When looking for a way to track your book-of-business, the options are endless. I've seen agencies use everything from a high-end CRM system that has all of the bells and whistles to the old-fashioned Rolodex approach and everything in between. Each option has its pros and cons, no doubt.
If you're in the life and health insurance industry you might struggle to find something that fits your specific needs. There are a lot of things that only an agency like yours needs to track. Your search may have lead you to a list of Agency Management Systems, but which one is right for you? Purchasing any business software is a process that takes some time. Start with this guide to help you get started in the right direction: 5 Steps for Selecting an Agency Management System.
You have probably already come across the endless number of generic CRM systems that are available. Some of these are free, and that's definitely enticing to look into. But, will it really be what your life & health agency needs to increase efficiency?
While working with life and health agencies who have gone through the process of switching systems, I’ve consistently heard the following 8 reasons for using an industry-specific Agency Management System over a generic CRM:
"It's easier to track the things that I need to track."
AgencyBloc is specialized and, therefore, has the fields that you need. A lot of times we actually have fields that agencies hadn't thought about tracking before, mainly because they've never had a place to store that information. For example, a generic CRM system doesn't have fields for policy number, renewal date, premium, coverage type, etc.
- "The support team knows my needs."
AgencyBloc's support staff works in your industry. We work with life and health agencies all across the country and know what challenges these agencies have. This makes it easy for us to bridge the gap between what you need and how to solve those needs in AgencyBloc.
- "I can run reports that make sense for my agency."
Any CRM system will give you the ability to run reports, but then you have to filter through those reports to get to what you're looking for. AgencyBloc has pre-filtered reports to save you time. A few reports that clients really enjoy are the Cross Sell report, Commissions Not Received report, and Annualized Premium and Application Submissions report.
- "I don't have to spend time customizing the system to work for my agency."
Since AgencyBloc is designed specifically for the life and health Insurance industry, you don't need to waste time customizing the system to track what you need to track.
- "It's easier to stay organized without custom fields all over."
Having too much customization in your CRM system makes it hard to stay organized. Fields look out of place, messy, and are sometimes impossible to run reports on. AgencyBloc does have the ability to create custom fields but they are not needed nearly as often as they are in generic CRM systems.
- "The available features are specific to what I need."
Commissions Processing and Agent Statement user logins are things that life and health agencies appreciate. They're features that you can't get from a generic CRM.
- "Commissions processing saves us hours of time each month."
Commissions processing is not a feature that most CRM systems have available. We understand that this is one of the biggest challenges of many life and health agencies, so we've simplified the process.
- "I don't have to work around all of the features that I don't need."
One of our design philosophies is to simplify the software so that you're not tripping over features or "bells and whistles" that you don't use. We don't add features that our clients won't use, and we can do this because AgencyBloc is a specialized Agency Management System.
A lot of agencies tell us that they went with a generic CRM and it's not the best solution, but it works. They know that their office would be much more effecient with an Agency Management System that's designed to do what they need, but the thought of migrating data and retraining their staff can be overwhelming. Both of these are legitimate concerns.
Jason Ferguson, CMO of New Horizons Insurance Marketing, and Adam Lewis, president of AgencyBloc, discuss the topic of CRM data migration in this webinar recording from our BlocTalk program. Jason talks about his agency's move from an old system into AgencyBloc and all of the changes that occurred with that move. Adam gives tips and tricks to make the migration process as easy as possible.