Why Do You Need an Insurance Agency Management System

Nicholas Ayers

Nicholas Ayers

Better Agency Co-founder

The day-to-day business of running an insurance agency is full of menial procedures and paperwork that can take up hours of your time–hours you could be spending drawing in new clients, expanding your business, or just relaxing. Fortunately, there is a simple automated solution that you can use to save yourself time, money, and stress.

And this wonderful tool isn’t just a generic system that should–but doesnt–work with any business type. Instead, it’s a software designed specifically for your insurance agency with all the bells and whistles you need to ensure your success. The tool? An insurance agency management system.

Let’s dive into a more detailed explanation of management systems and their importance before exploring the many ways an insurance agency management system can benefit you today.

What is a management system?

A management system is, essentially, the brain of your business. It’s where all of your information is stored and organized, where policies are held, and where automated tasks are carried out via basic system procedures. It can track details of various policies, increase the productivity of your employees by lightening their workload, and help you automate various claims and commissions processes.

It’s the software that keeps your applications running smoothly and your business working for you so that you don’t have to spend all your time on paperwork. Instead, with the right management system in place, you can focus on attracting and holding onto solid insurance leads that you can use to grow your business instead of merely maintaining it.

Importance of having a management system in insurance agencies

Insurance agency management systems are important for several reasons, not the least of which is that it exponentially decreases the stress and workload on you and your employees. It tackles all of those time-consuming and frustrating jobs, while ensuring that each necessary but menial task is carried out perfectly every time. And more than that, its process automation can save you thousands per year.

More specifically, management systems can help you manage your documents in a single interface, integrate that data with other systems, personalize your customers’ experience with your agency, automate marketing processes, ensure compliance is being kept, and can take care of most of your accounting needs.

Let’s take a closer look at each of these many benefits that insurance agency management systems can provide you with.

1. Organize documents in a single interface

Your productivity levels drop fast when you have to constantly switch back and forth between different screens and systems to manage a single client. In fact, this kind of content switching can kill up to 80% of your productivity at any given time. And with the fast-paced demands of business today, you can’t afford to waste time jumping between systems. 

Fortunately, you won’t have to with a single insurance agency management software because all of the information you need is handily located in a single easy-access system that makes disorganization virtually impossible.

2. Data integration functionality

With your insurance agency management system, all of your data is automatically centralized and organized in a way that is optimized for your business. It’s easy to retrieve and saves you a ton of time every year that you would otherwise have sent digging through paperwork or scouring your computer for the right files.

And because you no longer need to go off on a wild goose chase to find your client’s information anymore, your company and employees will inevitably become more efficient and productive.

3. Personalize your customer’s experience

Your clients want an insurance experience that is tailored to their needs. It’s why they spend so long hunting for the right company to work with. So, once they find your agency, make them want to stick around by prioritizing the things that are important to them. 

Help them through the insurance claims and conversions processes. Listen to their requests and make them feel heard and understood even if you can’t deliver exactly what they’re asking for. If you do, your conversion rates will increase along with cross-selling rates, potential app installs, and other positive customer interactions.

4. Automate your marketing practices

Research shows that 63% of companies that leverage integrated sales automation outgrow their competitors, and that statistic is nothing to laugh at. With the use of management systems in your marketing practices, you can exponentially increase vital customer retention rates and boost your clients’ lifetime value while simultaneously strengthening your relationships with your customers. 

Additionally, this system type is great at helping you upsell and cross-sell your products to customers because it can help you understand which customers will be more inclined to prefer certain products, renewals, or services over others so that your marketing strategies always meet the right audience.

5. Ensuring compliance

Making sure you stay on top of compliance codes can be one of the most tricky parts of running an insurance agency because those rules are seemingly changing and updating all of the time. With an insurance agency management system, you can greatly reduce your stress on this front because the system ensures that any policies you issue conform to the legal and industry requirements set so that you don’t get in trouble for missing or forgetting important policy information, no matter how small it may be.

6. Automate annoying accounting processes

Accounting is equally one of the most important and mind-numbing parts of running your business. Having a system in place that manages the minutiae of accounting can be a real life-saver. Insurance agency management software systems are specifically designed to help you through the more time-consuming parts of accounting by assisting you in tracking payments, recording account histories in very specific detail, invoicing customers, and performing countless other important tasks.

Invest in Insurance Agency Management Software today!

Insurance agency management software is a must-have for insurance agencies, especially if you want to expand your business and reduce your workload. There are so many ways that this specifically-designed system type can help you run day-to-day operations–from managing customer data to ensuring compliance and keeping up with accounting procedures. It’s one of the best investments you can make for your business. 

So, what are you waiting for? Contact Better Agency today!

Manage and Automate Your Agency With Just One System!

A simple to use “done for you” system that allows you to grow sales and save time. 

Trusted by hundreds of P/C agents in all 50 states