7 Features Insurance Agency Software Absolutely Must Include

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“The times they are a-changing”. Bob Dylan has been singing it since the sixties, but it’s more relevant now than ever before due to some eye-popping changes in technology. 

Software and management technology can help your insurance agency stay competitive and pertinent in today’s ever-changing society.

You’re in insurance. Therefore you know how important it is to prepare for those “what ifs” life can throw at you. Insurance agency software can provide you with many features that help facilitate the moving parts of your agency operations. 

We compiled a list of seven features that should absolutely be included in the software you use. If your software doesn’t have all seven features, it’s time for a switch

1. Security and Safety  

First and foremost, the safety of your clients’ data is absolutely essential. This data is invaluable to both you and your client, and is nothing to be trifled with. Maybe you’ve been storing it alphabetically in a black metal filing cabinet, but while turning that little silver key allows you to avoid online hackers, you know this isn’t the most efficient or reliable option.

woman holding a piece of paper talking to someoneSince there’s a vast amount of software built specifically for insurance agencies just like yours, make sure the software you pick provides safe and secure access to this data.

In addition, insist that the software gives you complete ownership and control of the data. Some platforms actually own the data themselves and are legally able to then sell it for their own profit! Yikes.

2. Ease of Use

You know how phone bills, using confusing websites, or even driving through roundabouts are all things that take a little too much time getting used to? Well, you certainly don’t want your business spending any unnecessary time adjusting to new software.

Thankfully, insurance software is designed for the specific needs of insurance agencies and brokerages, so it should automatically be intuitive and simple for you to use.

If you’re switching, choose a new platform that allows for very little transition downtime, as well as a user-friendly experience throughout its implementation. This includes training your current (and future) staff how to use the new software.

3. Versatility

This might seem like a no-brainer; but your software needs to handle what your agency handles. 

You deal with life insurance, annuities, and casualty insurance, so you want software that specializes in these niche markets. And since you intend to start offering property and renter’s insurance, choose software that can handle all of it.

Remind yourself of your long-term goals. You’re changing to digital for a reason! Versatile software will be able to process your old data and still allow for scalability and growth.

The new software needs to work with both your existing and future partners and carriers. Just think what the future holds with a versatile software platform. 

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4. Data Storage and Deployment

Whether your clients are high maintenance or not, you have to collect data on them, and that data piles up. Your metal filing cabinet is a lot bigger than the one you started with years ago, and it might even be on the verge of overflowing.

Fortunately, insurance agency management platforms provide storage and deployment options for all this data and more. However, this is where you have a choice; depending on your preferences you can have this information on-premise (stored and maintained on company servers) or in the cloud (stored and maintained on vendor servers, then accessed through the internet).

There are advantages to both, and while on-premise is probably the most comparable to your trusty filing cabinet, you might find the perks of cloud-based storage more appropriate for the long run.

5. Analytics and Reports

What’s the point of storing all that data if it’s not organized and working for you? Manual retrievals should be a thing of the past, since your software should have accessible data trees and detailed reporting features. 

Your insurance software must be able to compile your data, and analyze it to identify risks, fraud, policy performance, and even your agency’s revenue. Then it should give automatic detailed reports to help you understand your agency’s performance and progress.

Essentially, imagine the software as tiny computerized accountants working round the clock just for you and your agency.

6. Billing and Payment Processing

As an insurance provider you’re offering needed protections for your customers, but you need your customers’ payments in order to keep your lights on. This is why the insurance agency software you choose must be able to manage and process claims and payments accurately and securely.

Choose software that can create and send invoices, process payments, and even determine and distribute commissions amongst your staff.

7. Customer Relations Management 

Automating all these other features gives you more time to focus on the most important aspect of your agency; your customers. Your agency software should help manage customer relations so you can focus on that personal touch of yours unique to your agency and the customers you serve.

To continue growing your relationships with your policyholders, your insurance agency software should offer online portals and mobile-friendly applications. These allow your policyholders to communicate with you and your agents, so you’re able to quickly and easily assess their situations, discuss policies, and answer any questions they might have.

Our proprietary Eclipse Insurance Agency Management System has all of the above features and more, and we’re happy to show you how it can help you and your agency take off. 


Please contact us if there are any questions that you might have regarding these features or anything else about agency management software. 

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Topics: Software Features | Independent Insurance Agency