Salesforce intros new capabilities in Financial Services Cloud

The latest cloud updates aim to help insurance companies better execute digital strategies and retain top talent.
Written by Natalie Gagliordi, Contributor

Salesforce on Tuesday announced new capabilities in Financial Services Cloud that aim to help insurance companies better execute digital strategies and retain top talent. According to Salesforce, many insurance companies still use decentralized legacy systems and lack a comprehensive digital transformation roadmap. 

With a new set of features, Salesforce is hoping to address some of these insurance industry shortcomings by providing agents and customer service reps with a more thorough view of customers and policyholders, ultimately helping them engage policy holders at the right place and time, and support cross-sell and up-sell activities.

Salesforce rolled out Financial Services cloud in 2016 as a way to tap into the financial services and tech market, bringing industry specific updates as well as innovation from Salesforce's platform to banks, insurers, and fintech companies. Financial services firms tend to operate with legacy systems and a complex web of integration points. Moreover, these firms often struggle to manually stitch together and correlate customer data from various systems to deliver personalized services at scale. Most of the features in Financial Services Cloud address these pain points.

As for the latest update, new services and features include a revamped Agent and Customer Service Rep Console, pre-packaged Lightning Flow templates that aim to apply business rules consistently and reduce inefficiencies, and pre-built analytics via Einstein that helps agents and managers optimize their books of business. 

"Now, more than ever before, the insurance industry is working towards delivering more relevant and engaging experiences at every stage of a customer's life," said Ayan Sarkar, Global Head of Insurance for Salesforce. "By leveraging data and AI and digitizing touch points, we can now help insurers deliver distinctive experiences."


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