Insurance And Securities Agency Streamlines Processes And Data Integration Using Microsoft Dynamics CRM Software

For 45 years, Akron, Ohio-based ValMark Securities, a leading insurance brokerage agency and securities broker dealer, has provided sales, underwriting and administrative support to its network of over 300 wealth managers and insurance agents. ValMark maintains a targeted member broker and agent network that relies on ValMark's expertise in preparing investment and insurance packages for high-net worth individuals. These insurance packages are typically valued at three times the national average for insurance sales. In the spring of 2007, ValMark identified the need to update its business processes and began the search for software solutions that could address its demands to track workflows and manage complex business relationships with multiple insurance companies, financial institutions and investment firms.

Managing complex interactions between partners and its member sales network was one of the core business issues for ValMark Securities. On the insurance side of the business for example, member insurance agents may submit sales opportunities to ValMark for customized recommendations on financial products from a partner database of 35 insurance carriers. Each sales opportunity for these clients is unique. High-net worth clients typically purchase multiple securities and insurance products through the member agent. Product recommendations are based on many client criteria using data obtained during the underwriting process. ValMark needed a system to track each insurance case from the preliminary stages until the final decision or sale is closed.