When it comes to identifying the differences, the one main thing is this: an agency management system is a CRM, plus a whole lot more.
There are three significant ways that an AMS generally suits an insurance agency better than a CRM:
The biggest benefit of an agency management system is that it’s already built for your specific industry niche. For example, AgencyBloc is built to suit the needs of the life and health insurance industry.
A CRM is a generic system built to adapt to the needs of many different industries. It may have many capabilities, but a significant effort may be needed to customize the software to fit your needs.
Those customizations and additional capabilities (i.e., a commissions processing platform) can come at a hefty price. One downside to making so many customizations is that it’s not guaranteed the software or customizations will be supported indefinitely. When updates are made to the software, it's possible the customizations you built won't be supported any longer, forcing you to recreate them again.
Additionally, maintaining the customizations you create can be costly and time-consuming. They can also create a security risk. Operating on outdated software could leave you vulnerable to security threats. To learn more, read our blog: 4 Downfalls of Generic, Overly Customized Software.
Lastly, when a system is specific to your industry, it can be easier to train new employees. If they’re familiar with the industry and the software is built for that specific industry’s needs, those ideas and workflows just make sense.
An AMS provides many tools beyond contact tracking. It can help you:
- Manage contacts (leads, prospects, clients)
- Manage groups, enrollments, and elections
- Track agents, agencies, and downlines
- Track policies
- Process commissions
- Send mass and targeted emails
- Automate workflow
- Manage tasks
- Analyze your business performance
- Run industry-specific reports
- Manage your sales process
Totality also means it’s all in one system.
With a CRM, you may have to run 2-3 different systems concurrently—like running a CRM and a commissions-specific software in parallel. An AMS has all of those capabilities in one software plus integrations.
An agency management system like AgencyBloc helps you work smarter, not harder, to achieve more in your day.
The improved productivity comes from:
- Organized records and ease of locating those records
- Consistent processes implemented throughout your agency
- Improved task management and internal communication about what needs to be done and when
Additionally, workflow automation tools, like AgencyBloc’s Automated Workflow, can help you stay on task and in touch with your contacts. Using Automated Workflow in AgencyBloc, you can:
- Send timely communications to clients (i.e., Happy Birthday or upcoming policy renewal notices)
- Create speed-to-contact with new leads
- Nurture existing leads/prospects
- Ensure agent paperwork stays updated and accurate
- Create consistent, proven processes in your agency you can rely on to help you achieve your goals
Ready to move to a new AMS?
Schedule a live, 1-on-1 demo with one of our sales reps today to see how AgencyBloc could work for you!