The 5 essential tools to improve insurance agent & broker productivity
By using these tools, you will keep your work time highly productive.
Managing your productivity is important for every business, and for insurance agents and brokers, it’s crucial. If you’re worrying about where a contract or other paperwork is, you’re likely hurting your bottom line.
It might seem counterintuitive, but one of the most critical aspects of productivity is to stay focused on the big picture. When you try and manage every single detail, it’s easy to get lost in the minutiae. Some details — like the exact shade of green on a business card, or the precise font in a document — aren’t essential.
Related: 17 ways for insurance agents to get more work done
Thankfully, technology exists that can keep you organized while you remain focused on what’s vital. You’ll stay productive, ready to move on to the next project. Here are five essential tools to keep you organized:
1. Cloud file management
There are a number of different options for managing files in the cloud. Our favorites are Dropbox and Google Drive. You can maintain a certain amount of storage for free and pay for more space, making this an ideal situation as your business grows. Dropbox is a great place to store documents and share them with clients or colleagues. Better yet, you can use files on the go. You can quickly pull up a document on a tablet or laptop to reference policies or get details about a particular vendor. You can also store documents that your clients may need to complete or sign.
Google Drive is an ideal place to work on collaborative documents, maintain schedules, or create spreadsheets. These can be shared among your coworkers, with tracked changes, and the programs are full-featured.
In addition, Microsoft Office offers basic versions of its suite online. However, to access real collaboration tools, you have to use desktop versions, and you can’t make changes in real time.
2. Interoffice communication
There’s a certain benefit to being able to bump into your coworkers, or walk over to someone else’s desk to ask a question or respond to a memo. But if some people are regularly out of the office, or work remotely, those conversations won’t happen face to face.
Chat-based communication tools are a game changer. We love Slack because of its robust opportunities to create public and private channels, availability on both desktop and mobile devices, and ability to tag users into conversations with ease. Slack is freemium, with robust features at the free level; premium users get options that may be necessary for bigger businesses, such as video conference calling.
3. Task management
Whether you’re working on your own or sharing tasks among multiple people in your office, you need to keep those tasks organized. Some tasks need to be touched by multiple people. For example, website copy might be drafted by a copywriter, reviewed by an editor, and posted by a web designer or content manager.
A good project management system will allow the task to be passed from person to person as each step is completed. We recommend Trello as a great option. Its board, list and card options let you organize each project as is most appropriate.
4. Electronic document signatures
Fewer offices are using paper every day. Printing is expensive, storing paper documents is costly, and keeping paper files secure is challenging. Using electronic signatures enables clients to sign documents right in front of you. Then you can email them a copy of the document. If they’d prefer, you can print out a signed copy and send it to them from your office, giving them the responsibility of maintaining the copy.
HelloSign is a superb tool. It emails the client to let them know a signature is required; once you and the client have both signed the document, the form is then emailed to both of you. Your client never has to pay anything or even sign up; you get great freemium options depending on the plan you need.
Related: Why insurers need digital signatures, document management
5. Robust online accounting software
Forget ledger books in the office; the modern business does all of its accounting online. High-quality accounting programs can pull information from your business accounts, and allow you to sort deductions and payments into appropriate accounting categories. We love FreshBooks. You can even use your smartphone to take a picture of your bill or receipt and have it electronically stored. You can also invoice any clients directly from the program.
When you’re running your own business as so many agents and brokers do, every minute counts. It’s important to stay on top of your time management so you’re working efficiently. The Bureau of Labor Statistics reports that we work only about three hours out of every eight. Agents and brokers may spend time chatting with coworkers about unrelated tasks, driving from place to place, checking social media, or getting coffee or tea. By using tools like those we mentioned, you will keep your work time highly productive.
Related: 17 awesome business tools you need to be using
Sam Meenasian has built two successful insurance companies during a nearly-25-year business career. He co-founded and serves as Vice President of Sales and Marketing Operations of USA Business Insurance and BISU Insurance, which have served thousands of businesses.