(Image credit/Pixabay/Free-Photos)Pacific Life has selected Salesforce as one of its strategic technology partners. The company plans to get a 360-degree customer view and deliver seamless and integrated experiences across its US retail businesses.

Established in 1868, Pacific Life is a Fortune 500 insurance and retirement solutions company that manages $158 billion in assets. The company provides services such as life insurance, annuities and mutual funds through independent financial professionals. These financial professionals sell these services directly to consumers.

Prior to Salesforce, Pacific Life’s employees across regions and departments did not have a single platform to view and manage every customer relationship and interaction. To address this challenge, Pacific Life partnered with Salesforce on a new initiative it calls the NextGen CRM Programme. The programme is designed to bridge the gap between Pacific Life’s sales, service and marketing teams. It reimagines how the company engages with financial professionals.

Deploying CRM platform

Brian Woolfolk, FSA, MAAA, Senior Vice President, Sales and Chief Marketing Officer, Retirement Solutions Division at Pacific Life
Brian Woolfolk, FSA, MAAA, Senior Vice President, Sales and Chief Marketing Officer, Retirement Solutions Division at Pacific Life

“Pacific Life recently celebrated its 150-year anniversary. I believe that the next 10 years will involve more change than those 150 years combined,” said Brian Woolfolk, senior vice president, sales and chief marketing officer for Pacific Life’s Retirement Solutions Division.

“We are coming together to digitally transform and build the future of our organisation. We are thrilled that Salesforce is one of our partners in this journey forward.”

Pacific Life will deploy Salesforce as its enterprise-wide, integrated CRM platform to support customer engagement. The company intends to deliver high-value, differentiated experiences by better collaborating and connecting across teams.

With a single view of the customer and data in Salesforce, Pacific Life will be able to prioritise and tailor digital interactions to each individual customer based on needs. The company believes it will more effectively measure impact across the business. In addition, it will be able to connect with customers on their preferred channels. This includes traditional call centre and digital channels such as email, social chat and text. As a result, each interaction will be smarter and more personalised.

Modernising products and services

Pacific Life is also modernising its approach to how it offers its products and services to digitally-minded consumers. The company has tapped into an ecosystem of distribution partners using APIs. By building an application network of reusable APIs, Pacific Life can integrate with new partners on digital platforms like Blueprint Income. The company plans to reach new customers with innovative products.

(Image credit/LinkedIn/Rohit Mahna)
Rohit Mahna, SVP of Financial Services at Salesforce

“Financial professionals expect the same personalised touchpoints and convenience when working with institutions as they get from their favourite consumer app experiences,” said Rohit Mahna, SVP of Financial Services at Salesforce.

“For companies like Pacific Life, that means offering a seamless, convenient experience across the entire organisation. Pacific Life is becoming an even more engaging and personalised organisation, and we are excited to help enable this shift.”

Pacific Life’s digital transformation with Salesforce includes Financial Services Cloud, Einstein Analytics, Einstein Data Discovery, Marketing Cloud, MuleSoft, Quip, the Salesforce Lightning Platform and Success Cloud advisory services.

Enterprise Times: What this means for businesses?

CRM enables a business to deepen its relationships with customers, service users, colleagues, partners and suppliers. Forging good relationships and keeping track of prospects and customers is crucial for customer acquisition and retention, which is at the heart of a CRM’s function. You can see everything in one place — a simple, customisable dashboard that can tell you a customer’s previous history with you, the status of their orders, any outstanding customer service issues, and more.

Gartner predicts that by 2021, CRM technology will be the single largest revenue area of spending in enterprise software. If your business is going to last, you know that you need a strategy for the future. For forward-thinking businesses, CRM is the framework for that strategy.

Is it the case that Saleforce’s CRM platform is becoming more prominent than its eCommerce platform? Already, leading financial services institution deploys Salesforce as its enterprise-wide, integrated CRM platform. Salesforce is now in a good position to push seamless engagement with financial professionals around the globe.

The company recently announced Salesforce Blockchain, an initiative to extend CRM to its client base. Salesforce says it will deliver a fast, easy way to build trusted partner networks which share verified and distributed data.


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