The digital age has transformed a big part of how we live our lives. From communicating with friends to doing our weekly grocery shopping. There’s no longer a need to wait in line for movie tickets or at the bank for a simple transaction. Malaysia is not left behind in this revolution. In fact, we are very much ahead. According to Internet World Stats, over 68% of Malaysians are connected to the internet as compared to 50% world average.

Keep up or risk being left behind

Those who relied on taxi services not too long ago probably still remember the inconvenience of having to order a taxi through the central customer service or to hail one down from road side. This has changed drastically for the better since the arrival of e-hailing services such as Uber and GrabCar. Now booking a ride is never easier. This is now done via an app and within minutes, your car is right outside your doorstep.


customer management systems

Uber and Grab had taught us that those who don’t keep up with the changing technology loses out.


Insurance industry is changing

Insurance industry everywhere is facing the same transformation due to the digital revolution. These disruptions will force everyone, from insurance providers to individual professionals to be more innovative. Malaysia is seeing these changes too. Motor detariffication as well as the changes in the Life Insurance Framework are slowly disrupting the Malaysian insurance market.

While billion-dollar corporations develop their own inventive applications to drive growth and diversifying delivery channels, individual insurance agents on the other hand, do not have the resources to develop their own IT solution. However there really isn’t a need to as agents can make use of the vast choices of independent applications in the market. The purpose of these apps? To improve the efficiency of their work in order to better serve their customers.


How insurance agents use Customer Management Systems to improve efficiency and drive sales

In a recent report from the Database Marketing Institute, the customer–agent relationship was the determining factor in whether or not a shopper left a current insurance agent.

Customer Management System (CMS) also known as Customer Relationship Management System (CRM), is a software developed to allow sales people to manage the relationship with their customers as well as a tool to help improve efficiency and productivity.


The digital age is transforming the way insurance agents manage their customers and grow their businesses.


CMS benefits insurance agents in several ways:

1. Customer data storage and document management

CMS allows agents to store important customer data and contact information in a secured and safe location. With access protection and automatic back-ups, data is safe against unforeseen events. CMS enables agents to upload documents to each customer’s profile. Copy of policies or policyholders portfolio are stored in the form of scanned images (example jpeg and pdf).

Agents are able to access customer information and policy details anytime anywhere. At the request of a customer, they no longer need to flip through physical documents or boot up their notebook to search for the right Excel file for policy information. Using the system from an independent provider and not from an insurance company allows agents to store and manage the information for all customers in one system.


2. Lead management

Lead management is the ability for a CMS to track the status and quality of each lead to help agents strategize their move and prioritize follow-ups. Knowing where a prospect is in the sales pipeline helps agents to better organize and plan. Important leads are not lost due to misplaced contact information or forgotten follow-ups. This makes it easy for agents to efficiently manage their time and increase sales.


3. Interaction journal

Agents can use CMS to record all interactions. From noting upcoming appointments to chronicling activities and meetings had with each customer and prospect. Agents will no longer overlook important detail or customer requests. The ability to track interaction history – including queries, quotation requests and potential sales, allows agents to manage each customer and prospect easily and respond to them in a timely manner.


4. Notification management

CMS with notification function allow easy messaging to prospects and customers. This eliminates the time consuming traditional method of texting or emailing individual customer manually. Automate notifications to customers. Such as new product launch, birthday wishes, policy status updates and most importantly – expiration reminders. This can drive better relationships with customers and improve productivity.


5. CMS mobile integration

No doubt mobile phones have changed the way we order our taxi as well as the way we carry out our businesses. In order to be efficient in this ever competitive insurance industry, agents need to be able to access and update information in real-time. This puts the agent ahead of his competition as he is able to serve his customers better than others. Advanced CMS systems offer mobile apps for agents and customers to access their functions while on the move. On the way to meet with a customer? No problem. Agents can now take a quick look at the customer’s information on the app while on their way there.


Have your own CMS and start growing your insurance business

In conclusion, Customer Management Systems provide agents with the above key functions to ease management and improve interaction with their customers. Face to face meetings with clients are still important and will be the key strength of insurance agents. But technology is advancing and a good CMS system helps agents to upgrade their face to face meetings with the benefit of internet and technology.

iBanding is launching its own CMS system soon so you too can have access to a tool built for insurance agents to help manage your business. Stay ahead of your competitors. To get an early access to Malaysia’s first CMS for insurance professionals, please drop your email address in the box below and click on “send”. Then check your mailbox for confirmation.





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