance. This will help to increase the lifetime value of customers. Also, it will show them that you are growing with their changing needs. In turn, this adds to brand value and increases loyalty, thus cutting down on new customer acquisition costs. 

 

To achieve this you need to set different data driven goals for your business and track the metrics to measure success. 

 

Benefits:

1. Sync all the data from CRM and create a separate database in Zoho Analytics. From this database you will create separate reports for each product/policy holder. 

2. Achieve analytic insights into business achieved against targets, geography wise, product wise, and help yourself in implementing corrective measures to achieve the planned target. 

3. Identify policyholders who are at risk of churning, track your KPI’s, and do much more with Zoho Analytics integrated with Zoho CRM.

More: 

Related Videos

Related Resources

Learn more about this integration

 

Go to the previous post