In a world of cutthroat competition and razor-thin margins, life insurance agents need an edge. In addition to a high-quality product, agencies need to appeal to customers. Finding new buyers and markets is essential. CRM software helps you track and market to potential buyers. It also ensures current clients remain dedicated and happy with the service you provide. CRM software goes beyond helping you find and keep clients. It also frees you to provide that one-on-one customer service that keeps them coming back. Here is our list of the 7 best CRM for life insurance agents.
7 Best CRM for Life Insurance Agents
- BindHQ – The Best CRM Solution
- Sugar CRM – Best On-Premises CRM
- ApiZeal – Best for American Agencies
- My Insurer – Best for Agencies Based in Asia
- EngageBay – Best Budget Option for Small Business
- Next Agency – Full Suite of Agency Tools
- Agency Bloc – Best for Customer Retention
1. BindHQ – The Best CRM Solution
PRICING: From $300/month.
We recommend BindHQ as the best CRM solution for insurance agents. The company is highly rated across multiple platforms. The interface is adaptable and easy to understand. We also like the fact BindHQ is scalable and works to grow your business. This software performs complex claims processing and keeps you on task for your best performance metrics ever.
KEY FEATURES:
- BindHQ allows easy browsing and filtering of speciality quotes. Agents won’t have to memorize or spend a long time looking up rates. Client questions can be answered promptly to keep them engaged.
- Includes a customer portal so clients can access their information and request changes promptly. Scheduling tools are also available. Clients feel their needs are met and client retention improves.
- A simple layout reduces delays and increases performance.
REASONS TO BUY:
- BindHQ comes recommended by leading insurance agencies, including Keating, Scottish American, Empire Underwriters, and Jencap. The CRM software is trusted and has been proven to excel time and again.
- Highly intuitive and easy to work with. Easily integrates with other platforms and services for a seamless work experience.
REASONS TO AVOID:
- Some users have experienced minor glitches which could require restart or updates.
- File storage customization features are lacking and might not meet the needs of all businesses.
2. Sugar CRM – Best On-Premises CRM
PRICING: From $80/month per user
Sugar CRM is a newcomer to the insurance CRM market. The company was developed in 2019 by Craig Charlton. It’s based in California and serves an estimated 2 million users. The specialty of the house is Sugar’s on-premises CRM. The company aims to help you understand customer needs better so you make more sales and keep your client base happy.
KEY FEATURES:
- AI software to help maintain focus.
- Software that helps you understand clients’ needs and better engage with them.
- Intuitive UI where you can drag and drop the information to automatically receive quotes and facts.
REASONS TO BUY:
- Automated insights enable accurate predictions so you can tend to the most important issues first. The intelligence software enables agents to focus on clients and markets rather than spend time on research.
- Sugar CRM is highly adaptable and flexible to meet the needs of different agencies. Many features are customizable to work for your business.
REASONS TO AVOID:
- Some reviewers say the UX is slow or clunky.
- SMS permissions are not easily altered. Some users had difficulty sending reminders or following up with clients out of the office.
3. ApiZeal – Best for American Agencies
PRICING: A one-time $25 fee plus $20/user each month.
ApiZeal was founded by Joel Martinez in 2019. The company is based in Orlando, Florida. Unlike some competitors, ApiZeal focuses specifically on the health and life insurance industries. The applications are customizable to make sure your agency’s needs are met. The company also works with individual agents.
KEY FEATURES:
- Everything is in one place. ApiZeal eliminates the need for multiple programs such as Excel or Microsoft Office.
- Custom profiles for each agent in the company. You can easily set restrictions and privileges based on group, job title, or performance.
- Spanish-language support options are available for agents across the Americas.
REASONS TO BUY:
- The online platform allows clients to easily update the information so you’re never left without accurate records.
- ApiZeal offers free onboarding support video calls. They also provide a data migration service that saves you time and money. Transfer files and records easily.
REASONS TO AVOID:
- Although most reviews are overwhelmingly positive, a few said they had trouble locating records.
4. My Insurer – Best for Agencies Based in Asia
PRICING:
My Insurer is based in Singapore and is designed to serve the Asian insurance market. The company serves independent agents and established agencies. Security is a primary feature My Insurer offers over the competition. The company is FinTech certified and offers a unique “insure-tech” platform.
KEY FEATURES:
- Contact management maintains communication with clients to promote retention and customer satisfaction.
- Includes a free app that customers can download to resolve simple questions and send in requests. The app saves staff time and increases workflow.
REASONS TO BUY:
- Customers and policyholders love the web platform My Insurer provides. It is easy for buyers to log in and review statements, make payments, or ask questions. This promotes customer retention.
- My Insurer has tools specifically designed for the life insurance industry.
REASONS TO AVOID:
- My Insurer can be used with a variety of open-source platforms and programs. These include WhatsApp, Microsoft Azure, and Jitsi Meet. Some companies may not consider these solutions secure. Also, open-source tools may not be regularly updated or verified.
- Some users find the interface cluttered or difficult to understand.
5. HawkSoft – Best for Managing Workflow
PRICING: Contact HawkSoft directly for a quote.
Has your agency faced difficulty coping with workflow? HawkSoft transforms overburdened offices and agencies into productive and efficient ones. Their specialty is claimant and policyholder retention. Keep your clients satisfied and coming back for more. Hawksoft helps motivate staff with features such as commissions management. Clients will appreciate quick quotes and policy management.
KEY FEATURES:
- The interface is fast and simple. You’ll learn it quickly and get right to work. There are no complicated classes or training sessions required.
- HawkSoft uses analytics to determine which clients need your attention. This enables you to better serve their needs and keep customers satisfied.
- Document management and easy quotes to quickly finish calls.
REASONS TO BUY:
- HawkSoft is independently owned. The company exists to benefit clients, not shareholders.
- The brand is known for outstanding customer service. A full 97% of issues are addressed the first time you call. Nearly all users recommend the software highly. Most reviewers feel the company offers a personal touch and genuinely cares.
REASONS TO AVOID:
- Some reviewers find the software provides more than they need. There are dozens of features and tools available in the suite. For some agencies, this may be overwhelming.
- Some claims require manual input or may not be sorted as specifically as with competitor software.
6. EngageBay – Best Budget Option for Small Business
PRICING: Free version or from $11/month
EngageBay provides the solutions smaller agencies need at a price anyone can afford. The service is available free or at a very low cost. The suite of software combines CRM with marketing and sales tools that work for insurance agents. Lead generation and retention become easy with EngageBay. The software is also highly rated and has been shortlisted for numerous Capterra awards.
KEY FEATURES:
- Interactive communication options to keep you in touch with clients. Handles business email and client communications.
- Allows you to target specific audiences. You can easily identify niche markets and potential clients rather than casting a wide net.
REASONS TO BUY:
- Start-ups and independent agents can benefit from the free and discounted options EngageBay delivers. Get the functionality without the expense.
- Many reviewers say EngageBay is fast and efficient.
- The software has great credentials. It has been featured in Forbes, Inc, Neil Patel and Entrepreneur Magazine.
REASONS TO AVOID:
- EngageBay delivers free and low-cost software solutions intended for smaller businesses and independent agents. Established agencies may not find the system sufficient for their needs.
- There is no SMS functionality. Those who rely on messaging to schedule and communicate with clients may run into issues.
- Some say this software is clunky and less intuitive than other options.
7. Next Agency – Full Suite of Agency Tools
PRICING: Prices start at $75/month.
Next Agency promotes itself as a full agency management system. In addition to top-notch CRM, you also get a variety of tools. Next Agency allows you to customize your dashboard with the apps and features you use most. Combine customer relations management with marketing tools like Mail Chimp, payment tools like QuickBooks, and Zendesk customer support. You’ll be more efficient and effective, allowing your business to grow.
KEY FEATURES:
- Support multiple agents with commission management and tracking. Schedule commission payments and divide between agencies and different agents. You can also split commissions to support teams or departments.
- Scheduling software allows individual agents and teams to access upcoming meetings. The whole team can be present or prepare for a deadline.
REASONS TO BUY:
- Next Agency is focused uniquely on the needs of life insurance agents and agencies. The software is specific to the industry.
- Strong customer service. If you run into a problem, the team is supportive and knowledgeable.
REASONS TO AVOID:
- Some users mention small bugs or glitches. These are likely to be addressed in future updates.
8. Agency Bloc – Best for Customer Retention
PRICING: From $75/month.
We like Agency Bloc because of its dedication to customer relations. All CRM software is designed to improve the way your company bonds with clients. However, Agency Bloc goes the extra mile in building relationships. Strong connections and buyer approval sell more policies and ensure return clients. Automate and customize responses so buyers feel engaged. Agency Bloc also assists with marketing and everyday business procedures.
KEY FEATURES:
- Simple commission management. Keep track of purchases, claims, and commissions per agent or client. Easily evaluate performance metrics to maintain a high-quality workforce.
- Document and policy management. Recordkeeping is easy.
REASONS TO BUY:
- Agency Bloc imports your current data, making upgrades easy. You won’t have to enter information by hand. Just import your existing files and they will all be ready for access.
- Track activity and easily check on past performance. You won’t spend hours searching for claims or other records.
- Agency Bloc has excellent customer service.
REASONS TO AVOID:
- Agency Bloc is web and cloud-based. It is not available for download or use on your device. Some agencies may require offline access, which isn’t available with this program.
FAQ
Why should my agency use CRM software?
A. Everyone wants to grow their business. Maintaining strong, positive connections with your customers and potential buyers is crucial to making this happen. CRM software enables you to build relationships that keep shoppers or clients coming back. CRM software also lets you manage different parts of your daily work. You can monitor productivity, sales figures, and inventory easily. You’ll be reminded of important dates, communications, and events. Orders won’t get lost and appointments won’t be missed.
How do I choose the right CRM software?
A. Choosing the right CRM software is important. Not all are the same. Make sure you research until you find one that is tailored to your industry. Also, consider your company’s size when making a purchase. Some software is tailored for enterprises while others are best for small businesses. Evaluate features and make sure the one you choose provides everything you want. Also verify the customer service, updates and maintenance. Check reviews or enquire with business candidates.
What are some issues agents without CRM software face?
A. Today’s customers expect instant replies and constant communication. Those without excellent CR management software struggle to maintain good relationships with buyers. Many insurance agents have experienced setbacks due to scheduling or communication problems. A missed call or delayed reply means the client goes elsewhere. Agents who don’t have software also waste more time getting everyday routine tasks done. Work may not flow smoothly and paperwork can get lost.
I’m an independent insurance agent. I need a flexible option. What should I look for?
Independent agents and smaller businesses should look for intuitive, easy-to-use software. You may not have the resources to hire IT support or dedicate hours to learning a new program. Make sure you’re not paying for extras you don’t need. Multi-location, multi-agent software may be too heavy or complicated for your needs.
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