Why Agencies Must Consider Having an Insurance Agency Management Software
Insurance agency management software or AMS is the next step forward for agencies if they wish to thrive in the long run. The 21st century is undoubtedly the digital era and a digital transition is inevitable. Those who fail to embrace technology and its services, are bound to drop out of the competition. An insurance agency management software not only automates everyday tasks and operations, but also enables agencies to store documents and records in a single system. The cloud-based storage system eliminates cabinets that take up a large space, and ensures your agents have accessibility to important customer data at any given time.
The word is going digital, what about you?
As internet grows to touch lives in almost every aspect, the dependency on it grows exponentially. Any product or service that is not available on the internet is regarded to not exist anymore or old fashioned. This increases the need for agencies to constantly upgrade their technology in order to compete.
Going digital is a growing necessity, however, it is win-win situation for agencies and consumers alike. While the digital platform and automation features of the software contribute to higher customer satisfaction and retention. The integration features and the cloud-based storage facility allow agencies to pour in more time on increasing sales through accurate estimates.
Insurance agency management system include marketing automation, customer data, policy document management, and analytics to increase sales and revenue process. The back-office automation and customer relationship management features help support the day to day operations for insurance agencies.
Paper documentation is an old-fashioned method that is less efficient and less secure than a digital platform. It contributes to an agency’s added expenses. It is not only expensive and adds to an agency’s expenses, but also a tedious process that takes up quite a lot of space. Adopting software such as an AMS can save agencies time, money and effort. Other than this, important documents are also provided with the protection they require.
The cloud storage facility will grant you access to your documents anywhere and at any time. Leaving employees with more time in hand to attract new customers and build stronger relations with those that already exist. According to a report by Applied System, there is 35% higher revenue per employee for agencies that have a single view of customers. These are all the benefits an agency can enjoy upon embracing technology and its services.
However, there are many insurance software and various types of AMS available in the market. Agents and agencies must first identify their goals, requirements and research on the market before making a decision. Unlike CRM, or customer relation management system, that are built with only basic features to support basic business operations. An agency management system is built to handle a specific niche in order to bring about the best results. According to American Psychological Association, the need to juggle between systems reduces 30% of productivity in employees and agents. This is why agents must take their time out to sit down and find the right AMS that best fits their needs.