Why bother with an agency management system?

[John J90]

If using an online agency network, what is the point of using an agency management system?

[AgencyEquity]

What exactly do you mean by an "online agency network?" Are you talking about a carrier's system? There is so much more to a management system than inputing applications, you need to store documents, note client files, set reminders, pull a renewal list, create certs, this list can go on and on. Running an agency like your are an employee and cutting corners to save on expenses not only does not work well in the long run, but is a prescription for failure. Successful agency owners need to properly invest in their business to make money, those who are not prepared to do so would better servce themselves being an employee of an insurnace agency.

[beyert1]

I had a problem with the online systems I looked at and the one I tried. They were slow, went down if your internet went down and I hated not having the necessary control of the data. I also wanted to be able to make changes to the information I could input, etc. The list just kept going and going. So, I took ACT! and made it work for me. I now have a client management system I can work with, keeps notes, documents, pictures, client history, everything I need.

I also hated paying a monthly fee to have a system. With my system, I purchased the software and now I have no monthly fees. I have multiple people using the system all accessing a single database.

If you want to know what I have done let me know, tbeyer@thebeyeragency.com .

[AgencyEquity]

I had a problem with the online systems I looked at and the one I tried. They were slow, went down if your internet went down and I hated not having the necessary control of the data. I also wanted to be able to make changes to the information I could input, etc. The list just kept going and going. So, I took ACT! and made it work for me. I now have a client management system I can work with, keeps notes, documents, pictures, client history, everything I need.

I also hated paying a monthly fee to have a system. With my system, I purchased the software and now I have no monthly fees. I have multiple people using the system all accessing a single database.

If you want to know what I have done let me know, tbeyer@thebeyeragency.com .

In-house systems are a thing of the past, you bring up some problems with the online systems, but there are also many problems and disadvantages of resident systems. I prefer to pay a monthly fee and have a number I can all if something goes wrong. Also speed is really no longer an issue, online sysems can be nearly as gast as an in-house system. I also don't have to worry about upgrades and backup. Brokers need to sell insurance, not spend time figuring out what went wrong with their software.

[Brand]

If using an online agency network, what is the point of using an agency management system?

I use a management system and I could sing it praises all day. Its like having someone store all your documents for you, do your marketing, track renewals, run reports, etc and since its online I can access it all from anywhere. But I'm curious what exactly is an online agency network?

[beyert1]

The problem with most of the systems today are quite simple, they are designed for the office with lots of Agents, multiple locations and all sort of other items which I as a smaller office do not require. I looked at every system out there and found flaws in every single one. Basically I took all of the things I liked from each system and created my template in ACT!. It works like a champ. I have shown it to numerous account reps and other insurance agents and they are all like, you need to market this thing, you would make a fortune. This is not my goal. Mine is to have a system which will allow me to handle my clients needs.

So many of the program features in ACT! are not in any of the client managment systems. We are all sales people and ACT! is designed for sales people and I have made the alterations to fit all of my client needs for storing notes, emails, documents, pictures, voice mail files, faxes, policy information, company information, policy start and end dates, follow-up notes, potential sales notes, vehicle information, driver information, home information, business info, life insurance info, document and email templates and sales opprotunities and so much more. I will say many of the features were already in ACT!.

I was in IT and telecom for over 14 years and have been working with computers since the late 70's. I have designed my network to be flexible, stable and to do the backups on and off site with ease. I have had underwriters, claims adjusters and clients complement me on how quickly a document was sent to them, my ability to call up notes, emails and call logs for clients. My system has saved my rear end several times when clients state they did not sign a document such as a PIP rejection. I can pull all this up in a matter of seconds and have it to the necessary party in only a few minutes with an automatic record of when it was sent. Now, tell me how many of the client management programs also help you sell? None of them. They only store the information and that is it. My system tells me when to call a potential client back and what is about how, I made a quick note in the system to have me do this. Sometimes, months before. And I can send mass emails to my clients with only a few clicks and it records when I do so.

I have everything I need right at my finger tips and guess what, I can control every bit of it. I can make changes to the screens, add carriers quickly, add needed fields, add screens to ask clients about their life insurance and anything else I want. I don't have to rely on anyone to do it for me or wait for the next version. I understand not everyone has the capabilities I have. And with ACT! it is super simple, they even have videos on how to do it.

So, you may say on on-site management system is dead and the on-line system is the way to go but, I ask, what are you going to do when your internet goes down next time and a client calls and you need to make notes? Write them down on a piece of paper and hope you can remember to input it? My system is still up and running and working like a champ. Why should I pay someone to store my information when I can do it just as easily. Yes I had to but the equipment to do this but, in a matter of months it has paid for itself and I am saving money. Now, am I still dead with my on-site system? I don't think so.

The key thing to do is look and see what is best for you and not what other people always think. The people who program the on-line systems probably have never worked in an agent's office. The have no idea what an agent needs to make work flow actually flow. Look at every system and find what you want.

[chris294]

I think that there are many different reasons for having an agency management system vs. not having one or building one yourself.

With an agency management system you have integration with many of the comparative raters on the market today. Rate the prospect and choose the carrier you will be placing the business with and binding the policy. You can then bridge that data to your management system and create the client file scan in the signed application and you are done. The following day the carrier will download the policy detail with how the policy is in their system and now your management system contains the same data as the carrier system. If you need to re-rate a client you simply push a button and the data flows back to the comparative rater and you can re-rate that client without having to re-input any data. If you don’t sell the policy you have all the necessary information in your management system so you can continue to market your agency and its products to them.

The daily downloads from carriers will keep your client file up to date in the management system. Carriers will download on a daily basis new business, cancellations, reinstatements, and endorsements keeping your client file up to date without having to go to a carriers system to verify information. Also, many carriers are now downloading direct bill commission statements making it much easier to reconcile your commissions and pay your producers.
All activities are time and date stamped making them a permanent part of the client file helping to protect you from an E&O claim. With a management system you can quickly run a book of business report by carrier, by line of business by producer etc. Having a management system will also allow you to quickly identify any clients with home no auto, auto no home etc. making marketing and rounding your book of business very simple. Management systems make sending certs., binders, I.D. cards etc. a simple task by pushing data from the client file to these forms and allowing you to quickly email them to the client. No manual input is necessary and the activity is recorded in the system.

Not all management systems on the market require you to be online. There are systems out there that allow you to run on your local network. When you break down the monthly fee for a management system to a per day cost you will find that the time saved by being automated with a management system will more than pay that system. To me more time saved servicing means more time available to prospect and sell more business. So my question to you is, are you a programmer or an insurance agent?
Just some food for thought.