August 10, 2023

4 Operating Practices Used by the Most Enlightened Agencies

Discover our Enlightened Agency pyramid to help guide your agency on its journey to digitalization and ensure you’re following digital best practices for the insurance industry.

Share icon

Investments in digitalization are already making a clear difference within the insurance industry. For instance, one automotive coverage insurer converted 40% of policyholders to their service, partly because of a simple online sign-up process.  

Ensuring your agency is digitally mature and following best practices is one way to prevent wasted time for agents. Moreover, highly-digital agencies grow an estimated 70% faster, highlighting the need for agency digitalization to stay competitive

For agencies wanting to understand their level of digital maturity and follow industry best practices, we’ve created the Enlightened Agency pyramid to help. 

The Enlightened Agency Pyramid 

Too many agents are still using paper-based applications and renewal procedures combined with multiple phone calls, emails, and questionnaires conducted manually. Clients and agents can be forced to manually fill in repetitive exposure data in a time-consuming and error-prone process. For agencies seeking that lightbulb moment, they should seek to consolidate their systems and workflows to streamline digital processes, improving efficiency and, in turn, client satisfaction and retention. 

Level 1- Most Agencies: The majority of agencies are currently at the base of the pyramid. These agencies have reorganized their operations to align better with their customer segments. For instance, the US is geographically large, so splitting into West, Central, and East helps target customers who may prefer working with an agent in their time zone to improve speed and efficiency. 

Within these geographical areas, further segmentation by industry vertices, such as transportation, construction, and healthcare, further improves the customer experience by ensuring they can reach a specialist for their vertical.  

Level 2 - Many Agencies:
The next level of the Enlightened Agency pyramid involves the standardization of agency management systems (AMS) to ensure they are using the most effective option available. This is particularly important for agencies that may have undergone an acquisition or merger that has resulted in multiple AMS use across operations. 

Standardization, therefore, is a minimum expectation from this level that enables a greater overview of the client base, improving data visibility and reducing the need to transfer data between systems manually. Costs can also be saved by eliminating the need to maintain multiple systems. 

Level 3 - Some Agencies:
As we move down the pyramid, we reach a handful of agencies that have already standardized their AMS and have begun examining their workflows and processes. Agencies at Level 2 of the pyramid have refined their operations to ensure the most seamless experience for clients and agents alike. 

Consistency with procedures, such as new client onboarding and claims processes, means customers can become confident and familiar with company procedures. Standardization also helps reduce errors and inconsistencies, making for more cost-effective and efficient operations. 

Level 4 - Enlightened Agencies: At the top of the pyramid, agencies leverage Broker Buddha’s technology to deliver the best possible customer service. Migrating to the cloud and adopting automation are key ingredients for becoming an Enlightened Agency, as they enable time-saving functions such as eSignatures and automated reminders to streamline operations. 

By harnessing the power of technology with Broker Buddha, agencies can enhance the client experience with intuitive smart forms that automate processes and provide branded client portals to track the status of their application, renewal, or claim.

An Enlightened Industry

As more and more agencies become empowered by their digital transformation, we’re excited to see the effect of that change in the industry. As long as the administrative details are taken care of, agents can lend their time to other critical activities like improving customer service, cross-selling policies, and completing Continuing Education requirements.  

With Broker Buddha, agencies see a turnaround of customer applications in as little as three and a half days as required fields and natively integrated eSignatures help speed up the process. With automation, agencies save as much as one hour for every application process—an incredible amount of time if it were to be multiplied across the industry.

If you’re looking to become an Enlightened Agency, get in touch and book a demo via the Broker Buddha website to start your journey.

Goodbye time wasted.
Hello optimization with Broker Buddha

blue check mark
Online forms
blue check mark
Efficient use of time
blue check mark
Automated Reminders

Never miss an episode

Subscribe here to be notified when a new podcast episode goes live.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Broker Buddha logo
Replaces email, paper,fax, spreadsheets and PDFs, simplifying the submission process
Featured Articles

You might also like

Sep 29, 2023
An Interview with Acturis Co-CEO Theo Duchen: Why did we acquire Broker Buddha?

We sat down with Theo Duchen at Acturis to dig a little deeper into why they chose Broker Buddha, and their vision for our shared future. 

read now
Jun 1, 2023
Client Insights: How Broker Buddha Enables Agencies to Win in a Competitive Market

Jason Keck
CEO / Co-Founder, Broker Buddha
read now
Oct 13, 2020
Is your agency like a doctor's office?

The most painful part of a visit to the doctor is often the paperwork and administrative details. Is your renewal and application process as tedious and redundant?

read now
Sep 21, 2020
It took a pandemic to make insurance go digital?

The changed nature of business during the pandemic has forced many insurance agencies to embrace technology. In the end, that's going to serve the industry well.

read now
Sep 4, 2020
Labor Day: good. Paper forms for commercial insurance: bad.

As you power down for the long weekend, a quick reminder that paper forms—or clunky PDFs—are appreciated by, well, no one.

read now
Aug 28, 2020
Do you like paper forms?

Back when these things happened, we went out on the streets to ask for some opinions on the ACORD 125.

read now
Aug 25, 2020
Vertafore was acquired for how much?

Roper Technologies acquired Vertafore this past month. Our CEO, Jason Keck, weighs in on this news and the future of broker software.

read now
Jul 3, 2020
FinTech Innovation Lab pays dividends.

The 12-week FinTech Innovation Lab program finished last week with Virtual Demo Day. We're excited to take what we learned from the experience to continue building and improving our platform.

read now
Jun 30, 2020
For every insurance agent with kids who ask, "So what do you do all day?"

The pandemic has forced many agents to work from home. If your office colleagues now include young children, you're probably getting lots of questions. Our ebook for kids has answers.

read now
Mar 23, 2020
Commercial Insurance and Coronavirus: Agents Talk

On Friday, March 27th, we're hosting a webinar with three agency leaders to share information that will help others navigate through the coronavirus pandemic.

read now
Mar 20, 2020
I have coronavirus

Some thoughts about what it means to get sick or be around people who are...and what Broker Buddha is doing in the meantime.

read now
Sep 16, 2019
This is big.

Broker Buddha Expands, Announces $4.5M Funding Round

read now
Nov 15, 2018
Built In (Customer) Success

As a CEO, I believe that support and training don’t end after your first week... whether you are an employee or a customer with us. That would be crazy! We are always here to provide answers and take care of our clients.

read now
Nov 8, 2018
What Happens When I Join Broker Buddha?

So you’ve decided to join us at Broker Buddha. Awesome! Now what? Unlike some platforms, starting with Broker Buddha includes a personalized training process. We want to ensure you are set up for success and fully understand each feature we offer so you get the most out of our platform.

read now
Oct 25, 2018
Data Entry SUCKS!

Data entry REALLY sucks. No one ever wants to do it, but its such an important and fundamental part of the insurance application process. To be honest, I am not even sure what is considered the worst part of data entry. That it's boring, or that it’s a waste of valuable time. Time that you could be selling, consulting, and making a blueprint for the expansion of your operation. A bigger problem, is that because people dread data entry they often try to cut corners, put it off for too long, or do it incorrectly.

read now
Sep 20, 2018
PDFs Are Dumb

I live my life with three core values...Adventure, Hospitality & Creativity. And while "going paperless" may be creative for some, I have a bigger goal. I want to eliminate PDFs.

read now
Aug 14, 2018
PDFs are the Devil —Solving the Major Pain Point of Carrier Supplementals

Face it, paper insurance forms are a hassle. Often, you and your insureds have to fill out tons of paperwork — a process that takes hours. PDF forms aren't much better. Most of the forms ask a bunch of the same questions. Why should you have to answer them twice! Clients often need to print a document, sign it, scan it and send it back to their broker. Surely, there's an easier way to process applications?

read now
Aug 13, 2018
The People We Value Most

We love selfless, reliable and resourceful go-getters, who have a burning desire to do something amazing, a true awareness of their strengths and weaknesses, and a willingness to learn and grow. That’s who I am. That’s who we are.

read now
Aug 12, 2018
Meet Simplicity

Simplicity is also what you’ll find our stories. We’ll share everything about what we believe with you...not just the tools we build, but also how we communicate. In the first entry I’m happy to introduce you to - Simplicity, by Broker Buddha.

read now
A buddha linear icon


Book a demo