Data isn’t just for “big tech” and major corporations anymore. Tech advances made data and analytics accessible to everyone – including your agency. Modern agency software kept pace with the rise of big data, and successful agencies now leverage data for everything from customer service to prospecting. In fact, data-driven businesses are five times more likely to make decisions faster than their peers, meaning those who ignore data are left in the dust.

Does your agency have what you need to keep up?

See what else your agency needs to stay relevant in today’s tech-driven market

Step One: Gain Data with the Right Software

Whether you leverage data or not, insurance remains a data-driven business. Millions of decisions are made each day based on a prospects’ driving, health, and other histories alone. Your agency needs software to gather, track, and analyze this wealth of information to keep up. Top data systems include:

  • Customer Relationship Management (CRM) to gain sales data
  • Client-facing apps and portals to leverage customer preference data
  • Marketing Automation to harness marketing data
  • Integrated systems to save from creating data silos
  • Secure infrastructure to keep data safe

Read more on how CRM and marketing automation systems can improve your agency outreach

Step Two: Put the Data to Work

Gaining data is one thing, but it’s what you do with it that matters. There are a host of ways to leverage data in your agency. Start with some of these ideas:

Improve customer coverage. Leverage comparative raters and do your own analysis to see where there may be gaps. Look at the number and types of claims your customers have and how that translates to their coverage costs. Use this information to inform current customers and prospects on the best coverage for their situation.

Improve upsells. Look at your customer base and identify customers with similar coverage. Make a note of those who are missing coverage that their peers have and offer them the opportunity to obtain the coverage they may need.

Improve profitability. Examine your book of business and note areas where you’re doing well and those that need improvement. You can double down on your successful areas and decide whether to work to improve or cut loose areas where you falter.

Improve lead identification and scoring. Use CRM capability to analyze certain geographic areas, carriers, and markets to understand prospect preferences. Couple this with marketing automation to identify how leads are interacting with your brand and advance your ability to score leads properly.

Improve overall processes and service. Data analysis can help you see larger patterns in your marketing, sales, service, and administration, giving insights into how to improve overall operations. With this knowledge, your agency can stay one step ahead at all times.

Discover more about how data can predict customer behaviors here

Step Three: Continue to Grow with the Right Data Partner

If you’re unsure where to start with data tools, we’ve got you covered. Our Partner Platform agency management system has a host of tools to fit your agency needs, including our Producer Results Manager CRM, Marketing Automation Manager, and integrated Client Portal. Get all the tools you need to identify, understand, and target your agency data all in one place.

Get in touch to view a demo and find out more at sales@sisware.com or 800.747.7005, Option 6.

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