CRM for Banking and Insurance

Benefits of choosing a Field Force CRM for banking insurance company over a traditional CRM

What is Field Force CRM for Banking Insurance?

 Unlike a conventional CRM(Customer Relationship Management) used by corporate teams, what we are calling “Field Force CRM for Banking Insurance” is uniquely designed for field sales. Field Sales means territorial teams, agents working in the field, constantly on-the-move visiting one customer after another. Executing transactions in real-time such as collecting documents, payments and more, unlike post-facto CRM data entry. Field Sales also involves handling direct and indirect channels that include interaction with partners as well not just prospects or customers.

Besides with distributed field teams, technology has a whole new dimension of opportunity to address. Unsupervised distributed teams are 10x more effective if they were to get timely exception alerts and predictive cues. It helps them maximize outcomes from every hour they spent in the field and every interaction with customers. 



What will a Field Force CRM for banking insurance company cover for you- 

It generally ensures the lead is not stuck with the wrong person for a long period

  • First of all, it should provide API to let you integrate it with your lead or customer aggregation system.
  • If your CRM intelligently assigns incoming leads to a sales agent without losing time your first meeting hit ratios will go up significantly 
  • It should provide a mechanism for the agent to drop a lead your territory managers can reassign to the right agent to reduce idle leads and increase conversion
  • Agent app should intelligently notify your sales reps and immediate managers about the situation of a lead being idle so that you can take corrective action


Your agent app should map and GPS-tag the activities of your field sales team ensuring higher productivity of the sales reps 

  • You should be able to mark all the field visits and activities of your sales reps with the geo-location while being viewable on the map. This will ensure field teams are actually meeting prospects
  • The CRM for Banking Insurance should have the capability to provide smart alerts to sales reps located nearby to new prospects.


Your tool should let your sales team know your customers better by connecting to other customer databases 

  • Your lead management database may not have complete details of the prospects. It might be missing out on an email ID or background of the customer credit history. The field CRM app you choose to connect the database with other external databases to clear out the blank spots. 
  • These external databases also provide data on the social activities of the customer. This will help to build a rapport with the customer to convert them into successful leads.
  • An additional benefit of seamless integration with Credit Score API in your Agent App will help in better scoring details.


Your CRM for Banking Insurance should complete KYC documentation in a quicker manner while being fraud-resistant

  • The CRM tool should allow your sales reps to scan and upload to the database the required documents like an ID card and address proof. This will make the process faster.
  • All the private details and docs of your customer should undergo top-notch encryption and should not be accessible by even the technical team
  • Having smart tools like OCR and auto-validation of ID numbers ensures completion of the process on the spot. Moreover, matching the customer’s live picture with that of the ID picture will also help to avoid any fraud.
  • Once the field agent uploads the live picture of the customer on the acquisition forms on the Agent app it should automatically get GPS-tagged to reconfirm the location of the customer.


Protect your customer’s details and documents to avoid any kind of liability

  • Having an encryption system in your chosen agent app will successfully hide imperative customer data while storing them. It should also be present at the point of transfer of data from the app to the database.  
  • When displaying data of the customer like ID card details and mobile numbers etc, masking it, to avoid any security breach, is an imperative part of any CRM in BFSI industries.
  • Cloud telephony technology in your app, that allows for call masking is the best way for businesses to safeguard their customers’ identity, and prevent misuse of sensitive information, enabled by anonymization of customer’s phone number. This solution allows you to connect two parties without revealing either party’s phone number. 

Should inspire and augment the Field Force to constantly raise the productivity levels

  • ScoreCard as a part of your CRM in banking and financial services industry will ensure your field agents are aware of their target v/s actual position all the time
  • Intelligent Gamification with pier benchmarking not only drives teams to meet the target but collectively raise the performance level of the entire team. It will boost the morale of sales reps who win rewards and encourage others to perform better to reach the top
  • Should use all the computing power available in this age to cue the managers and reps about something that has gone wrong or about to go wrong and suggest the next steps




Traditional CRMs are neither designed for high-velocity field operations nor are designed for daily operations of a distributed field team. Just imagining a mobile extension of a traditional CRM to a mobile device is not sufficient for running high-velocity field sales in Banking, Insurance and Financial Services industry. Neither just focusing on a lead management workflow automation justifies the investment in technology in this age of artificial intelligence. Carefully deployed intelligence, in-field robustness, contextualization for field sales nuances and above all an easy-to-use Agent App can do wonders to your business growth.

At BeatRoute we have dedicated ourselves to making field agents of Banking, Insurance and Financial Services industry happy and successful. Do check out our approach at  or request a demo by clicking here.

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