Salesforce Road to Insurance Omnichannel Platform

Salesforce, traditionally recognised as a Customer Relationship Management (CRM) solution, has witnessed a growing adoption within the insurance sector, emerging as a versatile and dynamic platform. In this article, we will explore the increasing reliance of insurance companies on Salesforce, with a particular focus on its role as an Omnichannel Insurance Solution.

Traditionally, insurance companies have relied on classical core systems to manage their operations. However, Salesforce has gained prominence as a modern alternative, offering a more sales-oriented approach. The Digital Insurance Platform (DIP) implemented by insurance companies utilising Salesforce CRM has become an attractive option, providing a cloud-native platform that supports omnichannel capabilities of insurers.

Key Functionalities of Salesforce

Salesforce offers a mature policy administration system that enables insurance companies to establish quote-to-bind insurance processes, manage policy lifecycles, and handle claims efficiently. The Digital Insurance Platform facilitates faster time-to-market, providing a flexible platform for digital product distribution and streamlined sales or claims processes.

Configurability and Integration – One of Salesforce’s strengths lies in its almost entirely configurable platform. This flexibility allows seamless integrations with third-party services, data analytics, and artificial intelligence. The platform is tailored to meet the needs of both customers and insurance professionals, supporting a quick time-to-market for new products.

Globally adopted  – Salesforce’s adoption is not confined to specific regions; it has been adopted worldwide in a variety of insurance regions. The platform empowers insurance companies to achieve a comprehensive 360-degree view of their clients, promoting a holistic approach to customer relationship management.

Challenges of Omnichannel Insurance Distribution 

Many insurance companies grapple with the complexities of establishing omnichannel distribution, both organisationally and technically. Providers often now feel that Salesforce addresses these challenges by supporting user-oriented business processes, optimising internal operations for employees and agents, and enhancing client onboarding and pipeline management.

Omnichannel Insurance Platform with Global Range

Salesforce’s adoption is not confined to specific regions; it has been adopted worldwide in a variety of insurance regions. The platform empowers insurance companies to achieve a comprehensive 360-degree view of their clients, promoting a holistic approach to customer relationship management.

Configurability and Integration

One of Salesforce’s strengths lies in its almost entirely configurable platform. This flexibility allows seamless integrations with third-party services, data analytics, and artificial intelligence. The platform is tailored to meet the needs of both customers and insurance professionals, supporting a quick time-to-market for new products.

Challenges and Considerations

While the benefits of leveraging Salesforce in the insurance sector are evident, challenges arise during the implementation phase. An essential consideration is the realistic evaluation of customisation needs. Insurance companies must carefully decide how they want to utilize the platform to maximize its potential. They are also well advised to rely on an integrator who has experience in the insurance industry. Most CRM integrators lack the industry-specific knowledge and expertise to seamlessly integrate DIP into the insurance workflow. In our experience, not all customer relationship management (CRM) integrators are able to effectively implement digital insurance platforms (DIP).

Salesforce has evolved beyond its traditional role as a CRM solution, positioning itself as a cornerstone in the digital transformation of the insurance industry. By embracing Salesforce as an Omnichannel Solution, insurance companies can not only overcome distribution challenges but also gain a competitive edge through enhanced customer experiences, streamlined processes, and quicker time-to-market for innovative products. However, a strategic and realistic approach to implementation is crucial to unlock the full potential of this dynamic platform.

Hubert Senén Młodzianowski – Head of Salesforce at Sollers Consulting

Tomasz Domagała – Senior Consultant at Sollers Consulting

Alexander Sieńczewski – Senior Consultant at Sollers Consulting