800.747.9273
Planning for the Next Stage in Insurance Agency Management: Perpetuation

Planning for the Next Stage in Insurance Agency Management: Perpetuation

Over the past few years, there has been a surge in insurance agency management transitions. Mergers and acquisitions specifically are on the rise, with an estimated 550 deals, up 12% from the previous year, in the first quarter of 2021. While these transitions can be profitable for owners, they can come with significant trepidation and worry from employees and customers.

As an owner, you need to start thinking ahead about how to prepare your agency for its eventual ownership transition. Whether you plan to perpetuate internally or externally, it’s essential that you prepare. That preparation includes setting your agency up for its highest valuation, prepping your team, and investing in tools and processes to bring your agency into the future.

read more
The Workforce and Your Insurance Agency Management: How to Recruit for the Future

The Workforce and Your Insurance Agency Management: How to Recruit for the Future

The insurance industry – like others today – is understaffed. In late 2021, an insurance labor market study showed that 53% of agencies planned to “aggressively hire” within 12 months to fill vacancies. The same study also showed that it’s becoming increasingly difficult to fill open positions. As an owner, your insurance agency management relies on knowledgeable staff, but it can be challenging to fill positions in today’s market.

With hiring season just around the corner, your agency needs to focus on how to recruit new talent for your team. Past tactics may no longer work on a younger, more tech-driven workforce. It’s time to expand your outreach, position insurance differently, and look for diverse qualities to keep your agency growing.

read more
The Top Insurance Agency Management Tips to Set Your Independent Agency Apart

The Top Insurance Agency Management Tips to Set Your Independent Agency Apart

As the insurance industry grows more competitive, the particulars of your specific insurance agency management will make your business stand out. Those particulars could be location proximity, ease of doing business, or even something as simple as how your website looks. Though price still matters, changes in cost can only go so far.

The true test of what makes your agency the best choice is the overall customer experience. Seemingly small touches that make each interaction easier, more personable, and leave each customer with a positive feeling have a real impact. Today it’s about more than the best price and the latest tech; it’s how you use these tools to empower, differentiate, and create the best experience in your agency.

read more
Customer Knows Best -The Insurance Software You Need to Meet Changing Customer Preferences

Customer Knows Best -The Insurance Software You Need to Meet Changing Customer Preferences

Independent insurance agencies are starting to feel the heat. Though independent agencies provide a level of personalized service and care big names never can, insurtech’s sophisticated insurance software is beginning to bridge the gap.

According to experts at PropertyCasualty360, “With increased competition from insurtechs and rising labor costs, in order to stay competitive, companies need to…provide a seamless omnichannel experience.” That means broadening how you’re serving your customers, keeping up with evolving customer demands.

Do you have the right insurance software to meet these growing customer needs?

read more
Looking Ahead: Why Agent Expertise in the Digital Insurance Age Matters

Looking Ahead: Why Agent Expertise in the Digital Insurance Age Matters

Digital insurance is the future. According to Reuters, over $10 billion were invested in digital insurance technology in the first nine months of 2021 alone.

But, a rise in digital insurance tech use doesn’t mean a decline in demand for people in the industry. J.D. Power found that agencies that increased their “digital offerings” didn’t necessarily see a boost in customer satisfaction. While customers value the speed and efficiency digital tools offer, they also need that human connection.

read more
Year in Review: Our Top Agency Software Posts of 2021

Year in Review: Our Top Agency Software Posts of 2021

This year continued a trend of technology’s growing influence in the insurance market and all industries at large. We saw a shift where more clients embraced agency software and integrated it into their regular systems and processes. This growing interest and influence prompted our Partner Platform and SIS teams to ramp up our tech focus, including several blog posts on this highly relevant topic.

read more
Infographic: How Your Database Affects Insurance Agency Management

Infographic: How Your Database Affects Insurance Agency Management

Whether you know it or not, data and database management significantly affect your insurance agency management. As the industry becomes more competitive, managing and using agency data are vital to identifying and amplifying your agency’s value.

With a quality management system and insurance CRM, you can target better quality leads, improve marketing, and grow your business for years to come.

read more
The Key to Better Insurance Agency Management is in Who You Hire: Download the eGuide

The Key to Better Insurance Agency Management is in Who You Hire: Download the eGuide

There are many ways to improve your insurance agency management, but one of the most impactful is hiring the right people. When you have the right people for the right job, you start from an optimal point.

But how do you know who to hire? We’ve got your answers in our latest eGuide, Who You Hire Matters: The How and Why of Hiring Great Producers and Leaders.

In this guide, you’ll learn:

read more
Purchase or Persuade – Do you Buy Insurtech Software or Ask Providers for Integration?

Purchase or Persuade – Do you Buy Insurtech Software or Ask Providers for Integration?

The evolution of sales as a software (SaaS) has dramatically changed the software landscape. Thanks to their easy-to-integrate nature, more businesses use SaaS applications over desktop software to improve operations. A 2019 report found that companies with less than 50 employees had, on average, 47 SaaS apps in use across their organization.

This SaaS revolution takes shape in the insurance industry with insurtech. Based in SaaS, insurtech provides streamlined operations through integrated solutions. While agency owners recognize the benefit, many ask how to incorporate insurtech – do they implore their management system providers or take on the integrations themselves? The answer lies in what it is you as an owner want for your agency.

read more
Insurtech: Finding the Best Fit for Your Agency

Insurtech: Finding the Best Fit for Your Agency

This past year was one like no other. With the entire world forced to move to digital work rapidly, many industries felt growing pains and suffered from the sudden shifts. One industry that didn’t was insurtech.

The term “insurtech” applies to a variety of digital tools used in the insurance industry. Everything from a client portal to an integrated rater are insurtech. Overall, insurtech removes barriers in insurance, speeding up enrollment and claims processing, among other procedures, making it easier for agencies to grow their business and serve their customers.

read more