Just like many other industries, the insurance field is being transformed by digital innovation. Machine learning, predictive analytics, and better practice management capabilities are driving efficiency and unlocking new potential for agencies.
CRM or insurance renewal software can make all the difference in the world. In fact, one survey revealed that 47% of CRM users report a positive impact on their retention rates. But not all programs are created equal. In fact, the wrong program can even hurt your agency’s operations. In this article, we’ll tell you how good software will set you apart as an insurance broker.
A Personalized Experience
Customer and user satisfaction can skyrocket with personalized experience, no matter what industry you are in. When it comes to insurance renewal software, brokers are used to off-the-shelf products with clunky features and limited integrations. A complete software solution will give you the ability to totally personalize your experience to better meet the needs of your agency.
You’ll be able to configure your vital data exactly how you want it to make it easier to access and understand. You’ll be able to sort customers by insurance line, carriers, expiration dates, and any other combination of criteria that makes your operations more efficient. You can create a task dashboard that reminds you of important tasks, like your licensure renewals and continuing education requirements.
Customized Portal Features
One size doesn’t fit all, and your CRM or insurance renewal software is no different. You have unique working preferences, and your software should reflect that. A good program will enable you to create multiple views and interfaces, so each broker or agent can create an experience that works best for them.
When you work with multiple carriers and insurance lines, bouncing back and forth between portals and programs can be confusing and time consuming. A custom portal reduces the time spent between programs and redirects that time back to selling policies. Brokers and agents only have to learn one portal. Additionally, a customized portal looks impressive with branding and modern interfaces, can grow with your agency, and can easily be changed to better suit your needs.
Centralized Dashboard Reports
If you’re a multicarrier agency, you likely spend a lot of time bouncing back and forth between portals to run reports and aggregate your data. With good CRM or insurance renewal software, wasting all that time is a thing of the past. Since all of your account information becomes housed in one program, you can create easy-to-use dashboard reports right from one place.
You will be able to run analytics on many facets of your operations. You can run regular reports on both outstanding premiums and revenue collected, upcoming renewals, claims activity, and much more. Because all of this data is available from one dashboard, you do not need to worry about manually collating your reports from each carrier into one view. Not only does this save you a ton of time, but it improves the accuracy of your data by removing the potential for human error.
Work From Anywhere
The last few years have taught us that work can be accomplished from anywhere, not just in the office. Many CRM or insurance renewal software platforms are now cloud-based, meaning all the data is stored securely online and can be accessed from anywhere. This is helpful because it allows your brokers or agents to be able to work from anywhere. Whether it is because they are out of the office for business travel or working from home for better work-life balance, being able to work from anywhere means your team can be much more efficient.
Another benefit of a cloud-based platform is that it is easier to implement in your agency, especially if you have more than one location. With traditional software, the program would need to be configured on each computer in the agency. When you use a cloud-based program, your team can simply log into a website and use the program. This can also save you a lot of time and money if you need software support.
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