The 7 Best Customer Management Programs for Insurance Brokers

1. Why do you as an insurance broker need a CRM tool?
2. What distinguishes a CRM for insurance brokers from a broker management program?
3. What special functions do customer management programs for insurance brokers have?
4. What are the advantages of paid versus free CRM tools for insurance brokers?
5. What do you need to pay attention to when choosing a tool?
6. The 7 best CRM software for insurance brokers on OMR Reviews
7. For insurance brokers, the use of broker software in combination with a CRM tool is indispensable in order to manage customer administration, commission accounting and other complex tasks. While a broker administration program is specifically tailored to the needs of financial service providers and insurance companies, a CRM offers a variety of functions to effectively manage customer relationships in the insurance industry. By using both tools, insurers and brokers can maintain a better overview and ensure long-term customer retention.

Where many customers gather, the business must be running well at first glance. Whoever loses track of it quickly has a problem. This often results in the loss of customers. The solution: a Customer Relationship Management (CRM). As an insurance broker, you benefit from this to the highest degree. We'll tell you why.

In addition, there are infos on how a CRM tool works in the insurance industry, what advantages it offers you in commission accounting and Co. offers and what you should pay attention to when looking for a tool. On top we recommend the 7 best CRM-softwares, which are suitable for insurance brokers.

Why do you as an insurance broker need a CRM tool?

In order to keep track of your customers, a customer management software makes sense. It catalogs your customers with all relevant information. Customer data or product inventories are infos that are traditionally associated with a CRM. But looking beyond the horizon, a customer management program can be fed with all kinds of personal information with which you can show your customers how important they are to you.

Especially as an insurance broker, this is important, as you usually accompany your customers over years and decades. At the end of the day, you are all just people who can't possibly remember information from 100 customers or more.

A CRM is a protocol of all life events of their customers for insurance brokers. Moreover, all data can be analyzed to identify insurance needs and start suitable marketing actions.

Customer management programs for insurance brokers have several identities in summary: database, product portfolio, protocol for important events of your customers, cross-selling platform, analysis software and marketing tool. Some functions are specifically designed for the insurance industry. Therefore, not all CRM systems are suitable, which you find for example on comparison platforms for software like OMR Reviews.

The question why you as an insurance broker need a CRM tool should therefore be answered by now.

What distinguishes a CRM for insurance brokers from a broker management program?

Customer management programs for insurance brokers are not to be equated with broker management programs. The latter software category is actually tailored exclusively to your specific needs and those of other broker professions.

Broker management software gives you access to insurers and offers extensive search functions to find the optimal insurance coverage for your customers. Unfortunately, these generalist tools are often for broker offices, not for solo fighters. In addition, their CRM functions are only one part of many, which is why they are not extensive enough. A CRM, on the other hand, cannot deal with commission payments. In short: A CRM stand-alone solution plus broker management tool is the perfect match for insurance brokers.

What special functions do customer management programs for insurance brokers have?

It is not without reason as an insurance broker to practice in Germany. After all, you have to comply with all kinds of regulations and not least always wait for a cancellation period for your commissions to make sure that you do not have to give back your sales. A challenge that many other self-employed people do not have.

Therefore, it is especially important for you to maintain a good relationship with your customers. They must always feel well advised, optimally insured and not have to retell their life story in every conversation with you. A customer database for insurance brokers should therefore have the following functions, so that you can do justice to your responsibility towards your customers:

• Contract management – An overview of existing and new contracts shows you the need for action in re-insuring.
• External communication – Mailing or speaking to your customers from the tool is efficient for you and service-oriented for your customers. Especially all conversations that have occurred outside the CRM system must be documented anyway.
• Digital signature – The CRM should make digital signatures possible to avoid anyone having to print and scan.
• Automation – To not have to work purely manually, make sure that certain processes can be automated by the customer management program.
• Offer management – So that what has been discussed in customer meetings can be quickly implemented
• Data protection – This is generally important. Considering the many customer data you collect in your CRM, it should meet all GDPR needs.
• Contact history – After 10 years being able to trace what you have discussed in that time, not only the state wants to know, but also helps you with a pleasant customer relationship.
• Analysis – All relevant numbers at a glance, help you for example to see what sales potential there is.
• Mobile access – Flexible access to all data, also on the go, is important in the fast digital world.
• Work together – And if you don't work alone, working together in the CRM should be possible.

A CRM is for insurance broker a crucial factor to support customers comprehensively and long-term.

What are the advantages of paid versus free CRM tools for insurance brokers?

Free is always nicer – after all, you as an insurance broker already have enough financial challenges. How good that there are tool providers that offer their CRM solutions free of charge; not just for testing. The disadvantage of free customer management for insurance brokers, however, quickly becomes apparent: They are only available for single licenses or small teams. As soon as it gets bigger, you are already in the paid segment.

The list of advantages of paid CRM software for insurance brokers, on the other hand, writes substantially longer. Starting with a larger number of customers that you can import into the CRM. Added to this is more storage space, better support from the development team and automation options, which are usually expensive to develop.

Before you decide what customer management program to buy, it is best to compare providers, features and prices on OMR Reviews. After all, everyone has different requirements and prerequisites!

What do you need to pay attention to when choosing a tool?

In general, you need to test the different CRM systems to your needs. This is the first thing you need to pay attention to when choosing a tool. In addition, it is important that the solution is GDPR compliant. Without privacy, nothing runs anymore in terms of customer data.

Also pay attention to compatibility and interfaces to other software. For example, document management tools like Caya are a nice support, automatically organizing incoming customer mail for you if the CRM can't. Likewise, interfaces to LinkedIn are nice to have. After all, the business platform has many potential customers.

Decent support from the tool provider should also be on your wish list. No scenario is worse than when the software doesn't work and you're powerless. Especially if you're in the middle of a customer conversation.

The 7 best CRM software for insurance brokers on OMR Reviews

Now that the main questions are settled, we'll show you the 7 best CRM software for insurance brokers. You can find all seven in detail on OMR Reviews. In the article we just give you a rough overview of what makes the tools special, what functions they have and in which price range they fall.

The following CRM software for insurance brokers have made it into the top list

Hubspot Sales Hub

Salesforce Sales Cloud

CentralStationCRM

Pipedrive

weclapp

TecArt CRM

Microsoft Dynamics 365 Sales

Attention: This ranking is based on the status as of March 1, 2024.

1. HubSpot CRM

HubSpot CRM on OMR Reviews

At first glance, the Hubspot Sales Hub seems to be more suitable for social media and online shop sales. But appearances are deceiving. If you look closer, you have the possibility to put together an optimal tool, in which CRM, sales and marketing harmonize perfectly. All that is missing is your broker software as a supplement and you have everything you need to reach new and existing customers as well as your sales goals.

HubSpot CRM functions

The following is waiting for you in HubSpot CRM:

• Contact management
• Contact history
• Pipeline and opportunity management
• Task management
• Desktop solution
• Contract and offer management
• E-mail marketing
• Lead management
• Marketing ROI Analytics
• Live Chat
• E-mail integration
• Customer Support via Mobile
• Linking with your social media appearances
• Integration of 500+ tools from the HubSpot app marketplace
• CRM app for Android and iOS

HubSpot CRM Pricing Plans

With HubSpot you have the advantage of putting together an individual package and only paying for that. You can decide how many user licenses you need, which functions are relevant and how many contacts should be archived. HubSpot CRM therefore starts at €41 per month in the cheapest tariff if you pay annually. For large enterprise solutions you have to pay at least €1104 per month.

HubSpot also offers a free CRM, the functions of which are useful for getting started.

More information about the prices of HubSpot CRM you will get on OMR Reviews.

HubSpot CRM Alternatives

If you are looking for a different combination of functions than the HubSpot CRM offers, you will find an overview of HubSpot alternatives on OMR Reviews.

2. Salesforce CRM

Salesforce CRM on OMR Reviews

As the obviously biggest competitor to SAP – the CRM master –, Salesforce has been established in the software world for many years. They therefore offer not only a comprehensive CRM, but also many other modules that can help you as an insurance broker in one way or another. If you decide for the Salesforce Sales Cloud see the provider as a holistic solution for your business needs. Customer database, sales, marketing, customer service and communication are at the top of Salesforce's list.

Small tip: Take a closer look at Salesforce's new real-time CRM "Genie".

Salesforce CRM functions

The following functions you can expect in the normal broker management program of Salesforce:

• Contact management
• Contact history
• Customer process management
• Automatic lead registration and scoring
• Pipeline and opportunity management
• E-mail integration
• Offer and order management
• Contract management
• Internal knowledge database
• Reportings & Forecasting
• API for linking external software
• 24/7 support

Do you want to know more about the services of Salesforce? All tools and helpful articles about the products you can find on our company overview page of Salesforce.

Salesforce CRM Pricing Plans

Famous name plus a big potpourri of functions usually result in a high price. However, it is always seen in relation: How much impact does it have for you to use Salesforce CRM?

Price-wise, Salesforce's customer management program lies between €25 and €300 per user and month. In the Unlimited version you get all functions that Salesforce offers. While the Essentials edition for €25 is just a common CRM, which will not be sufficient for the work of most insurance brokers.

More information about the prices of Salesforce CRM you will get on OMR Reviews.

Salesforce CRM Alternatives

If you are looking for a different combination of functions in a broker management program than Salesforce CRM offers, you will find an overview of the Salesforce alternatives on OMR Reviews.

3. CentralStationCRM

CentralStationCRM on OMR Reviews

Digital-afin or not, the ambitions of the CentralStationCRM aim completely at user-friendliness. Everyone in the team should understand and use the CRM immediately in order to work efficiently with it as quickly as possible. The Cologne developer behind CentralStationCRM focuses on freelancers, agencies and small businesses. In addition, the use of this customer management program for brokers has the advantage that your customer data is only stored in Germany.

CentralStationCRM Functions

The software has been around since 2010, which has accumulated some functions:

• Contact management
• Contact history
• Opportunity and pipeline management
• Activity management
• Offer and order management
• E-mail integration
• Call center function
• Forecasting
• E-mail marketing
• Lead management
• Document storage
• Mobile CRM access
• Android app
• Support via Mail, Skype and Tickets

CentralStationCRM Pricing Plans

CentralStationCRM is available in a total of five versions: Enterprise, Business, SmallOffice, Team and Starter. While the Enterprise as the most expensive package is available for €199 per month, the Starter Edition can be used for free. However, it is limited to 3 users and 200 contacts. Between the two packages, the price range is between €18 and €99 per month.

More information about the prices of CentralStationCRM you will get on OMR Reviews.

CentralStationCRM Alternatives

If you are looking for a different combination of functions than the CentralStationCRM offers, you will find an overview of the CentralStation alternatives on OMR Reviews.

4. Pipedrive

Pipedrive on OMR Reviews

Pipedrive was developed in 2010 by sales people. Therefore, it is precisely tailored to the needs of sales. In addition, Pipedrive stands out with the visualized pipelines that show in which status the cooperation with a customer is. The CRM software for insurance brokers is also compatible with many external software. What makes Pipedrive flexible for different application areas of brokers.

Pipedrive Functions

Overall, Pipedrive offers the following functions:

• Contact management & customer management
• Opportunity and pipeline management
• Activity management
• Quote and order management
• Desktop solution
• Quote and contract management
• AI support
• E-mail marketing
• Lead management
• Reporting
• Forecasting
• Integration of external tools
• Outstanding support from Microsoft
• Pipedrive Pricing Plans

You can test Pipedrive in four different sizes: Essential, Advanced, Professional and Enterprise. Price-wise, the Estonian SaaS starts at €12.50 per user and month. The most expensive version of Pipedrive is €99 – also per user and month. Before you decide, you can test the CRM tool for 30 days for free.

More information about the

prices of Pipedrive you will get on OMR Reviews.Pipedrive Alternatives

If you are looking for a different combination of functions than Pipedrive offers, you will find an

overview of Pipedrive Alternatives on OMR Reviews.5. weclapp

With weclapp, SMEs can control all important business processes together on one cloud ERP platform and benefit from time savings through automated workflows. Whether CRM,inventory management, project management or accounting software: weclapp offers smart solutions for the entire team and is exactly tailored to their needs. Since each team is individual, weclapp can also be flexibly adapted to the different requirements through a variety of extensions. weclapp is one of the most popular solutions in the market and has already been awarded as the "ERP System of the Year" 4 times.

weclapp auf OMR Reviews

weclapp Functions

Performance & Reliability in Customer Management and Commission Accounting

• Customization
• Dashboard
• API interface
• Payment Scheduling
• Payroll
• weclapp Pricing Plans

You can

test for 30 days free of charge. Afterwards, the prices result from the system components you have chosen. You can request these via the company website.
⁠For more info on the weclappprice plans of weclapp as well as user reviews with price reference, check out OMR Reviews.weclapp Alternatives

If you are looking for a different combination of functions than TecArt CRM offers, you will find an

overview of weclapp alternatives on OMR Reviews.6. TecArt CRM

TecArt Professional is a web-based CRM software, which is particularly suitable for SMEs. Due to the modular construction principle, the software can be adapted individually and integrated into every department.

TecArt CRM auf OMR Reviews

TecArt CRM Functions

Document management

• Integrated E-mail Client
• Tasks with automatic time tracking and clear Kanban
• Collaboration
• Data & Access security
• Chat function
• TecArt CRM Pricing Plans

You can

test for 30 days free of charge. Afterwards, the prices result from the system components you have chosen. You can request these via the company website.
Further info on the TecArt CRMpricing plans of TecArt CRM as well as user reviews with price reference, can be found on OMR Reviews.TecArt CRM Alternatives

If you are looking for a different combination of functions, as TecArt CRM offers, you will find an

overview of the TecArt CRM Alternatives on OMR Reviews.7. Microsoft Dynamics 365 Sales

The U.S. software giant Microsoft also doesn't miss an appearance in our list of the best customer management programs for insurance brokers. With

Microsoft Dynamics 365 Sales auf OMR Reviews

you can manage customer data, depict the lead generation and define all sales processes. In doing so, other Microsoft products can be easily integrated to handle email communication, for example, directly from the tool. A AI also supports you in working efficiently.Microsoft Dynamics 365 SalesMicrosoft Dynamics 365 Sales Functions

This is what Microsoft Dynamics 365 Sales has to offer:

Contact management & customer management

• Opportunity and pipeline management
• Activity management
• Offer management
• Desktop solution
• Offer and contract management
• AI support
• E-mail marketing
• Lead management
• Reporting
• Forecasting
• Integration of external tools
• Outstanding support from Microsoft
• Microsoft Dynamics 365 Sales Pricing Plans

Dynamics 365 Sales is available in three different variations and can be supplemented with the modules Relationship Sales (LinkedIn compatibility) and Viva Sales (auto capture data in the CRM). The Professional edition starts at €55 per user and month. Sales Enterprise is available for €80 and Sales Premium for €114 – also per user and month.

More information about the

prices of Microsoft Dynamics 365 Sales you will get on OMR Reviews.Microsoft Dynamics 365 Sales Alternatives

If you are looking for a different combination of functions than Microsoft Dynamics 365 Sales offers, you will find an

overview of Microsoft Dynamics Alternatives on OMR Reviews.Conclusion: This is how to find the right broker software

For insurance brokers, the use of broker software in combination with a CRM tool is indispensable in order to manage customer administration, commission accounting and other complex tasks. While a broker administration program is specifically tailored to the needs of financial service providers and insurance companies, a CRM offers a variety of functions to effectively manage customer relationships in the insurance industry. By using both tools, insurers and brokers can maintain a better overview and ensure long-term customer retention.

Für Versicherungsmakler ist der Einsatz einer Maklersoftware in Kombination mit einem CRM-Tool unerlässlich, um Kundenverwaltung, Provisionsabrechnungen und andere komplexe Aufgaben zu bewältigen. Während ein Maklerverwaltungsprogramm speziell auf die Bedürfnisse der Finanzdienstleister und Versicherungsunternehmen zugeschnitten ist, bietet ein CRM vielfältige Funktionen, um Kundenbeziehungen in der Versicherungsbranche effektiv zu managen. Durch die Nutzung beider Tools können Versicherer und Makler einen besseren Überblick behalten und eine langfristige Kundenbindung sicherstellen.