A Guide for Selecting the Right Insurance Agency Management System
In this blog, we will guide you on what you should look for in an agency management system that best fits your agency. We will also talk about why using insurance software like AMS will do wonders for your agency.
BulletintheNews reported insurance AMS to be a 12.5-billion-dollar industry in 2018. And by 2025, at a CAGR of 5.1%, it is estimated to be a 17.7 billion industry.
If you run an independent insurance agency , your firm is bound to grow. You’ll have a big book to handle, vast chunks of data and paperwork to sort and above all, a lot of customers to manage. That’s where an insurance agency management system comes to your rescue.
Now, there are more than 70 AMS available in the US market. And as per , these software tools can cost you anywhere from $1,000 to $5,000 for a start-up. Likewise, monthly fees can be $60 to $600.
According to InsureUp, GlobalData’s 2017 general insurance survey, found that 18% of buyers would instead purchase their auto or home insurance from Amazon.
So, b efore you choose an AMS for your agency, you need to identify your needs and select the one that best fits your agency. K eep ing up with the trends in the industry is a must!
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