Web Portal Development

Self Service Portal For Two Big Financial Transactions

Back in March when the lockdown was beginning, the weather was also changing from spring to summer. And when the weather changes, I tend to get a sore throat. So of course, as someone who Googles everything, I Googled the symptoms of coronavirus and convinced myself that maybe I had it. Reader, I didn’t.

If you can convince yourself you have a much bigger health issue when you just have the common cold, it is needless to say, the scale of that comparison and panic varies from person to person and disease to disease.

And health is one aspect of life that we’d like insured, so when something actually happens, we are taken care of.

Other things that we like insured are our cars, houses, gadgets, and almost everything. Why? Because we buy really expensive things sometimes and expensive things also break. It just takes way more to fix an expensive thing as compared to something that cost less originally.

Similarly, an equally complicated financial matter is getting a loan for anything. And just like with insurance, getting a loan to purchase anything has become the trend. Right now, while personal finances have taken a hit, more people are likely to take loans for various things like education, house, etc.

Insurance policies and loan dealings are confusing. One better than the other, each with some caveat that you never find out about until it’s too late. It can be messy.

And if you are in the insurance and loan business, that will definitely not go well with the people now. More and more businesses are learning the value of being transparent with their clients and customers, and earning an honest buck instead of fraudulent practices.

And of course, being transparent with your customers is simpler than ever before now. You can just give them access to certain modules of the business that concern them. How? Using a portal.

You can give them access to your CRM in a way that benefits them. How will this work? The below points apply to both insurance policies and loans. Let’s take a look:

Choosing a policy:

First and foremost, your client has to choose a policy that works for them. Unless they have all the information regarding all that you offer, they cannot make an informed decision about it. Give them access to your policy plans, and if you update any of your policies, make sure to notify them of the updates. Be clear in your language in the policy so there is nothing ambiguous that they are agreeing to.


The easiest way to make a purchase decision regarding most things, product or service, is to compare it with close matches. As an insurance provider or mediator, your job is to provide a platform that helps them compare the different plans. Once a person compares, it becomes easy for them to see which plan provides them the best coverage.

Policy benefits:

Putting your hard earned money into a future you cannot see, is difficult. So if you are providing benefits on purchase of the policy, or a yearly benefit after that, be clear in getting that message across. Now, these gifts would differ based on the plan that a client has picked, so the portal is a great way to manage the dynamic offers you have.


No one is going to buy insurance of any kind without knowing exactly how much they will have to pay and the benefits they will get in return. Add a neat calculator where the client can feed in variables. When they try out variations, they can decide which plan is in their budget and works for them.

Knowing the interest one would have to pay on a loan is just as important and the client will appreciate being able to calculate it.

Support Backing the Businesses:

Any business needs financial support, especially in a pandemic. So around the globe are looking for the places where they can get a short-term mortgage loan to back their business to sustain in this situation and come out strongly. Hence, the portal interface will provide them a place to find and choose from different loan options and easily apply for it online with minimal steps. A win-win for lenders and borrowers using portals!

Exception list:

With each plan, make sure to give a detailed exception list for situations that the plan will not cover. This makes it easier for the client to know how to navigate the plan and therefore pick one that matches their needs the most.

Overall, financial transactions like insurance and loan have a number of small details to take care of. And with increase in the demand right now, you might just be short staffed. Good thing a self service portal can help your clients serve themselves. And clients often prefer that over too many insistent calls from people trying to sell them misery via insurance coverage. And it is hardly possible to have your agents take meetings with clients right now. It is not going to be possible to do so at scale, in the near future as well.

About us:

CRMJetty makes custom portals. And we can make one for you fast enough that your business can take advantage of it right now when the demand is high. Contact us to discuss this in more detail and we can get together a portal that best suits your business offerings.

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