By Clare DeNicola, President & CEO, IVANS, Inc.
Insurance agencies and brokers rely on technology to maintain information about their customers, document transactions with carriers and collect data intelligence for marketing purposes. The accuracy of data in these systems has improved significantly because of automated agency-carrier communications, but its value is limited if agents can only streamline a piece of their workflow. Quoting a policy is a classic example of this problem. Agents can get quotes electronically, but they must often manually key data into several different carrier web portals, each with its own unique quoting process.
Fortunately, much of the data shared between carriers and agents can be done electronically and in a manner consistent across multiple companies. As agents look for opportunities to build customer relationships and effectively compete against business done online, using download and real-time automation throughout the agency workflow–widely referred to in the insurance industry as a "round-trip"–can make a significant difference in an agency's ability to profitably serve customers and quickly respond to new business.
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