Customer relationship management (CRM) software is the largest and fastest-growing software market in the world, expected to reach more than $80 billion in revenue by 2025.

With the right CRM software, your insurance agency can build stronger relationships with clients, stay more organized, and accelerate growth. CRM technology can support your insurance sales and marketing processes, nurture client relationships, and boost your bottom line. But don’t just take our word for it.

According to Nucleus Research, the average ROI on CRM is $8.71 per dollar spent. However, that was back in 2014. CRM has gained astronomical momentum since then. Dynamic Consultants Group calculates the ROI today to be approximately $30.48 for every dollar.

It’s not a matter of if it’s time to invest in CRM software but which tool to implement. In this guide, we narrow down the list to the best insurance agency CRM services available today.

On Deck (Table of Contents)

• What is an agency management system (AMS)?
• What is insurance agency CRM software?
• Why do insurance agencies need CRM software?
• Essential CRM Software Features for Insurance Agents
• What’s the Best Insurance Agency CRM?
• Our Take on the #1 Insurance Agency CRM
• Need help finding the best CRM for your insurance agency?

What is an agency management system (AMS)?

Before we dive into CRM software, let’s briefly touch on agency management systems. An AMS is software as a service (SaaS) that helps insurance agencies manage their business and operations successfully. An AMS is a CRM, but it can be more specific to the industry and offer more tools than a generic CRM. Many of the platforms we include in our list below are also agency management systems.

An AMS houses customer, operational, and financial data – all in one place. It allows you to manage customer relationships (like a CRM) and run marketing automation to boost client relations and trust. You can customize a basic CRM to act as an AMS – with a custom Salesforce solution, for example.

What is insurance agency CRM software?

CRM software simplifies the often-complicated insurance workflow for agents. It automates tasks and reduces the need for manual data entry. As an agent, you can avoid carrying around bulky folders and physical copies of information by efficiently tracking leads and carrying insurance application files, policies, and referral information using one CRM system.

A CRM can help you manage details, organize leads, track insurance company information, and complete menial tasks. It can also automate marketing and outreach to help you stay in touch and build greater trust with clients.

Why do insurance agencies need CRM software?

As an insurance agent, you have a lot on your hands. A tool that can run intensive tasks for you behind the scenes and track critical information can free up your time and ensure precision in your efforts. Here are five top benefits of incorporating a CRM into your business operations.

Better Customer Relationships

A robust CRM system can give you a 360-degree view of every customer. This means you can view every interaction and customer touchpoint. You’ll better understand your customers’ needs so you can communicate more effectively, create a better customer experience (CX), and increase loyalty and retention.

Your CRM software has the power to boost your lead conversion rates by 300% and purchase value by 40%, according to Forrester Research.

Comprehensive Data Management

As an insurance agent, you have a plethora of crucial information to organize and track. Each client has a specific policy, needs, and conditions. With a CRM, you can easily track and access customer data at any time or place. You can also manage data for numerous insurance companies and trace internal communication with other agents.

Lead Prioritization

Your CRM can sort and prioritize leads for you, so you know who to reach out to next and who you’ve already communicated with. It can segment customers based on specific criteria.

Forecasting Sales and Scaling

Drawing from data, an insurance-focused CRM can help you identify trends and forecast sales opportunities. You can use the information to plan more intelligent campaigns, budget, and introduce relevant products and services. By identifying what’s working and what’s not, your team can scale processes accordingly to grow your business.

Advanced Sales and Marketing Tools

Your CRM can provide marketing and sales automation features, such as email marketing and automated workflows. Capture leads from your website and collect feedback. Track leads from initial inquiries to customer conversions, and then retain them by keeping leads engaged, informed, and satisfied.

Essential CRM Software Features for Insurance Agents

When deciding on the best CRM for your insurance agency, look for the following features:

• Automated sales processes and workflows
• Commission tracking
• Insurance policy tracking
• Referral marketing
• Email marketing templates
• Automated lead allocation
• Scalability
• Customizable features

What’s the best insurance agency CRM?

Based on the features listed above, these are our top picks for insurance agency CRM services.

1. Salesforce

Known as “the world’s #1 CRM solution,” Salesforce is one of the most popular customer relationship management systems for insurance agencies. Businesses of all sizes can utilize this highly customizable platform, although it may be a better fit for agencies that can afford the higher price tag. Agents and insurance reps can deliver personalized communications across any channel or device.

Gain a 360-degree view of your customers and prioritize leads based on urgency. Connect with customers at any time on any device using video chat and real-time interactions. Salesforce even empowers your customers to track their claims proactively.

Salesforce is complex and highly intuitive, allowing it to manage complex operations. However, this also means your agency may need to hire one or more Salesforce administrators in-house or outsource to a team that offers full-service Salesforce Platform Support.

Price: Varies based on business needs.

2. Better Agency

Better Agency brings sales, service, renewals, tasks, and claims together under one roof. The system was designed specifically for independent agents, empowering them to automate their pipelines to sell more premium.

With this platform, you can manage your insurance business and automate the customer lifecycle (from selling to renewing and managing claims). The CRM offers over 100 pre-built automation campaigns for:

• Google reviews
• Cross-selling
• Win-backs
• Long-term nurturing
• And more

Price: Ranges from $299 to $699 per month, billed monthly

3. HubSpot CRM

HubSpot – one of Salesforce’s top contenders – is a preferred solution for many enterprise-level organizations. The powerful system provides advanced marketing automation features and can facilitate faster website conversions (through blogging and search engine optimization). It also features email marketing, lead capture forms, live chat, scheduling tools, and contact management. You can manage quotes and invoices easily through the platform.

One downside is the price. The more you add to your HubSpot plan, the pricier it gets. While HubSpot does offer a free plan, it’s very limited.

Price: Ranges from $0 to $3,200 per month, billed annually

4. Radius

Radius is a cloud-based CRM with industry-specific features like:

• Marketing and sales automation
• Contact management
• Data sourcing
• Lead scoring
• Organization tools
• A native VoIP integration
• Quote engines
• Predictive intelligence

This platform is highly customizable. One downside is that it doesn’t provide businesses with leads worldwide. Maybe highlight the main countries Radius provides leads from here.

Price: Ranges from $34 to $732 per month, billed monthly

5. Zoho CRM

Zoho empowers you to easily design and personalize your CRM interface to meet your agency’s needs. The Zoho team is continually improving their system by adding more intelligent functionalities, integrations, and contact management features.

The system includes email marketing tools, reporting features, call logging, and website lead-capture forms. You can optimize communication and reach customers on every channel (including social media). The CRM tool’s predictive intelligence offers suggestions to move contacts through the buyer’s journey.

Possible downsides include the software’s lack of lead scoring, built-in renewal functionality, and deal management. It also has limited customer support.

Price: Ranges from $14 to $52 per month, billed annually

6. Freshworks

Freshworks is another insurance-specific CRM. It gives users a comprehensive, contextual view of every customer and delivers personalized experiences using artificial intelligence (AI). You can automate tasks to streamline your sales process and leverage your data to sell more effectively. Other top features include AI-powered Chatbots and customizable web forms to capture visitor information.

One disadvantage is Freshworks’ inability to issue quotes and send invoices.

Price: Ranges from $0 to $69 per month, billed annually

7. Insureio

Insureio is one of the top systems on the market for life insurance agencies. It serves small businesses (including sole proprietors) and large businesses alike and can scale with you as you grow.

To reduce paperwork, you can opt for e-applications and e-signatures and quickly view policy or customer information on the spot. Track and route leads, manage agency and marketing activities, and automate key tasks to optimize the customer journey across any channel.

Keep in mind that you won’t access the most advanced features unless you upgrade to a higher-priced plan.

Price: Ranges from $25 to $75 per month, billed monthly

8. AgencyZoom

AgencyZoom is a simplified all-in-one insurance-specific solution. With it, you can manage leads, onboard new customers, track sales, and manage your goals using a basic yet intuitive interface. You can set up automated workflows for marketing initiatives, Google reviews, referrals, and following up with customers at optimal times.

AgencyZoom provides specific plans for independent agents, Allstate Agents, and Farmers Agents. Unfortunately, the CRM doesn’t have a native SMS texting functionality, and it can be time-consuming to build marketing campaigns.

Price: Ranges from $79 to $249 per month, billed monthly

Our Take on the #1 Insurance Agency CRM

If you want a solution custom fit to your needs that gives you complete control over your environment and allows you to rapidly accelerate your growth, choose a custom Salesforce solution.

Some of our top reasons we love Salesforce:

• A diverse range of applications for companies across a variety of departments and industries including insurance, sales, service, marketing, financial services, healthcare, nonprofit, and more. 
• A vast list of integrations & pre-built apps available on the AppExchange help you connect other systems and get up and running quickly.
• A large and collaborative community of enthusiastic Salesforce users and customers!
• Free and extensive Trailhead training system and help forums.
• The long-term benefits/scalability Salesforce offers.
• Robust reporting and dashboard features.

When it comes to your CRM – like many other things in life – you get what you pay for.

Need help finding the best CRM for your insurance agency?

Ready to take the helm and chart a better course for 2022? A CRM could be the treasure trove you’ve been searching for. If you’re still not sure which CRM solution is best for your insurance agency, don’t hesitate to contact us. We’re happy to help you navigate your company’s unique needs and pinpoint the best option.