Insurance agencies have an increasing number of business solutions and information about customers littered across these solutions. Often agents have to jump between these systems when they interact with customers which means they can have a hard time keeping track of previous conversations with a customer.
A major question among agency leaders is how to create a central platform to leverage the data from their disparate solutions to get a better overall view of customer information in order to improve client service. Many customer-related processes, like policy renewals, still involve tedious, manual work, but there are now solutions which provide a single source of truth that enables agents to deepen their relationships with customers and provide a better customer experience.
Insurance agents are still using manual work to manage policy renewals, this is resource and time intensive. X-date information is collected by the agency and the data is manually input into its AMS as well as a spreadsheet where teams track policy renewals. Apart from the amount of manual work needed to maintain this process, it does not allow agents to accurately set up reminders and alerts to contact clients when policies are up for renewal. In addition, errors can creep in and cost the business to miss out on valuable policy renewal opportunities. Spreadsheets are usually updated periodically and are unable to give real-time access to client information, making it more difficult to follow up in a deliberate, consistent way.
In digital marketing, it is now common to use a centralized database that has all the information about leads and clients. This helps to align marketing, sales, and customer service efforts to provide a best-in-class experience to clients. Teams can therefore spend more time selling, and less time doing manual data entry.
HubSpot is one of the leading solutions for digital marketing. Its marketing and sales automation functions can significantly improve the way communication happens with leads and clients. It can create email templates, and schedule both emails and outbound calls, avoiding the need for spreadsheets. According to HubSpot, companies that use its Sales and Marketing Hub see a 74% increase in deal close rate after 12 months, and with Sales and Service Hub they see a 124% increase in deals won after 12 months.
How can insurance agencies get their data from their AMS and other systems into HubSpot? They need to integrate the data from their business systems into the HubSpot database. To do this, they should use an integration platform which automates the integration of data from different systems into HubSpot. Trying to program their own integration is costly, error-prone, and takes significantly more time. An integration platform automates the Integrations saves time collating data, ensures data is up-to-date, and reduces the potential for errors that occur with manual data transfer.
HubSpot enables integration by providing many endpoints to integrate to different functions, such as contacts, companies and emails. It does this through APIs (Application Programming Interfaces) which allow data to be pulled from the AMS and integrated into HubSpot. This allows policy renewal information to be automatically updated into HubSpot, which will set up emails to customers for a future date without requiring any human intervention.
By using an integration platform to transfer data from a business system, such as an AMS, into HubSpot, agencies have the ability to quickly and efficiently follow up with clients, who will see it as a sign of competency and excellent client service. In HubSpot, agents can see the clients that they need to renew and therefore have the opportunity to cross- or up-sell.
The Synatic Data Integration Hub (DIH) extracts data from an agency’s business applications and transfers it into HubSpot which then sets up the contact messaging and reminder time. The DIH takes the x-dates from the AMS and loads them into the deal object in HubSpot. Alerts can be set to help agents contact clients 45 days from the renewal date for personal lines, or 90 days for commercial lines. The DIH can create new deals in HubSpot that then need to be followed up, making it easier for your agents to prioritize their work.
Synatic is well versed at integrating HubSpot with an agency’s AMS. The Synatic DIH has pre-built connectors for HubSpot which makes the integration quick to implement. Agencies therefore can see a shorter time-to-value from their investment. In addition, Synatic can provide a support service to help agencies get up to speed quickly and start using their AMS together with HubSpot.
To learn more about how you can simplify policy renewals by integrate your AMS data with HubSpot, contact Synatic today.
