The Technology Capabilities You're Missing Out On

September 5, 2017 Becky Schroeder

Are you fully using the insurance agency software you currently have? Before you kick your technology to the curb, check to make sure you’re using all the capabilities available to you. ITC President Laird Rixford explains in this five-minute video.

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Video Transcript

Are you using your rater to the fullest potential? Are you taking advantage of everything available to you in your management system? Are you doing everything with your website you can to attract traffic?

The insurance agency software you’re already using may fill your needs. You just might not know it if you’re not fully using what you already have.

I know. It’s tempting to blame what’s not working in your agency on not having the right technology.

If you could just find the right comparative rater, productivity would improve. If you had the perfect agency management system, you’d retain more clients. If you had the right insurance website design, you would have more leads.

In some cases that might be true. But before you kick your current software to the curb, take a hard look at what you’re currently using.

These are the most common features or capabilities I see agents not using in their technology platforms.

First, commission reconciliation in agency management systems.

Is your management system calculating the commissions carriers owe you for every policy you write? You can reconcile the statement with what carriers are sweeping from your trust account. It also will help you determine whether your producers are entering the correct commission amounts.

Next, mobile agency management access.

Some agency management systems offer mobile access as a premium feature. If you’re paying for it, make sure your producers are using it. If they’re not, find out why. Maybe they need it but forgot they have that as an option. Maybe they don’t. Either way, you need to find out.

This is a big one. Agency management reports.

Are you reviewing your agency’s performance? What about producer performance? If you’re not looking at your reports weekly, you’re missing an opportunity. Because you can’t improve what you don’t measure.

Do you look for opportunities to round out accounts? Cross-sell reports are critical for this task. Remember, you have a greater chance of closing a new sale with an existing customer than trying to sell a prospect who is not familiar with you.

Then, there are the reports in your comparative rater.

The best raters have reporting capabilities. If yours does, you should be looking at those reports. They can tell you the number of quotes your agency is doing by producer, location, line of business, carrier, and lead source. And, so much more.

And speaking of lead source… Use this field in your rater to track the lead source for each and every policy you quote.

Consistency in your lead sources is critical to your marketing, which can lead to more sales. Hold your producers accountable to filling in this field 100 percent of the time.

Next, use the follow up reminders in your comparative rater.

It’s easy to let following up on every quote slip when there are so many other things to do. Don’t.

You’ll find that following up with every prospect can drastically improve your close ratio. Even if it’s just twice for each quote.

The follow up reminders make sure you don’t forget. It’s even better if your comparative rater integrates with your marketing system, which can automate those follow ups.

Next, if you’re able to update the content of your insurance agency website, you need to be.

I see so many websites with default content on the home page or a blank About Us page. That’s a problem.

Update your content for the search engines. They like it and will give you more visibility. ESPECIALLY if you update it often.

More than that though, you need to change the default content or add content to a blank page for your customers and prospects.

Default content that says nothing about what makes your agency special does not impress prospects. Neither does a blank about us page.

Finally, if your website has a blog, you need to be blogging.

It is the single best thing you can do for your website. If it’s helpful, consumers like it. And so will the search engines.

Yes, it’s hard work to blog. You need to be consistent and provide good information people will find valuable. But, when you do it right and you do it consistently, I promise it’s worth it.

If you need tips on blogging, make sure you watch our 50 blogging tips video.

Before you make a switch in the technology you use in your agency, look at what you’re currently using. Make sure you’re using everything you can in the system you’ve already been paying for. And if you are and it’s still not meeting your needs, then it’s time to look for the right sys

About the Author

Becky Schroeder

As Chief Marketing Officer, Becky Schroeder is responsible for driving ITC’s overall marketing strategy for the company and its products. Her specialties include creating and documenting processes; establishing metrics for managing those processes; developing content strategy and generating leads; and developing marketing strategy. Becky was named an Elite Woman in Insurance by Insurance Business America in 2016. She has a master’s degree in integrated marketing communication from Emerson College in Boston and a bachelor’s degree in journalism from Texas A&M University. Becky is a big Texas A&M football fan and enjoys cooking, reading and spending time with her husband and their three daughters.

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