* Guest Article
The Vital Insurance CRM is developed for the Wholesale or Retail Insurance Agency operation. It provides a complete system for the Insurance Agency to operate in a team environment, and to transact and manage its business.
The system is designed around a number of related modules that cover processes from Lead development, through Quoting, and into ongoing Policy management and renewal. These modules allow the team to work together to collect necessary data about an Account and its Exposures so that they can develop Coverage options. Then it allows the team to submit Request for Bids from Vendors to collect insurance pricing and terms. The Bids are assembled into Quotes for a Coverage which are presented to the Account for selection. Once the Account selects the Coverage, a Sales Order is generated for Policy processing. Upon Policy generation an Invoice is delivered to the Account. This manages the Funds and document signature process needed to complete the Binding Requirements.
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|Lead||Details about a potential Account, Contact and Policy. The Lead module controls the information and process of developing new accounts.|
|Account||A Company or a Household which may purchase or currently owns a Policy that you would like to track.|
|Contact||People that are a part of an Account and are named in a Policy, or are a key part of thePolicy purchase decision process.|
|Exposure||The description of the item requiring Coverage (i.e. Location, Vehicle, or type ofBusiness)|
|Coverage||A package of Limits quoted to indemnify a the kind Exposure.|
|Policy||The package of Coverages owned by an Account.|
|RFB (Request for Bid)||A package of Coverages submitted to a Vendor to Bid.|
|Bid||Pricing and Terms provided by a Vendor, in response to an RFB, for a definedCoverage.|
|Quote||A list of potential Coverages with Bids that an Account may select to be included in aPolicy.|
|Sales Order||A list of Coverages selected for processing into a Policy.|
|Invoice||A list of Funds and Coverage Binding Requirements needed to complete the Policycontract.|
|Dashboard||A pictorial representation of your custom report data, which gives a real-time snapshot of your organization's key metrics.|
|Report||Presentation of data or records for various modules as per requirement.|
|Forecast||An estimate of future business closure and revenue based upon up to the minute activity with the Agency.|
|Calendar||A list or register of events to track the daily activities pertaining to different modules within business operations|
|Activities (Task)||A piece of work required to be done within a specific time frame.|
|Activities (Event)||Any activity that happens at a specified time and place.|
|Vendor||The companies your Agency submits RFBs to in order to receive Bids for Coverage.|
|Campaign||A marketing process which is planned, executed, distributed and analyzed.|