An Agency Management System is a CRM plus a whole lot more!
When comparing an agency management system (AMS) and a CRM, the three major differences you'll find in favor of an AMS are:
Generic CRMs can provide a foundation, but without the help of developer or a significant amount of time, the CRM will continue to stay a foundation and never fully function to the level you need. In contrast, a true AMS is built for the specificities of your specific industry niche. Generally, this is either the life and health side or the property and casualty side.
Using an AMS over a CRM can help you have a more efficient, less stress Annual Election Period (AEP) and Open Enrollment (OE). This is due largely to the fact that an AMS is specifically built to handle the various needs of that specific insurance niche. This allows you to be better equipped for the demands and deluge that come with AEP and OE respectively.
Another reason for this is due to how current the CRM software is. Not only is a generic CRM an impedance to productivity and growth, but using legacy software that's 1) not built for your industry and 2) not maintained can be just as much of a hindrance—if not more.
Learn more about the differences between an industry-specific AMS and generic CRM in our brief guide Agency Management System vs. CRM: What you need to know.
The 5 steps to selecting the right agency management system for your agency.
You want to ensure you're making the right decision for your agency when it comes to choosing a new agency management system (AMS) for your agency. This is an important decision and can take some time, but here are the 5 steps we've fleshed out that we urge you to follow while you make your decision.
What to ask during your search.
Adopting a new agency management system (AMS) is an exciting and slightly scary adventure, especially when you're trying to find the right one for your agency. One of the first steps to take is to define your needs, wants, and goals. A need is what you must have in order to function at your current level and a want is something that you would like to have to help propel your agency into the future. However, you must have your goals identified and fleshed out beforehand to help you determine what tools will be necessary with your new AMS. Download this checklist to help you define what your needs and wants will be.
The next step is knowing what to ask. This is a hard step, but here are three areas we've defined to help you understand what you need to ask, what you should expect for answers, and what you should be wary of.
Data migration is the act of bringing all of your data point (client, prospect, lead, and agent information) over from your current system to your new AMS. The migration itself can vary widely from being rather easy to being an absolute headache. This mainly stems from one specific question: is your data still 100% yours?
Security is a hot button topic and for good reason. No matter which AMS you choose, the fact of the matter is they'll be housing all of your data, your clients' sensitive information, everything. They will be housing your livelihood. For that reason, you want to ensure you're partnering with the right AMS to ensure your data and your clients' information remain safe and secure.
Who The Vendor Is
You want to make sure your new AMS will help promote your day-to-day processes and productivity. Ask questions to get the full scope of what the software offers and who you are partnering with to ensure you're making the right decision. Remember, you're investing in a partner, not just purchasing a product.
Ready for an agency management system in your agency?
AgencyBloc is an agency management system (AMS) that helps life and health insurance agencies grow their business by organizing and automating their operations using a combination of an industry-specific CRM, commissions processing, and integrated business and marketing automation.