Growing competition. Demanding regulations. An increasing focus on security. Responding to such unrelenting pressure demands digital transformation in insurance industry.
ERP (Enterprise Resource Planning) and CRM (Customer Relationship Management) systems are crucial for the insurance industry, offering significant benefits in efficiency, customer service, and compliance. ERP streamlines internal operations, while CRM enhances customer interactions and sales processes, leading to improved business outcomes and a competitive edge.
By leveraging these features, automotive manufacturers can improve efficiency, reduce costs, enhance product quality, and ultimately increase customer satisfaction.
CRM Features (Customer-Facing)
Focus: Sales, Customer Service, Relationship Management
- Capture leads from multiple channels (web, calls, agents).
- Automated lead assignment to agents.
- Lead scoring based on profile & behavior.
- Follow-up reminders and activity tracking.
- Centralized customer database with full profile.
- Policy details, status, and document repository.
- Lifecycle tracking: quote → policy → renewal → claim.
- Generate and send customizable insurance quotes.
- E-signature integration for proposals.
- Comparison engine for multiple plans.
- Agent onboarding, licensing, and performance tracking.
- Commission tracking (integrated with ERP).
- Lead sharing and collaborative tools.
- Omni-channel support (email, chat, call logs).
- Automated ticket assignment & SLA tracking.
- Policy-related queries, renewals, endorsements.
- Automated renewal alerts & notifications (SMS, email, WhatsApp).
- Cross-selling and up-selling prompts.
- Premium auto-debit or link reminders.
- Policy download, premium payments, renewal
- Claim status check
- Live Chat integration for quick queries
ERP Features (Back-Office)
Focus: Operations, Finance, HR, Compliance
- Underwriting workflow automation.
- Endorsement, cancellation, reinstatement processing.
- Policy version control.
- FNOL (First Notice of Loss) intake automation.
- Document upload, verification, and assessment.
- Workflow for TPA/external adjusters.
- Claim settlement processing.
- Premium collection tracking (linked to CRM).
- Agent commission payouts.
- Integration with payment gateways, banks.
- Financial reports (P&L, balance sheet, trial balance).
- GST, TDS compliance.
- Staff and agent records.
- Attendance, leave, and payroll.
- Commission-based salary structures.
- Recruitment and training management.
- IRDAI reporting formats.
- Document tracking & archival.
- Internal audit trails.
- KYC/AML automation.
- Third-party adjusters, doctors, garages, etc.
- Contract and payment management.
- Rating & feedback system.
- Capture leads from website, dealership, walk-ins, and events.
- Lead scoring and qualification.
- Follow-up scheduling and reminders.
Integrated CRM + ERP Features
Focus: Synchronization, Analytics, Automation
- Real-time KPIs: leads, policies sold, claims settled, revenue.
- Agent/broker performance.
- Customer satisfaction and churn rates.
- Risk profiling and fraud detection.
- Customer segmentation for marketing.
- Claims trend and predictive analytics.
- Revenue forecasting and planning.
- Triggers for notifications (e.g., quote → follow-up → conversion).
- Automated email/SMS based on status change.
- Escalation matrix for support and claims.
- Central storage with tagging, search, expiry alerts.
- Auto-generation of policy documents, receipts, and letters.
- APIs for third-party tools (TPA, payment gateways, SMS/email services).
- Integration with government portals (like IRDAI, CKYC).
- Booking confirmation alerts.
- Document uploads (ID, license, loan docs, insurance).
- Track status of RTO registration, insurance, and delivery.
- Live vehicle inventory (model, color, variant, status: in stock / in transit / sold).
- Stock aging reports.
- Pre-order or transfer requests.
- Sales performance reports (daily/monthly).
- Lead conversion rate.
- Agent-wise performance dashboard.
- Customer demographics.
- Invoicing (with GST compliance).
- Payment collection tracking.
- Expense management.
- Sales rep & technician attendance.
- Salary, payroll, commission distribution.
- Role-based access & team hierarchy.