Cyber security is on the rise as the holiday shopping season and its vulnerability to cyber-attacks approaches. As an independent insurance agency owner, it’s your job to think about the data you protect. Client and employee data needs to stay safe from cyber-criminals, who are continually coming up with new ways to hack systems.
Enter your agency management system – one of your greatest cyber security tools. Your system houses all the data you need to protect, making it the front line in your cyber security. Ensure your management system provider offers all you need to keep such information out of the hands of criminals.
CLOUD STORAGE
Cloud storage is essential for data security. Your management system should be backed up by a third-party provider focused on security. Redundant backups and disaster recovery should be standard. Such providers have round the clock physical security, firewall data protection, and encrypted access. There is no safer place for your agency’s data to reside.
FREQUENT SECURITY MAINTAINANCE
Both your management systems and its cloud provider should routinely update security. As we’ve explored in past posts, cyber-criminals are coming up with new ways to break in to systems each day. Frequent updates mean your agency is one step ahead of the criminals in keeping your data safe. Such updates should happen quickly and easily, with the bulk handled by your provider.
QUICK RESPONSE TO ISSUES
You should feel like the number one priority to your management system provider. This means regular communication and quick responses to any issues. Your agency should have access to an individualized support team focused on your agency’s specific needs. In addition, your provider should have a contingency plan in place for unexpected disaster. They should be able to provide you with information on how to access your data and a timeline for recovery.
Ultimately, it is important to talk to your agency management system provider about what they’re doing to keep your data secure. Security is a top priority at SIS, as evidenced in our status as a CompTIA Security Trustmark+ company. Find out more about how we look out for our clients by visiting our client services page, or contact us today at [email protected].
There seem to be endless t’s to cross and i’s to dot as part of an agency’s daily workflow. These small but important details can pile up, making for hours of work that slow down operations. This month’s eGuide hits at the heart of your agency’s need: efficiency.
In this eGuide, you’ll find tools and processes that can shave time off these daily agency tasks, such as:
Utilizing integrated systems
Downloading useful mobile apps
Switching to a paperless workflow
Tapping in to customized claims processing
Each of these tools holds the power to streamline operations, benefitting both agency employees and customers. By implementing these small changes, you can start saving your agency time, energy, and money.
Success in business is about careful calculations: profit vs loss, supply vs demand, and investment vs ROI. Each of these formulas are configured and adjusted to ensure maximum efficiency, and each piece plays an important role. If one piece of the efficiency puzzles is off, there can be a huge loss of time and money.
These careful configurations hold true for your agency especially when it comes to effectively utilizing your agency management system. Many agencies don’t use all of their management system’s capabilities, neglecting time saving capabilities like data synchronization and customized output. These two elements can streamline data processing, further refining an agency’s efficiencies.
Below are some quick tips for increasing your agency efficiency through streamlining your management system’s data processing.
Data Synchronization (Data In)
Track account submissions for your carriers through modules recording number of submissions, account quotes etc. Such information can be used to build relationships with carriers and analyze how to adjust pricing for increased return.
Utilize real time downloads to keep up to date on each carrier’s capabilities, pricing, and communication with your agency staff. The saved keystrokes alone are a huge benefit.
Integrate with email and word processing applications such as Word and Outlook. Synching your emails and other client communication with your agency management systems means the data on each client is always up to date, making for a better client relationship.
Customized Output (Data Out)
Create policy proposal and summary templates by utilizing your management system’s mail merge capabilities. These quick templates speed up policy processing, saving time and money.
Implement custom reports for everything. From tracking new business to employee productivity, you can create the reports you need and set them up for continual output.
Get policy downloads from your carriers, both personal and commercial lines. This automated system saves you from having to re-type policy information and provides direct bill commission downloads.
Each of these elements take some front end work in training and creating agency-wide policies for use, but in the end the payoff is huge. It’s just another carefully made calculation for your independent insurance agency’s success.
Find out more about how to fully utilize your agency management system on our blog, or get in touch with an SIS rep today.
As the days grow shorter and the sluggish weather of winter approaches, staying motivated and working efficiently can require a lot of extra effort. However, it may not be the weather or the time of year that is slowing down your agency. Consider your processes, especially in terms of how you’re utilizing your agency management system. Are you missing the pieces needed to keep up to speed?
Using integrated systems are an essential part of an efficient independent insurance agency’s management system. The seamless workflow of connecting everything from claims processing to accounting frees up time for other tasks, and energizes your processes by moving multiple elements forward at one time.
Implementing paperless workflow through your agency management system is a triple threat. It saves you money, time, and it’s a win for the environment. Scanning and storing all documents through your agency management systems means you can easily search for what you need. A paperless workflow leaves room for continual improvement as you can easily move around and update your storage system and paperwork processes simply by dragging and dropping files.
Synching with other applications such as Outlook, voicemail, and Word means information is immediately attached to a client profile without any extra effort. Such synchronization means every piece of each client’s puzzle is in the same place, creating a complete picture. This full picture leads to better knowing and serving your clients – your ultimate goal as an agency owner.
Stop underutilizing your agency management system, and start opening the door to high productivity. The upfront implementation of these elements is nothing compared to the time, money, and effort saved by your agency and your employees.
A good management system provider offers easy implementation and training of these pieces. Our Partner XE system comes equipped with Outlook synchronization, integrated accounting, and a paperless workflow, along with customized training and continual client check-ins. Get the full story on what Partner XE has to offer here or contact us at [email protected].
As our lasts posts explored, cyber-attacks and data breaches have become all but commonplace, and your agency needs to step up security in order to protect your data. However, with so much on your plate already it may seem impossible to ensure your data stays protected. Doing your research and keeping informed on threats helps, but it can only do so much. It’s important to ensure all data coming through your agency is secure.
The best place to keep your data safe today is in the cloud. Cloud storage is convenient, and it offers top notch security to keep your most important information safe. Here are just a few reasons why the cloud is your best option for data protection:
Encryption is standard. Multi-character, complex passwords secure your data. It would take forensic software and hours of work to crack just one of these passwords.
Access is limited. Many hackers gain entry to data through web searches or downloads, but such actions do not occur in the cloud. Data comes in and out only through closely monitored access points.
Location is secure. Cloud providers work hard to ensure their facilities are located in areas safe from natural disasters such as hurricanes, floods, and wildfires.
Updates are automatic. Good cloud providers are automatically updating your information so you don’t have to worry about whether or not your latest data is protected.
Vigilance is constant. No matter how much you think about and focus on security, your cloud provider is always doing more. By updating defenses as vulnerabilities are discovered and constantly monitoring the safety of your data, your cloud provider is ensuring you have the best quality protection.
By placing your data in the safe hands out the cloud, you can rest assured you’ve done your best to stay protected. SIS knows the power of cloud security, which is why we utilize the best cloud security for all our Partner XE users.
Find out more about our cloud storage here or contact us at 800.747.9273 to find out more about how SIS focuses on data security and safety.
Automation plays a significant role in many industries, and insurance is no exception. The rapid innovations of insurtech have thrust data and automation into the forefront of ways to improve and enhance agency operations.
One of the most prominent data automation uses is in the underwriting process. Due to digitized automation processes, agencies are seeing loss ratios decrease and overall premiums increase. According to Willis Towers Watson, over 60% of agencies surveyed say the predictive analytics of automated underwriting have reduced issues and brought down expenses.
Underwriting automation has great value, but the wealth of data and required processing power can be daunting for the average agency. Yet, if your agency can put in place the right processes and people to gain and manage underwriting data, you can see a big change.
A lot has changed over the past few years due to the unexpected disruptions of the COVID-19 pandemic. All industries felt the impact, and the insurance industry is no exception. One of the most notable disruptions is the speed at which changes took place, especially around customer expectations and marketing.
What Your Agency Needs to Know About Insurance Marketing
Changes in insurance agency marketing that were projected to solidify in 5 to 10 years ended up evolving rapidly in just two. Chances are you’ve already made some of these adjustments to keep up with immediate demand, but there are other more “behind the scenes” adjustments agencies are making that you should note
The COVID-19 outbreak in 2020 left a lasting impact on the world, including how we do business. Quarantine and frequent lockdowns forced us to stay home, and the changes in customer expectations, work environments, and operations remain today.
Insurance agencies that weathered these changes have a few things in common. For one, they had the right insurance software to make the quick transition to remote work and service. Secondly, they have an enduring attitude of being open to change and a readiness to adapt. While we cannot predict what will disrupt the market next, we can use these markers to prepare with the right mindset, tools, and systems for the next unexpected interruption.
As the days grow shorter and the sluggish weather of winter approaches, staying motivated and working efficiently can require a lot of extra effort. However, it may not be the weather or the time of year that is slowing down your agency. Consider your processes, especially in terms of how you’re utilizing your agency management system. Are you missing the pieces needed to keep up to speed?
As our 