As Director of Client Services, I work with and for
our independent insurance agency clients to provide the top agency management
system tools and training. Our team has worked with agencies across the
country, collaborating with teams of all sizes and experience levels to help
them achieve their desired outcomes of productivity, effectiveness and
If you describe your insurance agency management
system as “fine,” you’ve got a problem. Something so central to your agency
operations should be operating at a higher level than “okay.” If you’re
patchworking numerous systems from accounting to doc sharing with your
management system or relying on a self-created workaround to make your system
function, you need to take a step back and ask, “Is ‘fine’ good enough for us?”
Close to 90% of people say they always have their smartphone close. That’s 90% of people who can read and respond to anything sent to their phone almost immediately. With that sort of accessibility, integrated texting is a critical insurance management system tool. Texting is a great way to get short, important messaging to your agency’s prospects and clients, providing the convenient communication they desire.
Texting and Your Agency: Efficiency and Safety
Texting is not only fast, it’s also effective: texting open rates are around 98% while email is still hovering around less than 25%. With texting, you can schedule messaging knowing the recipient will almost certainly read it.
Dive deeper into texting and your agency with our post on texting best practices
Beyond its speed and efficiency, texting can also be a great addition to your E&O toolbelt. Integrated texting allows you to capture everything you sent in your agency management system, attaching it to client and prospect profiles as needed. This allows you to have a permanent record of your conversation instantly.
And, texting is a lifesaver when it comes to claims management. Texting allows clients to take photos and send information the moment an accident happens, making the information that much more reliable. In many cases, texting is even better than opening an app as it requires no sign-in and it’s a process the client knows well.
Get best practices on all agency communications on the SIS blog
Texting and the Partner Platform
At SIS, we’ve worked with our customers to provide all the efficiencies they need while remaining E&O complaint. That’s why we added integrated texting to the Partner Platform.
Texting is integrated directly so our Partner agencies can send messages right through the system and replies will be captured and paired with prospect and client profiles. And, it’s easy for clients to opt-out per texting regulations. It’s just another way Partner Platform helps your agency get more done, better.
Learn more about our integrated texting, and other Partner Platform features: contact us today to view a demo and see how Partner Platform can transform your agency.
If you’re like most small business owners, you’re constantly struggling to get a handle on how you’re using your time. It seems like there’s never enough to get all your work done. You have numerous areas you want to improve, specifically around serving and gaining customers, if only you could salvage a few hours a week to focus on them.
It’s getting colder, things are moving slower, and the out of office responses are growing in number – it’s the end of the calendar year. This is a time for holiday celebrations, gathering with friends and family to look back at the year passed and make resolutions for the one to come.
December is also the ideal time for your agency to slow down, take stock, and establish your own resolutions for growth. Break out agency management system reports and ask yourself: “Where have we been? Where should we go? And how do we get there?”
See the Top Agency Reports to Gauge Sales Success on our blog
Reports are the window to your agency’s future. They tell you where you’re performing well and highlight areas to improve. And, since all your agency data is stored in your management system, they’re easy to obtain.
If you’re just getting started with reports, it can be overwhelming to know where to start. So, we’ve come up with the top reports you need to run to measure your sales success.
Start with Your Data
First things first: data coming out is only as good as data coming in. To get useful reports, you must establish insurance agency workflow procedures around data entry.
Work with your team to make data entry uniform across the agency. Discuss best practices around creating customer profiles and recording information. It’s important to ensure all policies have information – like producer, CSR, and premium amounts – assigned appropriately. Policies must be accurate and up-to-date every day to guarantee precise, clean data for accurate reports.
Cut down on data entry by using integrated systems in your agency
1.) Sales Reports
Reports: Sales Pipeline, Win/Loss Ratio, and Sales Production Reports
These reports answer a number of questions, such as:
- Where is your sales team winning and why?
- What opportunities are you not winning and where is that business ending up?
- What industries/markets is your agency succeeding in and how do you focus on growing that book of business?
Another less obvious but impactful report is an Activity report, showing where your sales team is spending their time. If you’re not tracking sales team activities in your agency, it’s time to start.
Check out these tips on how to create a winning sales team in your agency
2.) Current Business Reports
Reports: Book of Business and Production Reports
Your management system should give you a clear picture of your existing business, including breaking down by the following:
- Policies by Carrier
- Line of Business
- By Personal, Commercial, and Benefits
You can also gain current business insights by viewing CSR activities and workload by carrier, line of business, policy type, etc. Reports like these can help with managing staff, telling you which CSRs or account managers have heavier workloads than others.
3.) Financial Reports
Reports: Balance Sheet and Income Statements
As you may have guessed, accounting reports are critical for understanding success as it pertains to the agency’s bottom and top line. These reports should be clean and easy to read and review with your bookkeepers and CPAs. Financial reports tell you where money is being spent and where money is being made, helping you determine how to best use funds and investments
Find out if you’re making the most of your insurance agency accounting data on our blog
4.) Activity Reports
Reports: Activity reports by staff and customer
Activity reports can tell you if: 1) your team is spending their time effectively and 2) if they’re spending it with the right clients. Use activity reports to see if VIPs are getting the attention they deserve and if too much effort is put into leads that go nowhere.
Client portals are a great way to capture customer activities, giving insight into what customers need and how they’re interacting with your agency.
Get All the Tools You Need in One System
Getting good reports has a lot to do with the tools you use to gather data. That’s why we’ve made our Partner XE agency management system so data-friendly, with integrated accounting and email systems, a Client Portal plug-in, and our Producer Results Manager and Marketing Automation Manager to help agencies track all the essential data they need in one system.
Get the full details on how Partner XE makes reporting easy. Schedule a demo and get in touch with an SIS team member today.