7 Essential Insurance Agency Tools to Scale your Agency in 2019

  • OLIOLI
  • December 24, 2018
  • OLI Insights

Top Insurance Agency Software, Tools & Tips to
Grow your Agency in 2019

All of the technology and resources you encounter can be overwhelming but when used right can make a meaningful and lasting impact on your business – especially when you’re just starting or growing quickly and needing to scale.

OLI Insurance has tried them all and curated this list of 7 of the most critical tools and practices that you should consider implementing in 2019 to scale your business and spark your agency’s growth.

7 essential insurance agency tools to scale your agency in 2019

Agency Management Software

This is insurance-specific customer relationship management software that will manage critical client information like policy documents, notes, and statements. The leaders in this space are Applied, Vertafore, EZLynx and Hawksoft.

Digitized Insurance Forms

Eliminate PDFs, back-and-forth emails, and spreadsheets with your applicants. Streamline the information gathering process with digital insurance forms to simplify your data gathering. Our favorite tool is Indio.

Large Account Support

What do you do when a large account needs more support than you can provide in-house? Make sure you have a large account support plan in place with a turn-key partner like us, OLI Insurance!

Outsourced Account Management & Assistant Support

Use your time wisely and focus on your core competency. Let your production team sell while also broadening your services. OLI can help you with assistant and account management support, as well as fully outsourced support for lines of business you don’t have expertise in!

Data-Enabled Market Intelligence & Automation

The right approach to your target audiences and markets can make all the difference, cutting down on the time you need to research the right market. Insights include identifying which insureds only have 1 LOB (Line of Business) with an agent, providing an opportunity to upsell or cross-sell. Some of these various platforms also allow Agents to track their outreach efforts, find relevant customer information, and gauge customer satisfaction.

Some popular platforms include Rocket Referrals, Agency Revolution, Outreach.

At OLI, we’ll use our proprietary big data to drive our Affiliates to the right market to quote a piece of business.

OLI uses data sourced from third parties, as well as internally across our entire organization, to help our Affiliates identify the right market to approach for various prospects and clients. We are in the process of launching our Rapid Lead Channeling technology which automates this and provides market recommendations in real time.

Comparative Rating Solutions

This is another critical area that can reduce your time spent researching with automation. Eliminate duplicate, triple, or even septuple entries by using a comparative rater. We have comparative rating solutions such as PL Rater which integrates with a preferred Agency Management System, as well as with the carriers raters; we also see many use FSC, Turbo Rater and others which are also excellent solutions.

Broad Market Access

Many access partners provide access to a small set of specific markets, then leave the agent partners on their own to find markets for various accounts that don’t fit with the specific carriers they have direct access to. As such, agents find themselves spending extensive amounts of time finding markets and various intermediaries to get access to those markets. OLI provides extensive market access, and also helps agents identify the right intermediaries to go to directly when the standard markets they have access to are not a fit, and also simplifies the process of working with those intermediaries.

 

 

OLI Insurance Services

OLI Insurance provides turn-key solutions to assist with the challenges of running an agency, including:

  • Expansive carrier access and market intelligence
  • Exclusive proprietary technology solutions
  • Proprietary programs and insurance products to help you differentiate
  • Tools to make key technologies easy to engage with
  • A la carte assistant and support
  • Account management support
  • Perpetuation/exit strategies

As your go-to Agency Partner, we provide every affiliate with a white glove, concierge level of support.

Our Affiliate Partnerships Support:

  • Startup Agencies
  • Agencies looking to Grow
  • Agencies looking to Perpetuate/Exit

OLI is your agency partner for Opportunity, Leverage, Innovation and Perpetuation.