Insurance and Retirement
In the insurance and retirement sector, the customer relationship does not end with the issuance of the policy. Quotation preparation, policy issuance, collection, renewal, claims tracking, and cross-selling processes continue throughout the customer's lifecycle. XtraCRM ensures that all these processes are managed in a single workflow linked to the customer.
How does the process work in the industry?
The process usually starts with a new prospect or an existing customer's insurance request. The customer's needs are identified, necessary information and documents are collected, proposals for suitable products are prepared and presented to the customer. When the proposal is accepted, policy issuance and payment processes are followed.
After the policy is issued, the renewal date, collection status, coverage information, customer meetings, and after-sales requests are monitored. In case of a claim, notification, document collection, expert evaluation, and resolution stages can be managed as a separate process. For customers with upcoming renewal periods, new proposals are prepared and communication is planned.
How is XtraCRM adapted to your company's working style?
Each insurance agency or retirement firm has different products, sales channels, and operational steps. In XtraCRM, custom fields, forms, tasks, and workflow stages can be configured according to your company's existing arrangement.
For example, you can create your sales process with stages such as “New Request, Needs Analysis, Awaiting Information and Documents, Preparing Proposal, Proposal Presented, Awaiting Customer Decision, Issued Policy, and Lost.”
You can define different information fields and tracking processes for traffic, casco, health, home, workplace, life, individual pension, or corporate policies. The processes for individual customers and corporate customers can also be arranged separately.
Custom fields you can use
Type of insurance or pension product
Customer and insured information
Insurance company
Quotation and policy number
Policy start and end dates
Premium, payment method, and installment information
Coverage and deductible information
Vehicle, home, workplace, or other insured asset information
Renewal date and renewal status
Claim file and notification number
Missing document and paperwork status
Sales channel, consultant, or agency responsible
Commission rate and entitlement status
Customer contact and open consent preferences
Different information your company needs can also be added to the system as new custom fields. This way, only the necessary information is displayed for each product and the teams work with a standardized record format.
Regularly track renewal processes
You can set tasks and reminders in advance for customers whose policy expiration date is approaching. For example, a task can be assigned to the customer representative 30 days before policy expiration, the quotation preparation process can start 15 days before, and communication outcomes can be recorded.
If renewal is not done, the reason can be collected; loss reasons such as price, customer decision, competitor offers, or unreachable status can be reported. Thus, it can be seen in which products or customer groups renewal rates have declined.
Standardize quotation and policy processes
When a new request arrives, a task can be assigned to the relevant sales consultant. If documents are missing, the record can automatically move to the “Document Pending” stage. When the quotation is sent to the customer, a follow-up date can be created and responsible person alerted for opportunities with no recent action.
Quotations, policies, information forms, and other documents can be stored under the customer record. Phone calls, emails, WhatsApp chats, notes, and tasks can be viewed in the same customer history.
Manage claims and post-sale services
When a damage report is received, a separate record can be created to track notification, documents, expert evaluation, repair, and result phases. Missing documents, last transaction date, information given to the customer, and the next follow-up step can be recorded.
When the customer calls, not only policy information but also ongoing damage or service requests can be viewed on the same screen. This way, different employees can provide consistent and up-to-date information to the customer.
See cross-selling opportunities
The customer's existing policies and needs can be evaluated together. Opportunities can be created for traffic or home insurance for motor customers, workplace or employee health products for corporate customers, and life insurance or individual pension products for suitable customers.
Cross-selling activities can be planned as tasks, campaigns, or opportunity processes. It is possible to measure which product is offered to which customer group and how the results develop.
Create a measurable structure for management
In management screens, new requests, prepared quotations, issued policies, conversion rates, upcoming renewals, renewal success rates, loss reasons, consultant performance, and product-based sales distribution can be tracked.
XtraCRM does not force your company into a fixed sales model. By creating custom fields and workflows according to your products, team, and operational setup, you can make the entire process from prospect to renewal period more organized, measurable, and trackable.
Only information necessary for work should be kept in customer and policy records; health data and other sensitive personal data must be handled according to your company's authorization, storage, and regulatory procedures separately.