There are several reasons your existing customers are your business’ most valuable asset.
Increased profits from sales
Increased profits from reduced operating costs
Increased profits from referrals
Not only is it 3-5 times cheaper to keep a customer than to engage a new one, but studies show that repeat customers pay more for purchases and purchase more often. Satisfied customers also help your business to grow through referrals to friends and family. Continue reading →
The uptake of CRM software is growing at a steady rate of approximately 13% each year over the last few years according to reports from Gartner (2014; 2015). And with good reason – CRM software enables companies to grow loyal relationships with their customers by allowing a better understanding, segmentation and tiering of their customer base, improved targeting of promotions and cross selling, and the implementation of alerts that signal a customer is about to depart. CRMs are a complex software that can deliver what many refer to as a ‘360 degree view’ of their customers. Continue reading →
For this month’s post we have taken a slightly different perspective. After an underwhelming firsthand experience with an insurance company that appeared to have missed the bigger picture, we decided that this edition we’d look at how not to implement digital technology. Continue reading →
Broking Systems are not developed overnight, they evolve.
Ebix Australia doesn’t release a completely new broking system very often, so it was essential that we celebrate another milestone in the history of Ebix – the launch of Ebix Evolution.
Ebix Evolution is the first native cloud broking system from us, so it isn’t just another broking system released, it is the broking system that will change the technology behind the insurance broking industry. Naturally, our presenters Leon d’Apice and Suzanne Connors, were excited to demonstrate it for our audience. Continue reading →
There’s no denying that the insurance industry is a highly competitive market. With more outsider businesses, such as banks and supermarkets, offering insurance products, the competitiveness of the insurance market is only looking to increase. How are SME insurance businesses, such as brokers, able to compete with the giants?
Now that 2016 is well and truly upon us, we can reflect on the year that was 2015. Looking back, it was another big year for technology. We saw the introduction of the driverless car, the Apple Watch, and motorised skateboards; as well as some not so great technological accomplishments, such as the Ashley Madison hack, Lenovo machines shipped with pre-installed adware, and the VW scandal. If the 2016 predictions circulating the internet are anything to go by, the technology evolution is showing no signs of slowing down any time soon.
The technology evolution is not only changing the consumer world as we know it, but the business world too, with more and more companies implementing digital strategies and introducing new technologies to their processes and customer experiences. While it can sometimes feel that technology is evolving at such as a pace it is impossible to keep up, there are a few simple ways for your business to reap the benefits of the digital age. Continue reading →
Gradually more and more businesses all over the world are moving their software suite into the cloud. So what is so good about the cloud that is getting them to make this shift? There are a lot of reasons for choosing the cloud over on-premise systems. These are the top reasons why cloud based CRMs are gaining significant popularity: Continue reading →
The information age is truly upon us. While it can sometimes feel like information overload, having the tools to collect client data and extract meaningful, intelligent information can be what gives your business the edge over other insurance professionals.
Most CRMs on the market have a wide range of data-capturing tools and enormous reporting capabilities. However, deciphering whether they report on information that is important to your business can be challenging. Continue reading →
If all your leads were high quality leads, what would that mean to your business? It could mean obtaining a deeper knowledge of who your target market is and where they are. It could mean a clearer picture of the buyer’s journey and identifying more opportunities to act upon. Essentially, it could mean more sales and more referrals. Continue reading →
Put simply, the best CRM software has the ability to deliver a 360 degree view of your clients and contacts. For this reason a CRM should have sophisticated Contact Management at its core functionality.
Efficient Contact Management allows your brokers to have a complete picture of your clients, giving them the ability to go beyond clients’ expectations and develop strong and trusted relationships. The Contact Management component of a CRM can also bring focus and clarity to your organisation, while improving workplace efficiency and productivity. Overall your clients will be happier, ultimately leading to business growth.
Here are the top 5 things we think makes up a well-formed Contact Management function for insurance professionals: Continue reading →