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Why Insurance should take back control of the ‘funnel’ with a Lead Management Solution

While every organization manages their ‘sales funnel’ differently, they must all address the arduous task of handling leads competently. In the Insurance business, generating quality leads is proving to be a tough assignment for older agents, as their collective numbers dwindle down —  as more business is being transacted online, creating a complex web of lead data to consolidate, than ever before.

For an insurer or broker, unearthing excellent leads is only half the battle won — converting the semi-interested, prospective buyer to ‘loyal avengers’ of your brand is the true test. Without an adequate analysis of the lead data, insurance firms are more likely to let valuable customers slip through unnoticed. Infact, 80% of marketing leads are either lost or discarded because of poor lead management; while 80% of leads passed onto the sales agents are unqualified — according to research on lead management, surveyed among B2B organizations in 2019.

Documenting a prospect’s complete story of interactions & experiences with your organization, delivers timely insights into exactly how and when a prospect was converted from an ordinary ‘lead’ to a ‘customer’. Most of the sales follow-up process including managing leads, prospecting new business and dispatching service to existing clients — is time consuming and for the most part, manually done. On the other hand, outside competition via other brokers and organizations offering closely matched services and products are most likely to capitalize on the mistakes you have failed to identify early —  which brings us to — What is it about your business that will capture a prospect’s attention long enough to close a sale, build quality relationships, and encourage referrals? For an effort of this magnitude, the journey begins with a strong lead management framework.

The transition for qualified ‘leads’ as it evolves through the organization’s marketing and sales pipeline, eventually passes through several phases or ‘lead stages’.

Lead Management Accelerator Framework

Here’s why Insurance needs an Accelerated Solution

Lead Prioritization

  1. Clustering of leads based on assorted attributes —  profile, source, income, demographics etc.
  2. More targeted and focused approach on managing prospects.
  3. Helps improve the quality of leads to the caller/sales team.

Lead Allocation

  1. Profile analysis of callers to identify their strengths and allocate leads accordingly.
  2. Enhanced and optimized Lead Conversion thereby creating profitability.

Lead Disposition

  1. For time effectiveness quick, detailed & one-stop disposition.
  2. Seamless integration with insurance core platform allows quick access of quotes and payment service.
  3. Allow effective communication by means of various integrations like e-mail, SMS, dialers etc.  
  4. Various features like document repository, call scheduling, lead journey chart helps callers handle lead dispositions aptly.

The implementation of a strong framework makes a dedicated LMS solution for the insurance industry not only desirable, but strategically important for the industry.

From creating qualified opportunities and ultimately satisfied customers — Lead management is the backbone of a successful sales operation. The sales process should integrate with lead management seamlessly, which is why an automated LMS with customizable workflows harnessing Artificial Intelligence/Machine Learning is a complete solution. By automating the sales process we can ensure calls, demos, follow ups and meetings — even potential revenue — isn’t slipping through the sales pipeline undetected.

To know more about how Insurers can create workflow specific LMS solutions, get in touch with us — hello@mantralabsglobal.com


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What If the Sun Took a Day Off?

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Ever wondered what life would be like if the Sun took a day off? Picture waking up to an Earth shrouded in darkness, where temperatures drop dramatically within hours, plunging the planet into an icy chill. Plants, deprived of sunlight, would halt photosynthesis, leading to a food production crisis. Our reliance on renewable energy would face a sudden halt, causing widespread blackouts and chaos in cities across the globe.

A day without the Sun would throw our world into chaos! Luckily, that’s never going to happen (at least in our lifetime!). But this thought experiment underscores the Sun’s critical role in our lives and highlights why harnessing solar energy is so vital. While we’re increasingly turning to solar power, we are still missing out on capturing a massive amount of solar energy that falls on Earth every single day.

How Much Solar Energy Are We Missing Out On?

Every day, the Earth receives about 173,000 terawatts of solar energy from the Sun—more than 10,000 times the world’s total daily energy consumption. Despite this abundance, we only capture a tiny fraction of this energy. In 2023, solar energy accounted for just 4.5% of global electricity generation—a huge opportunity waiting to be tapped.

If we could capture just a small percentage of the Sun’s energy, we could power the entire world many times over. The total solar energy that hits the Earth in just one hour could meet the world’s energy needs for a full year. Yet, due to limitations in solar panel deployment, technology efficiency, and energy storage, the vast majority of solar energy goes unused each day.

As we improve solar technology and infrastructure, capturing more of this energy becomes not just a possibility but a necessity for a sustainable future. Let’s dive into how cutting-edge technology is making solar energy more accessible and efficient, helping to turn this untapped potential into real, usable power.

How Tech Makes Solar Adoption Easier

Customer-centric technology is revolutionizing the way we adopt solar energy. Imagine an app that allows you to simply point your smartphone at your house to estimate how many solar panels you need, their ideal placement, and the energy they can generate.

Here are the key benefits of this innovative approach:

  • Precision: By capturing images of your property through satellite, the app calculates the optimal placement of solar panels for maximum energy production. Studies have shown that precise placement can increase efficiency by up to 20%.
  • Customer Engagement: Users receive real-time insights into their energy production, helping them understand their solar power system better, whether they’re using Tesla solar panels, solar power generators, or even solar attic fans to optimize home energy usage
  • Seamless Experience: With user-friendly interfaces, consumers can easily monitor their solar systems remotely and receive updates on their energy output. This accessibility is crucial for encouraging the wider adoption of solar technologies.

The Tech-Driven Shift Toward Sustainability

As solar technology evolves, so do the solar panels themselves. Innovations like Tesla solar roof systems, flexible solar plates, and bifacial panels are redefining what’s possible in renewable energy. Even smaller systems—such as portable solar generators and solar air conditioners—empower homeowners to harness solar power efficiently.

Photovoltaic (PV)  panels, the cornerstone of solar energy, have seen incredible advancements, now boasting efficiencies of up to 22%. This means fewer panels are needed to produce more energy, making solar energy more effective for a wide range of applications, from solar shingles to off-grid systems.

Moreover, the push towards cradle-to-cradle sustainability is reshaping the industry. New solar panels are being designed with recyclability in mind, reducing their environmental footprint. Innovations in recycling technology now recover up to 95% of materials from end-of-life panels, ensuring that even the oldest solar systems contribute to a greener future.

While solar technology continues to advance, solar panels themselves are becoming more efficient and environmentally sustainable. Innovations such as systems, flexible solar plates, and bifacial solar panels are pushing the boundaries of what’s possible in renewable energy. Even smaller systems like portable solar generators and solar air conditioners are empowering homeowners to tap into the power of the Sun efficiently and sustainably.  Photovoltaic (PV) panels, the cornerstone of solar energy – now boast efficiencies of up to 22%​. This means a smaller array of solar panels for home or commercial use can generate more electricity. This makes solar energy systems more appealing and effective for various applications, from solar roof shingles to off-grid solar systems.

Moreover, the move toward cradle-to-cradle sustainability—where solar panels are built from materials that can be easily recycled—has gained traction. This reduces the environmental footprint even further. Innovations in recycling can recover up to 95% of materials from end-of-life panels, According to PV Cycle​, with room for improvement in recycling.

Making Solar Affordable and Accessible

Historically, one of the biggest barriers to solar adoption has been the cost. But things are changing fast. Innovations in financing models, such as Power Purchase Agreements (PPAs) and solar loans, have significantly reduced the financial burden of installing solar systems. According to the Solar Energy Industries Association (SEIA), the average cost of solar installation has dropped by over 70% in the last decade.

Couple that with federal and state incentives like the Investment Tax Credit (ITC), which provides a 30% tax credit on solar installations, and solar energy is more affordable than ever. Net metering programs, which allow homeowners to sell excess energy back to the grid, further enhance savings, making solar not only accessible but also financially rewarding.

Conclusion

The future of solar energy goes far beyond rooftop panels—it’s about making the entire solar experience intuitive, accessible, and sustainable. With smart apps and tech-driven tools, consumers can now manage their solar energy systems with just a few taps on their phones, making the shift to green energy simpler and more engaging.

At Mantra Labs, we’re at the forefront of this solar revolution. We’ve helped some of the world’s largest solar providers develop cutting-edge, customer-friendly solutions. Our mobile apps allow users to estimate solar panel needs, monitor system performance, and even track their environmental impact—all from the convenience of their smartphone.

Together, with innovative tech and a commitment to sustainability, we’re building a future where solar energy isn’t just an option—it’s the smarter, more accessible, and greener solution for everyone.

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