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Insurance Policy Management Software Checklist for Independent Agents

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Insurance policy management software can help you be more efficient and provide a more seamless customer experience. But purchasing or upgrading this tech can be costly and time-intensive.

To narrow your search, you’ll need to know which software features can deliver the best value to you and your customers. Your software needs these three to be effective.

Feature 1: Customer Activity Tracking

When you’re working with a customer, preparedness is key to earning their trust. You should have all necessary customer information in front of you – and you shouldn’t have to rummage through filing cabinets to find it. Enter: software-enabled customer activity tracking.

How it helps you: With customer activity tracking, you can easily access customer data to pick up each consultation where you left off. This feature should allow you to track a customer’s:

  • Historical policies held.
  • Updates to personal information.
  • Beneficiary changes.
  • Stage in the policy lifecycle.

When your insurance policy management system features customer activity tracking, you’ll waste less time searching for and updating paper files before each consultation. You’ll save time updating customer records, too: your software should make those updates as customer data comes in.

How it helps your customers: With the time you save, you can spend more time meeting each customer’s needs. They’ll appreciate your ability to make each meeting productive from the start.

How it helps your agency: When customers have frictionless agent consultations, they’re likely to continue using your service. Customer activity tracking can create a seamless customer experience that improves customer retention.

Feature 2: Task Automation

Workplace inefficiencies are a universal problem: 67 percent of workers worldwide think they waste time doing repetitive tasks. How much time, exactly? An average of four and a half hours per week.

Many independent agents likely fall into that category. From email delivery to data processing, agents regularly handle repetitive tasks. But with automation capabilities, your insurance policy management system can do that work for you.

How it helps you: Task automation can save you time and improve communications. You should be able to automate things like:

  • Application processing.
  • Policy renewal notifications.
  • Relationship-building messages – think: “Happy birthday!” emails.

You can dedicate the time savings from task automation toward building and strengthening customer relationships.

How it helps your customers: With automated policy info delivery, every message your customers get from you will be valuable and timely. This shows you’re serious about addressing their needs, building trust in your agency in the long term.

How it helps your agency: When you can put more energy into serving your customers, you have the potential to generate more revenue for your agency.

Feature 3: Intelligent Opportunity Finding for Customers

Manually finding new policy sales opportunities often involves reviewing pages of customer data to home in on their coverage gaps. But with intelligent opportunity finding, your insurance policy management software can analyze customer data to find new policy sales opportunities.

How it helps you and your customers: Imagine that you’ve just sold a customer a homeowners insurance policy. Your software can pull a report showing that your customer still doesn’t have flood or auto insurance. With that information, you can then recommend additional policies to help them satisfy their needs.

Your customer might not have known they needed to mitigate risks in other areas. By analyzing customer data to find new policy opportunities, your insurance policy management system helps you maximize the value you deliver.

How this helps your agency: Additional policy sales give customers more reasons to use your service. Combined with its other benefits, your insurance policy management software can help build the kind of customer loyalty that lasts.

The Right Tech Can Revolutionize Your Policy Sales

Upgraded policy management software can save time and boost productivity, which helps you gain an edge on your local competition.

But policy management software isn’t the only tech you need. Robust IT infrastructure, accounting software, and digital marketing support can take additional back-end work off your plate. With the time you save, you can focus more on revenue-generating activities.

As a We Insure partner, you have access to all of these tools and more. Want to learn more about how We Insure supports our agents? We’d love to chat.

 

The information contained in this page is provided for general informational purposes only and may not be applicable to all situations. We Insure makes no guarantees of results from the use of this information.

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The information contained in this page is provided for general informational purposes only and may not be applicable to all situations. We Insure makes no guarantees of results from the use of this information.