???? Enhancing Insurance Account Management with Salesforce Reports and Dashboards ??

Dashboards offer a visual representation of your data, presenting it in a way that's not only insightful but also actionable. With customizable charts, graphs, and metrics, Dashboards provide a bird's-eye view of your insurance operations, allowing you to spot trends, identify outliers, and stay ahead of the curve.

But wait, it can offer much more than that.

As insurance Account Managers, we deal with lots of things like renewals, cancellations, and other tasks. Sometimes, it's hard to find policies that need attention among all these tasks.

While reports give you the ability to magnify and find these policies, still we would have to rely on multiple reports. To find these opportunities and keep track of you progress as an Account Manager is tough. This is where Salesforce Dashboard comes in, it will not only help you look at the bigger picture of what needs to be done but can act as a workspace in:

1. Locating policies that need servicing
2. Work ahead of time with policies that are upcoming servicing
3. Keeping track of monthly/weekly servicing and premium goals
4. Identifying potential errors and business as risk

?? Renewals Tracker: Having a one-stop dashboard showcasing upcoming policy renewals, complete with crucial metrics like policy expiration dates, policy types, and premium amounts. With this insight, prioritizing follow-ups becomes a breeze, ensuring no renewal opportunity slips through the cracks.

• A gauge chart that will keep track of your renewals against what's pending renewals. This can also be called Renewal Percentage %.

• A bar chart can be implemented to see the renewal number over a period of time.

?? Cancellation Tracker: AMs need to identify and save policies on the brink of cancellation. With a Cancellation Report, we can visualize reasons for cancellation, policy details, and client contacts. With this data, we can proactively address cancellations, understand the underlying reasons, and take swift action to retain clients.

• A table showing the number of cancellations with the reason for cancellations helps Account Managers to promptly take action on these policies and retain them.

?? Remarket Analysis: Placing the right customer with the right carrier is a must in this business. A dedicated Remarket Analysis chart empowers us to identify policies ripe for remarketing based on expiration dates, success rates, and potential premium increases. This targeted approach ensures our remarketing efforts are strategic and impactful.

As premiums continue to rise, it's crucial to identify and optimize policies based on the potential risk associated with each customer. This entails selecting the appropriate carriers, coverages, and deductibles. The bar chart provided by Hippo, illustrates annual premium increases for homeowners insurance, highlighting the frequency of rate changes in the market. While these increases may be widespread, they underscore the challenges insurance account managers face when dealing with remarkets.

Pending Cancellations Tracker: A comprehensive tracker that allows us to monitor policies with pending cancellation requests, providing real-time updates and escalation paths. This means we can address pending cancellations promptly, resolve issues, and prevent policy lapses.

This way we establish a centralized hub for Insurance Account Managers, offering them a cohesive platform to assess their workload, pinpoint impending policy service requirements, and effectively monitor the status of all serviced policies compared to pending ones. By consolidating these functionalities into a single workspace, managers can streamline their workflows, enhance productivity, and ensure seamless management of insurance policies from initiation to servicing completion.