Agencies that are still doing business the old-fashioned way (e.g. scanning signed apps, emailing submissions to multiple markets, etc.) are at a significant disadvantage to those who leverage agency management software with a focus on automation. While there are numerous advantages to having the right AMS, here are five benefits agencies enjoy when using a system such as Verity.
The amount of data you must keep on each client can be overwhelming. The right agency management system can simplify the process of finding the right information when you need it.
Instead of searching through your emails when you’re processing renewals, sorting through a document storage system like SharePoint when you’re looking for client coverages, or accessing one system to process an endorsement and another to handle the billing, the right agency system allows you to keep all this information in one place. Furthermore, it also eliminates the need to enter the same piece of data into different systems from tracking.
No one wants to sit at a desk and do the same thing repeatedly, day after day. Tasks such as sending follow-up emails, processing renewals, and following up on past due balances can become monotonous and lead to work dissatisfaction.
A good agency management system does the tedious tasks for you. Automating duties that recur frequently frees up time to do more important things at work, such as building relationships with your clients.
Not only do agency management systems improve your overall efficiency when it comes to processes, but it can also increase sales. The right agency system can notify you of incoming leads so you can follow-up faster than your competitors. It can also notify you of upselling opportunities you might have otherwise been unaware of. Lastly, it can make commission tracking a breeze letting you know what commission you’re owed, and what commissions you might owe other agents when it’s brokered business.
As personable of an agent as you may be, no one likes buying insurance. Most customers consider shopping for a policy a chore; any inconvenience they experience only adds to their overall negative perception of the insurance industry.
Increasing your speed in retrieving information about their policies can decrease your clients’ wait time. Having so much information readily accessible will make you appear more organized and efficient, leading to happier customers and more referrals.
You would never try to sell homeowners insurance to someone who lives in an apartment or car insurance to someone who doesn’t drive. Thus, wasting time marketing products to customers who do not qualify for them is pointless.
By allowing computer algorithms to compile and analyze client data for you, you can redirect marketing efforts toward customers for whom they are better suited. For example, without a data management system, you may not realize how many of your clients do not own homes and might be interested in renters insurance.
Agency management software is an excellent investment for agency owners, managers, and insurance agents because it makes everyone’s jobs easier. It is also a favorite of clients who enjoy greater satisfaction when interacting with their agents.
Say goodbye to outdated systems and begin looking at a solution that will provide what you need to increase productivity, decrease costs in the long run, deliver frictionless transactions, and remain competitive in today’s environment. For more information about VRC’s Verity software and to book a demo, click here or contact us at 541-209-0700.
