Automated insurance proposal process and stage-based tracking in Zoho CRM
Process
Safia is a sales agent at Zylker Health Insurance, an insurance company that caters to both individuals and businesses. "Interested clients usually send us an email or submit a request on our website, or call us directly on our customer care helpline," said Safia.
"We ask questions to understand the client's requirements fully. We then draw up a comprehensive health insurance plan suited to their needs and coverage level, according to Zylker's available policies," Safia said.
"First, we send the client's proposal form and plan details to our managers for internal review. As soon as our manager approves the plan, we email the client their policy, along with a payment link. Once the client completes their first payment, we add them to our database as a new policyholder," She explains.
Requirements
"Many proposal forms are filled out by our potential clients and agents daily. The sheer volume makes it difficult for us to monitor their stages, from when the agents submit a new proposal to when the client becomes a policyholder," said Emma, one of Zylker's sales managers. "Also, since the proposal process is quite repetitive, it makes up a sizeable chunk of administrative work for our sales agents," she adds.
The following are Zylker's primary requirements:
1. A customized pipeline in Zoho CRM that allows their sales managers to track proposals stage by stage.
2. A streamlined and automated proposal process that cuts down monotonous tasks for their sales agents.
Solution
Features in use
From the steps that Safia described, Zylker's insurance proposal process was divided into five stages: Proposal submitted >> Proposal reviewed >> Payment link sent >> Payment received >> Policy created
To capture this, we customized the deals module in Zylker's Zoho CRM account to reflect these pipeline stages.
We edited the fields in this module to capture all mandatory client details the agents need to fill out, in order to submit the proposal form for review.
For the ease of reference and data entry, we grouped these fields into sections.
We included a section called "Documents for Verification", so that the agents could upload files like the client's proof of identity and proof of residence.
Lastly, we added a Subform for recording and displaying nominee details, if any.
Here's how it works:
The insurance agent creates a new "Proposal" record in Zoho CRM by filling out all the mandatory fields and uploading the documents needed. When the agent saves it, the record moves to the "Proposal submitted" stage.
During this stage, the record is auto-assigned to the sales manager, who gets a notification and an email asking them to review its details for further process.
Once the manager has gone through the client details and the plan proposed, they can either accept or reject it. If the proposal gets rejected, the record displays the reason for rejection. When the proposal is approved, the record moves to the "Proposal reviewed" stage.
When a record moves to this stage, an email containing the policy details and a payment link is automatically sent to the client, and the record then moves to the "Payment link sent" stage.
Once the client completes the transaction through the payment link, the stage changes to "Payment received" and the client's details are pushed as a new record in Zylker's "Policyholder" database.
Result
By executing its insurance proposal process within Zoho CRM, Zylker now has stage-wise transparency. Since each record moves along a pipeline, it enables them to track proposals, address and minimize delays, and remove inconsistencies.
By automating actions like sending emails, Zylker has managed to streamline its proposal process, cutting down on repetitive manual tasks that their sales agents previously had to do.
The custom module enables Zylker to capture and analyze contextual data, which is vital for them to better understand their clients.
"Please note that the solution described here is developed for a real use case of a Zoho customer. All names, identifying details, and screenshots have been anonymized to retain privacy."
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