Whether you're building an insurance agency from scratch, or you're looking to scale an existing brokerage, there's a hurdle in your way that's not insignificant:
Managing, documenting, and storing all of your customer data, interactions, policies, and contact information.
There's a simple solution to this:
Insurance software.
But here's the thing:
In your search for the best insurance agency management software, you're going to come across well over 200 different platforms.
How do you know which one is best for your team? How do you know which to invest in?
Here, we're going to break this down for you nice and easy. We'll start with a simple intro to insurance agent software so we're all on a level playing field, and we'll discuss 6 of the major benefits that these platforms provide.
Then, we'll analyze how we judge and evaluate insurance industry software (so you can too), before giving you a sneak peek into the 6 best insurance agency management systems around.
So, gather ‘round, and let's get started.
Let's start simple: What is insurance software anyway?
Insurance software is a very specific form of software platform, designed to help insurance agents and brokers manage customer information, track interactions, simplify communication, administrate policies and claims, and report on the effectiveness of their efforts.
It's a mix of Customer Relationship Management (CRM) and Business Process Management (BPM), and, in short, it helps insurance industry experts do what they do on a daily basis.
Many insurance software vendors add a client-side to this as well, allowing customers to log in and update contact information, lodge claims, and review policy information.
Let's face it, the insurance industry isn't exactly synonymous with cutting-edge technology. However, with insurance software, you don't have to be stuck in the past. It can revolutionize the way you do business.
Here's how:
No more sticky notes and scattered spreadsheets! Insurance software acts as your command center, housing all client information in one secure, accessible location. Imagine instantly pulling up a customer's policy details, quote history, and even past interactions with your team – all with a few clicks. Talk about efficiency!
Forget cold calling and hoping for the best. Insurance software equips you with powerful lead management tools that identify, nurture, and convert potential clients into loyal policyholders. Picture automated follow-up emails, personalized quotes, and targeted campaigns – all designed to turn leads into gold.
Remember those tedious email blasts and repetitive tasks? Leave them behind! Insurance software lets you set up automated drip marketing campaigns that run on autopilot, sending personalized messages, reminders, and even birthday greetings. Imagine building relationships with your clients while you focus on what you do best – providing exceptional service.
Knowledge is power, and insurance software gives you the power to analyze your business like never before. Track key metrics like policy renewals, customer acquisition costs, and agent performance, all presented in clear, actionable dashboards. No more guessing – make data-driven decisions that propel your agency or company forward.
Ditch the siloed approach and embrace a holistic view of your clients. Insurance software provides a 360-degree view of each customer, including their policies, claims history, interactions with your team, and even preferences. This deep understanding allows you to personalize your service, anticipate their needs, and build stronger, more lasting relationships.
Implementing insurance software has numerous benefits for agents and brokerages. But they can all be boiled down to these 6 crucial wins:
With automated reminders and a user-friendly interface, clients are prompted well in advance of their policy expiration dates, reducing the likelihood of lapses in coverage. This not only ensures peace of mind for policyholders but also contributes to the overall efficiency of insurance agencies.
Insurance agencies can significantly benefit from software that expedites the assignment of cases and claims. Ringy's seamless integration with Google Calendar, for example, allows for real-time updates and efficient allocation of tasks among team members. This not only minimizes delays but also enhances collaboration within the agency.
In an era where data breaches and cyber threats are prevalent, insurance software plays a pivotal role in fortifying data security and ensuring compliance with stringent regulations. These platforms often incorporate robust encryption methods and multi-layered security protocols to safeguard sensitive client information.
Moreover, insurance software is designed to adhere to the ever-evolving regulatory landscape governing the insurance industry. This includes compliance with data protection laws, such as GDPR or HIPAA, depending on the nature of the insurance business.
Customers aren't just numbers in a spreadsheet – they're the very reason you're in business. Insurance software empowers you to deeply understand your clients with centralized data dashboards and detailed customer profiles. You can analyze buying patterns, identify potential risks, and tailor products and services to their specific needs.
This laser-sharp focus on customer insights can increase sales by up to 15%, according to a McKinsey report. Now that's what we call personalized service!
Implementing software for insurance agencies leads to more streamlined operations and, consequently, reduced labor costs. Automation of routine tasks such as data entry, policy issuance, and document processing allows employees to focus on higher-value activities.
Insurance software provides a robust platform for managing and optimizing sales processes. From lead management to policy issuance, the software ensures a seamless and efficient sales pipeline. This boost in sales efficiency not only enhances revenue but also establishes a competitive edge in the dynamic insurance market.
Effective communication is paramount in the insurance industry, and software plays a crucial role in facilitating seamless interactions with clients. Features like automated communication tools and client portals enhance communication efficiency. This not only improves customer satisfaction but also strengthens the overall reputation of the insurance agency.
By combining the aforementioned benefits, insurance software contributes significantly to stronger customer retention rates. Timely renewals, efficient claims processing, personalized interactions, and streamlined operations collectively create a positive customer experience.
When you're evaluating the different software used by insurance companies, navigating the various features, uses, and benefits can quickly become overwhelming.
To help you understand how we've evaluated the 6 insurance software platforms we're about to present, let's first discuss the 11 areas we look to determine whether they're a good fit or not.
It's pretty simple.
If the software isn't easy to use, then it won't get used.
Insurance client management software should make it simple for your agents to:
On top of all of this, you should consider the usability (and presence/absence) of the provider's mobile apps.
Why?
Because when they use mobile apps, 3x more sales agents meet their targets compared to those who don't.
The best software for insurance agencies is designed not only to manage existing customer relationships but to create new ones by lifting sales performance.
As such, you're going to need some lead management functionality.
Look for these 5 features when choosing a provider:
Does the insurance software platform you're investigating make it simple for agents to create and edit policies, store documentation, and process claims?
If you've already got an internal claims management process and system, and you're simply looking for a software platform that can assist with customer interactions, then you'll want to determine if the two products play nicely together.
If they don't have a native integration, you might be able to connect them both with a third-party tool such as Zapier.
Automation is a critical feature for insurance agents when choosing the right software platform.
Using this feature, agents can automate regular manual tasks such as email correspondence and report creation, freeing up hours of time on a weekly basis.
Automation isn't just a Yes or No kind of feature, though.
Some insurance software platforms offer a few basic automation features, others allow you to get in and automate pretty much any feature.
Our advice: prioritize a platform with a sophisticated automation system. You'll notice the efficiency gains almost immediately.
A surefire way to minimize friction and make the customer experience seamless and enjoyable is to make it easy for customers to update their details, lodge claims, or contact support.
Some insurance software platforms help to facilitate this by providing client-facing features.
Look out for things like:
As an insurance agent, it's unlikely that the only software package you're going to use for daily activities will be the insurance software you choose.
More likely, you'll also be using email agents, calendar tools, and risk calculators.
To keep manual work to a minimum and speed up your workflows, you should find a solution that offers a strong set of integrations with other software packages.
Ask yourself these 3 questions:
It goes without saying that a core part of an insurance agent's role is getting on the phone and speaking with customers and prospects.
How can insurance software assist with this?
Firstly, many platforms allow you to set up a VoIP phone, so you can click to call within the software and speak with your clients without picking up your phone!
Secondly, your insurance software should allow you to schedule phone calls, and track conversations as you have them.
Some even allow for call recording and automatic transcription, so the details of your conversations are stored for future reference.
Across all industries, the average time it takes to close a sale is 102 days, and insurance sales are no different.
The point?
Closing an insurance deal takes a number of interactions, spread out across a little over 3 months.
That's a lot of time spent crafting emails and SMS messages.
You can save a lot of that time, though, by implementing an insurance software platform that allows you to create automated drip campaigns.
Drip campaigns send out pre-crafted emails and SMS to your customers at intervals determined by you, without any need for a sales agent to get involved.
The typical insurance brokerage is not only aiming to manage and retain its current customer base but to grow it!
To do that, you need to set some metrics and determine the effectiveness of your sales activities based on your actual performance.
In short, you need some form of reporting suite.
We'd recommend looking for an insurance software platform that allows you to create custom reporting dashboards based on your own needs. This will allow you to jump in on a daily or weekly basis and access all the reports you need in one place.
Of course, what we're all thinking is:
How much does this stuff cost?
Well, it differs per product, of course, but a few things to consider are:
Most importantly, you should consider a package's cost in relation to the feature set it offers.
A platform that costs twice as much as another might not actually be more expensive in the long run, if the savings it promotes through its extensive automation capabilities outweigh the additional ticket price.
Lastly, consider your expectations around customer support.
Are you going to need a lot of help getting set up? Or are you cool with watching a few videos and diving straight in?
If and when a problem arises, do you expect an immediate response, or do 24 hours seem like a reasonable turnaround time frame?
Do you need a dedicated support rep, or are you happy being helped by a different person each time?
These are all aspects to consider when assessing an insurance software provider's support offering.
So, are you feeling pretty confident with your ability to judge insurance software platforms' capabilities now?
Cool. Let's now take a look at the 6 most powerful platforms for insurance agency success.
Okay, yes, a little shameless self-promotion.
But here's the thing:
Ringy really is one of the best software platforms for insurance agents.
Here's why:
Ringy has one of the most advanced automation feature sets on the market, powerful communication tools such as VoIP, SMS, and drip campaigns, and cutting-edge AI technology that drives sales conversations.
In short, it's an insurance agent's best friend.
Ease of use
You'll find few platforms that are as intuitive and easy to grasp as Ringy.
We've put customer details and sales reporting all within a couple of clicks, and empower sales agents to send SMS and email, and even call customers directly from the interface.
The Ringy mobile app is ideal for field agents, connecting you with your customer data wherever you are.
Lead management functionality
Ringy packs in several features for managing leads throughout the sales journey:
Policy and claims management capabilities
Ringy is designed as a sales enablement platform rather than a claims management tool.
While you can manage a pipeline of claims, access customer details, and integrate with document storage solutions like Google Drive, customers are unable to lodge claims directly into Ringy.
You can, however, integrate Ringy with your claims management system through Zapier.
Automation
Ringy's automation setup is second to none. Using our insurance software, agents can automate:
Client-facing features
Ringy is an agent-facing platform, and as of writing, does not offer any client-facing functionality.
Integrations
Ringy offers 3 main integrations:
Calling Functionality
The calling functionality in Ringy is deep and effortless. Agents can integrate a VoIP phone and dial directly from the interface using click-to-call, or can make phone calls using the mobile app.
Drip campaigns
Drip campaigns are simple to set up in Ringy, allowing you to schedule, say, a 30-day campaign that includes a number of calls, emails, and SMS messages to nurture your long-term leads.
Reporting and analytics
Ringy uses powerful AI to provide insights on agent performance, revenue projections, email open rates, CPA metrics, and more.
Support
Ringy offers a completely free account system/optimization and onboarding to every user while most CRM systems charge anywhere from $300 to $1000+ for custom onboarding. Upon signing up, customers will receive a welcome call followed by an email with more information.
Customers also get personalized onboarding from the customer success team in charge of setting up the account and integration. The customer service is available 7 days a week via phone, email, and webchat. Weekly webinars are also available on the website.
You can even create a one-tap reporting dashboard that is accessible from your desktop or mobile device.
You'll pay $109 a month for Ringy, plus:
|
Evaluation Criteria |
Rating /5 |
|
Ease of use |
4.3/5 |
|
Lead management functionality |
5/5 |
|
Policy and claims management capabilities |
3/5 |
|
Automation |
5/5 |
|
Client-facing features |
0/5 |
|
Integrations |
1/5 |
|
Calling functionality |
5/5 |
|
Drip campaigns |
5/5 |
|
Reporting and analytics |
4/5 |
|
Support |
5/5 |
|
Pricing |
$109 per month |
*Pricing as of January 2024
Told you we had good reason to blow our own horn.
Applied Epic is a cloud insurance management software, allowing agents to gain a 360-view of their customers, connect with insurance providers, and manage sales opportunities.
Ease of use
Applied Epic is reasonably user-friendly, though the interface is a little dated-looking and somewhat clunky.
Considering that Applied Epic is one of the most technologically advanced insurance platforms out there, it does a decent job of making things accessible, but it's still not the most user-friendly interface out there.
Lead management functionality
Applied Epic offers your basic lead management functions and some decent sales reporting.
However, features such as lead routing and scoring are not a strong point.
Policy and claims management capabilities
Applied Epic has a native document management platform for policy management and also integrates with a couple of other tools to assist the claims management process.
Automation
You'll find most of the regular automation features you're looking for in Applied Epic:
Client-facing features
Client-facing features don't appear to be an area of focus or strength for Applied Epic.
Integrations
Applied Epic has a pretty robust set of native integrations, including:
Calling functionality
Applied Epic integrations with Twilio, one of the most advanced cloud communications platforms in the world, to take care of calling functions.
Drip campaigns
Applied Epic does offer some sales automation, however, drip campaigns aren't a focus-point for them.
Reporting and analytics
Applied Epic has some great integrated reporting capabilities, from out-of-the-box dashboards to custom reports that cater to your specific interests.
Support
Applied has a large team of support specialists that can assist you in setup, and even have video support available to help you around the clock.
Pricing: You'll have to contact their sales team for pricing plans.
|
Evaluation Criteria |
Rating /5 |
|
Ease of use |
3/5 |
|
Lead management functionality |
3/5 |
|
Policy and claims management capabilities |
4/5 |
|
Automation |
3/5 |
|
Client-facing features |
0/5 |
|
Integrations |
5/5 |
|
Calling functionality |
4/5 |
|
Drip campaigns |
2/5 |
|
Reporting and analytics |
4/5 |
|
Support |
5/5 |
|
Pricing |
Undisclosed |
*Pricing as of January 2024
Jenesis Software is an insurance agency software platform designed for mobile agents to access all customer data, wherever they are.
Ease of use
Jenesis is reasonably easy to use, offering an intuitive mobile app for phones and tablets.
The web interface could use a little work in terms of design, but it does the trick and most things are easy to find.
Lead management functionality
Jenesis software has a few lead management features, like SMS and email capabilities, and drip campaigns.
Policy and claims management capabilities
Jenesis has some decent policy management functionality, with the ability to scan and upload documents, receive payments, and automatically create notes when policies are created or amended.
Automation
Jenesis has a few basic automation functions, particularly on the sales front, but it isn't particularly advanced in this area.
Client-facing features
Jenesis offers a couple of client-facing features, including credit card and electronic signature integrations.
Integrations
Integrations aren't a strong point for Jenesis. They integrate with Formstack for electronic signatures, and QuickBooks for accounting purposes.
However, these integrations are only available on the self-hosted version, not on the cloud version.
Calling functionality
No customer calling functions are offered.
Drip campaigns
The software does offer drip campaigns, but it's pretty basic (email only) and is an additional cost.
Reporting and analytics
Jenesis has some decent reports built right in, including:
Support
Most of Jenesis' support team are technical advisors, so it's nice to know that if you need to solve a problem, the person you're talking to knows what they're doing.
Pricing
Pricing starts at $60 per user, per month, but does not include access to all features.
|
Evaluation Criteria |
Rating /5 |
|
Ease of use |
4/5 |
|
Lead management functionality |
3/5 |
|
Policy and claims management capabilities |
4/5 |
|
Automation |
2/5 |
|
Client-facing features |
3/5 |
|
Integrations |
1/5 |
|
Calling functionality |
0/5 |
|
Drip campaigns |
3/5 |
|
Reporting and analytics |
3/5 |
|
Support |
4/5 |
|
Pricing |
$60 per month, per user |
*Pricing as of January 2024
Macaw is an AMS (Agency Management System) designed to help insurance providers reduce their cost per policy through intuitive sales automation and lead management.
Ease of use
Macaw is known for its modern interface and easy-to-grasp design.
Lead management functionality
Macaw is CRM-based, so it has excellent contact management capabilities, and a few decent lead management functions such as activity tracking.
Policy and claims management capabilities
Policy management and creation are where Macaw really excels. It can help agents to create as many as 1000 new policies in an 8-hour day!
Automation
The software has a few automation features, allowing it to automate:
Client-facing features
Macaw has a few client-facing features, most notably and integration for document signatures. However, they aren't particularly user-friendly for less-than-tech-savvy customers.
Integrations
Macaw has 4 third-party integrations:
Calling functionality
Macaw doesn't have any form of phone or SMS functionality, just emails.
Drip campaigns
Drip campaigns are limited as a result of it being an email-only platform. It's possible to set up email campaigns, but that's all.
Reporting and analytics
Macaw is firmly in the middle-ground when it comes to reporting and analytics. You get what you expect, but the functionality isn't particularly deep.
Support
Macaw's support team is said to be quite helpful and regularly available, though there doesn't appear to be an onboarding process, so it's very much a ‘learn on the job' kind of platform.
Pricing
Macaw uses a subscription pricing model, but they do not disclose amounts. You'll need to get a demo for that.
|
Evaluation Criteria |
Rating /5 |
|
Ease of use |
5/5 |
|
Lead management functionality |
3/5 |
|
Policy and claims management capabilities |
5/5 |
|
Automation |
4/5 |
|
Client-facing features |
2/5 |
|
Integrations |
3/5 |
|
Calling functionality |
0/5 |
|
Drip campaigns |
1/5 |
|
Reporting and analytics |
3/5 |
|
Support |
4/5 |
|
Pricing |
Subscription - undisclosed |
*Pricing as of January 2024
AgencyBloc is an AMS designed specifically for health insurance and life insurance experts.
Its main features are:
Ease of use
AgencyBloc is relatively simple to set up and has a fairly small learning curve.
It has a decent user interface, too.
Lead management functionality
AgencyBloc allows reps to manage leads by:
Policy and claims management capabilities
AgencyBloc is focused more on new policy acquisition rather than managing existing policies and processing claims.
Automation
AgencyBloc has a great automation set. Teams can create automated communications, set follow-up reminders, determine prospect trigger events, and A/B test automated emails.
Client-facing features
AgencyBloc doesn't appear to do much on the client-facing front.
Integrations
AgencyBloc is reasonably light on the integration front, offering just 3 third-party integrations:
Calling functionality
AgencyBloc has an integration with Intulse to manage VoIP calls, allowing you to click-to-call from the CRM interface.
Drip campaigns
You can create email drip campaigns using AgencyBloc, but they don't appear to offer SMS features at this point.
Reporting and analytics
Reporting is made easy in AgencyBloc. They have some intuitive reports that are highly visual, making it easy to see what you need, when you need it,
Support
AgencyBloc has a strong support team, which you can contact via email or via a direct line on the phone.
Pricing: Plans start at $105 a month for AgencyBloc.
|
Evaluation Criteria |
Rating /5 |
|
Ease of use |
4/5 |
|
Lead management functionality |
5/5 |
|
Policy and claims management capabilities |
1/5 |
|
Automation |
5/5 |
|
Client-facing features |
0/5 |
|
Integrations |
2/5 |
|
Calling functionality |
5/5 |
|
Drip campaigns |
3/5 |
|
Reporting and analytics |
5/5 |
|
Support |
5/5 |
|
Pricing |
Plans start at $105 a month |
*Pricing as of January 2024
AMS360 is an advanced agency management system for insurance agents of all kinds.
Ease of use
Despite AMS360 being quite a complex tool, it's quite easy to use. Here's a review from one user, for example:
AMS360 is one of the more intuitive options when it comes to agency management systems. I have worked in Epic, TAM, AFW, and proprietary systems and AMS360 is by far the most user-friendly option.
Lead management functionality
Included with AMS360 is Vertafore Client Communications, an AI-powered client communications tool, with email templates, SMS, user segmentation, and NPS (Net Promoter Score) capabilities.
Policy and claims management capabilities
AMS360 has a number of policy and claims management tools, including documentation management, import/export features, and agency risk calculation.
Automation
AMS360 includes some pretty powerful automation tools, useful for both client communication and lead management, as well as business process management on the internal front.
Client-facing features
AMS360's integration with Vertafore Client Communications and InsurLink bring to the table a simple and intuitive digital experience for your customers, including activity tracking and two-way document sharing.
Integrations
AMS360 has one of the best integration stacks out there:
Calling functionality
All of your call features are covered with Vertafore Client Communications.
Drip campaigns
Drip campaigns are simple to create in AMS360, unlocking a seamless customer experience and superior lead nurturing.
Reporting and analytics
One area that many AMS360 customers seem to dislike is the reporting functionality. For example, it lacks the ability to report on employee and licensing data.
Support
Users confirm that the support offered by AMS360 matches its extensive array of agency management solutions.
Pricing
Pricing for AMS360 isn't disclosed on their website, and you'll have to request the information from their sales agents.
|
Evaluation Criteria |
Rating /5 |
|
Ease of use |
5/5 |
|
Lead management functionality |
5/5 |
|
Policy and claims management capabilities |
4/5 |
|
Automation |
4/5 |
|
Client-facing features |
5/5 |
|
Integrations |
5/5 |
|
Calling functionality |
5/5 |
|
Drip campaigns |
5/5 |
|
Reporting and analytics |
2/5 |
|
Support |
5/5 |
|
Pricing |
Undisclosed |
*Pricing as of January 2024
Bringing an insurance software platform onboard can absolutely transform your agency's sales and customer service operation.
But, only if you choose the right one.
Will you be prioritizing automation to save your team valuable hours? Or perhaps you're in need of the software solution with the most reasonable monthly cost and best support around.
Need a little more help to decide? Have a chat with one of Ringy's insurance software experts or book your demo today.