Industry Spotlight:

Insurance and Wealth Management

The Challenge

In an increasingly digital age, insurance agencies big and small are facing new challenges that impact how they serve and engage with both current and new customers. In 2020, the onset of the COVID-19 Pandemic has further highlighted the need to find new ways of doing business. Over the past several years, Logan Consulting has observed common challenges in the following areas:

  • New digital players — Independent agencies are losing ground to new players entering the market across all segments on completely digital platforms.
  • Consolidation – Mergers and acquisitions have created issues regarding consolidation.
  • Cybersecurity – The digitization of the insurance industry has resulted in cybersecurity threats and concerns.
  • Customer acquisition and retention — The COVID-19 pandemic has increased the demand for new technology to provide a high level of customer service and personal contact to better serve existing and new customers.
  • Agency management software — Outdated and inflexible agency management software stands in the way of adapting to new digital challenges.

The Solution

The digital world is here to stay, no matter the industry. Logan Consulting has helped many insurance agencies move toward a more digitized platform. Building your organization’s digital capability drives its resilience, increases its adaptability to new challenges, and allows for continued growth.

Our clients have optimized their businesses by implementing modern features such as the following:

  • Personalized Policy Holder experiences – With personalized experiences, companies can better meet customers’ expectations of on-demand services.
  • Increased customer engagement – Efficient and timely customer service and engagement will exceed customers’ expectations and minimize churn in the highly competitive insurance industry.
  • Instant Access to Customer and Policy information – A 360-degree view of your customers on a tightly integrated and flexible platform will help your organization adapt to the industry’s evolving needs.
  • Digital access to a modern platform — Mobile access allows agents to be more informed and responsive to customer engagement.

Case Study: Midwestern insurance agency

Midwestern insurance agency

The client hoped to recreate the basic process flows and maintenance of the commissions process within the current Dynamics 365 application, as well as improve existing processes and procedures while improve variance reporting. After a detailed analysis of the current off-system process, Logan Consulting designed a solution that catered to the agency’s needs.

Case Study: Third-party administrator of health insurance claims

TPA of health insurance claims

An insurance company was looking to improve claim processing and increase revenue. Based on the client’s requirements and needs, Logan Consulting designed and customized a CRM platform that was able to significantly generate more revenue and increase claim processing volumes, which proved to be especially important during the COVID-19 pandemic.

Using Microsoft Dynamics CE (CRM) for Insurance Agency Management

Over the years, Logan Consulting has worked with many insurance agencies and related businesses to convert from an outdated “Agency Management” software to Microsoft Customer Engagement. Today, we have several clients who run their entire business using a Microsoft CRM system customized to their exact needs with flexibility to handle new growth opportunities and industry changes.

Read our blog post to learn how you can benefit from using Microsoft Dynamics CE (formerly CRM) to manage your insurance agency.

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How Microsoft Outlook and D365 CE (CRM) Can Improve Customer Interactions in the Insurance Industry

In the current Insurance Industry, interacting with prospects and clients quickly and efficiently is the key to building a successful business while minimizing churn.

Insurance agencies can use Microsoft Dynamics 365 for Outlook to track email messages, contacts, tasks, and appointments. Read our blog post to learn how you can use D365 for Outlook and D365 Customer Engagement to better connect with customers!

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How to Track Insurance Agent Licenses and Skill Levels with Microsoft D365 CRM

Keeping track of these licenses is a common function of agency management, particularly if an agency is operating across various states or in states with multiple licensing. At Logan Consulting, we have ample experience in configuring and customizing Microsoft Dynamics 365 CE (CRM) to include effective Licensing requirement handling.

Find out how Microsoft Dynamics CRM can help your insurance agency optimize its operations by tracking agent licenses and skill levels.

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