Breaking the Silos Between AMS and CRM Helps Insurance Firms Maximize CX and Boost Efficiencies

Insurance agencies around the world have pivoted their efforts from a purely revenue focus to ensuring they are meeting and exceeding customer expectations. To achieve this, agency leaders must leverage every scrap of data they have, and this means ensuring all their systems dealing with customer data are properly integrated.  

According ​​to the 2023 Gartner CIO and Technology Executive Survey, insurance leaders have switched their focus from growing revenue to improving customer experience and operational efficiency in order to shore up gaps that have crept in over the years.  

The research company points out that “Insurers need more customer data, including more behavioral and preferential data, to effectively execute digital business strategies aimed at cross-sell/upsell, personalization, dynamic customer engagement, and revenue growth through new products/service.”    

Data, Data Everywhere, Except Where it’s Needed

While everyone can agree that data is mission-critical in insurance, most agencies have swathes of data floating around in multiple systems. Much of this data goes unused, largely because the companies can’t answer what data they have, know where it is, what it contains, or who is responsible for it. More importantly, they can’t describe how it relates to other data within the business. This is especially true when it comes to vital information residing in the AMS and CRM systems - the two most important systems when it comes to how agencies manage their customer data.  

Poor or makeshift integrations between an agency’s AMS and CRM system is one of the major reasons teams can’t access meaningful data. Data often only properly flows in one direction, cutting the company off from the many benefits of democratizing data to gather insights.  

Without the ability to layer data, agents don’t have a unified view of their customers. This means they are effectively losing out on all the benefits that modern data analysis can offer - and that their competitors are undoubtedly using.  

For instance, layered data can provide agents with a comprehensive understanding of their client's needs, behaviors, and preferences, all of which can be used to personalize offerings and significantly improve customer satisfaction.  

When agents don’t have access to layered data through a properly integrated AMS and CRM system, they aren’t able to get a consolidated view of their customers. This means agents can’t provide timeous and relevant assistance to their clients, putting them at a significant disadvantage when compared to competitors. This is especially true of the more nimble insurtechs that have quickly gained popularity amongst customers looking for rapid, relevant, personalized offerings that change along with their needs.  

Create a Bidirectional Flow of all Relevant Information

Synatic’s CRM Sync solution allows insurance firms to connect their applications, data, and processes through real-time integration and without the need for complex coding.  

The solution allows insurance agencies to move their data bi-directionally between their AMS and CRM system, enabling agents to effortlessly access their client information in the CRM system, where they spend much of their administrative time, without having to jump between systems continuously.  

The Synatic solution is designed to provide the best possible data foundation for agencies looking to centralize their data.  

By democratizing agency data and allowing data to move seamlessly between the AMS and CRM system, agents can enjoy the full benefit of shared data. What’s more, by integrating these two systems, agencies can lay the foundation for the automation of many of their daily tasks, such as policy renewals, up-selling and cross-selling and first notice of loss (FNOL) notifications.  

Driving Efficiencies While Maximizing Customer Satisfaction

By properly integrating the AMS with the CRM system, insurance agencies can centralize their data. This allows them to tap into the many benefits of layered data, giving agents an accurate picture of the overall client profile. This allows them to cross and upsell, especially when clients experience major life events like marriage or childbirth and their needs shift dramatically.  

Centralized data also means faster speeds and increased accuracy, without the need for manual re-entry between systems. This allows agents to resolve queries and ensure clients get exactly what they are looking for, exactly when they need it.  

When it comes to reporting, agents can draw on insights from data across all relevant systems, giving them a detailed and holistic view of all aspects of their customer relationships, including sales, marketing, customer service, and even accounting and finance. This allows teams to build comprehensive reports and make better decisions.

A complete view of the client, tapping into all the appropriate available data, means an enhanced, personalized customer experience, resulting in better client retention. For agencies looking to optimize their efficiencies, while still delivering the best customer experience possible, turning to Synatic to properly sync their AMS and CRM systems is the first and most important step for insurance leaders looking to meet their business goals. If you are looking to maximize your customers’ experience and boost operational efficiencies, contact Synatic today.

Katlego Malahlela
November 28, 2023
More From The Blog: