Although InsurTech was once believed to be a threat to independent agencies, many agency owners now realize they can use technology to get ahead in a competitive market. But finding the right approach isn’t that simple. The right approach to InsurTech can help you overtake your competition, while the wrong choice can set you back years. Agency owners who get this right will be the ones you read about for the next decade. With so many options on the table, owners face a classic strategy question: build, buy or partner?
The importance of data privacy is at an all-time high, and there are no excuses for getting it wrong. As the entire insurance industry embraces the cloud, independent agents must work harder to understand data privacy, as well as the difference between ownership and right-to-use client information. Anyone who understands the insurance industry knows that access to data is the key to success. But who owns the data? Who is allowed to use it? And for what purpose? When information is shared over the phone and via email, the answers to these questions are unclear. But with the rise of InsurTech, there is an opportunity for greater clarity.
We’ve worked hard to simplify this process for you by creating a huge library of Smart Forms to collect information which we transfer to your Agency Management System - elevating the entire insurance broker & client experience into the 21st century. Here are the three main problems with Agency Management Systems and how we solve them.