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Education“A combination of clearly defined processes and LeadSquared’s automation has made our operations completely error-free. Automated lead assignment also helps us save a lot of time and bandwidth, and we can focus on what we do best—provide good insurance advice and service.”
Co-founder
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Increase in leads
Sales Workflow
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Lead Management
Most insurance buyers find it hard to understand lengthy and jargon-laden insurance policy documents. The insurance firm solves this problem by helping users understand the policies in simple language, compare them, and shortlist the best ones for them. The team provides call and WhatsApp-based assistance to clarify user doubts. Their advice focuses on health and term insurance for now, which will diversify in the future.
The advisors call to understand parameters like buyer’s income level, spending patterns, and more and suggest options accordingly. Their advisors concentrate on suggesting the covers they would choose for themselves.
1. Lead capture and distribution was unorganized and took up a lot of time
2. Maintaining the quality of calls while scaling up seemed impossible.
3. It was hard to identify the stage at which the user was ready to decide
4. The advisors couldn’t see their daily tasks—calls to make, documents to share—this resulted in missed tasks.
1. Lead Capture and distribution automation makes the process error-free and frees up the team’s time.
2. Conversation tracking allows the insurance firm to keep track of each team member’s call durations and quality.
3. LeadSquared tracks and notifies the team members as the user moves from one stage of buying to the next.
4. On LeadSquared’s dashboards, each advisor gets a daily agenda to organize their tasks. Timely reminders ensure that no activity or follow-up is missed.
The insurance firm’s team of advisors started small, but the high quality of the advice and service ensured that the demand from buyers rose rapidly. Every advisor’s call with a user lasts roughly 30 minutes. Soon the advisors were overbooked, and the insurance firm had to increase the team size to accommodate the demand.
As the team grew, they encountered the typical challenges of scaling up- maintaining the quality of calls, booking the sessions and sending confirmations, while ensuring the time and resources weren’t being misallocated to low-value operational tasks. Keeping logs on google sheets and tracking previous conversations became extremely difficult as well. They couldn’t resolve these operational challenges with Airtable. That’s when they decided that it was time to team up with a CRM to tackle these obstacles.
Their expectations from the CRM included call recording and monitoring, fast dialling, and conversation tracking. Rapid growth meant that they already had plans for complex use cases, such as claim filing. After finalizing the scope of their requirements, they decided they definitely needed customizable workflows and automation from their CRM.
After long deliberation, the insurance firm shortlisted Pipedrive, FreshSales, Zoho, and LeadSquared. Since the insurance firm work on a slightly different model from most insurance companies, they needed workflows worked well for insurance businesses but can be customized to fit their requirements. Finally, they found the right balance of automation and customizations with LeadSquared.
After a short implementation and training period, they achieved the results that they had been aiming for. Here’s how they did it:
Unlike most insurance marketplaces, the insurance firm doesn’t reach out to the buyers unless they request a call. They also accept only a fixed number of appointments and dedicate a 30-min slot for each call. During the call, the advisor shares their recommendations, but the buyer is under no obligation to buy.
With a big team, scheduling calls, keeping the appointments, and monitoring their quality became increasingly difficult. After moving from Google sheets to LeadSquared, the team can now track the number of calls made and their durations. The recordings help them consistently improve the quality of the calls and the advice shared.
After a sale, the insurance firm helps their buyers with the application process—including document verification and medical check-ups. Since they cover each stage in the buyer’s end-to-end journey, they need frequent contact points with the buyer.
As the number of calls goes up, LeadSquared continues to handle them with ease. The advisors can view their daily contact agenda so that no follow-up or important call gets missed. As the buyer moves from one stage to another, their status gets updated on its own.
LeadSquared Automations simplify the insurance firm’s sales process as well. They save a significant amount of time with the built-in-dialer and dynamic forms that the advisors use to enrich lead information. They integrated their own API for WhatsApp conversations on Linkedin so that all the communication channels were covered.
Keeping track of the leads added to the system from different sources was complicated and manual. With LeadSquared, lead capture and distribution are automated based on advisors’ availability. The right processes helped increase the number of leads by 30-40%. The reports and analytics also help them gain insights to constantly optimize their workflows.
The insurance firm aims to become the one-stop solution for all insurance-related doubts or inquiries. To achieve this, they needed to focus on maintaining the quality of their advice. Manual processes and record maintenance had become a stumbling roadblock to their philosophy of high quality. LeadSquared has helped them automate their sales workflows and scale up without compromising on any user’s experience
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