Are you utilizing an AMS/CRM to streamline your agency’s operations, increase your team’s productivity and grow your revenue?

When it comes to searching for an Agency Management System (AMS) or Customer Relationship Management (CRM) system, you can quickly become overwhelmed by all the solutions that are offered. 

Your business is built on building meaningful customer relationships and retaining them for maximum profitability, so it is crucial to find systems that will fit your business model and allow you to gain a significant return on your short-term and long-term investment. 

When looking for the right systems solution partner, it is best to prioritize the features that are important to your agency’s growth objectives.

What is an Agency Management System?

An agency management system is a software-as-a-service (SaaS) program that assists insurance agencies in organizing and running their business more efficiently.

An AMS program can assist your business with operations, reporting, commissions, sales metrics, and more. These programs may also have some marketing capabilities, but typically nothing too in-depth. An AMS system will improve the effectiveness of your agency and help you identify which day-to-day processes are promoting or hindering your business growth.

What is a Customer Relationship Management System?

A customer relationship management system is software that connects all of your customer data to one hub. This lets you nurture clients and leads, speed up your communication process, and help you protect your customer’s data.  

Utilizing a CRM system allows you to organize and track your sales funnel, and to keep track of every customer interaction that you or your team have. CRM programs also typically have advanced marketing and automation capabilities to assist in your business development and outreach.  

What are the benefits of using an AMS/CRM?

Just like insurance sales, a CRM system is customer-centric. With an efficient CRM system in place, you can automate your agency’s day-to-day operations and focus on the things that matter: customer care, retention, and revenue.

With an effective AMS system you will have access to analytical and reporting features, that will allow you to monitor your employees, customer base, day to day operations, and push raw data out in understandable metrics to help you run your business more effectively.

Data and Reporting

Gain insights into your customer base and discover new ways to better serve your clients. Analyze your data to pinpoint customer service issues and determine the best resolutions for adapting to any negative common trends. Additionally, track what creates customer best practices and double down on that activity, conduct training, and reward those that show quality performance and overall employee improvement.  

Collecting and analyzing customer data will help you truly understand your customers and anticipate their needs for higher retention, and customer satisfaction, alongside monitoring your own internal activity.  

Lead Tracking

Lead tracking is a key practice to implement to increase lead generation and conversion rates for your company. Knowing where your leads come from and the actions they take while they progress through the sales funnel will provide you with a better understanding of your audience and increase your agency’s closing rates and overall profits.  Lead disposition data is the key to maximizing your lead ROI.

Positive Customer Service Experiences

Keeping accurate records of all customer interactions (emails, calls, texts, and even life events) will assist your team in providing an excellent customer service experience. Collective data brings whoever is helping your client up to speed on any interactions both positive and negative, that a customer has previously had with your company, allowing you to provide streamlined quality service. Top-notch customer service is a definitive and measurable growth aspect of your business that will truly set you apart from any competition.

Marketing Capabilities

Increase your marketing and cross-promotional advertising with CRM automation and move leads through your sales funnel, retain more business and obtain more referrals than ever before. A CRM system allows you to build out robust customer journeys and provides each customer with a curated unique experience. Additionally, you can automate your retention and cross-promotional marketing strategies on action-based triggers, saving your agency valuable time and money.

What are the pros and cons of each CRM/AMS program?

An AMS or CRM system is a huge investment of time and money for your agency, so it is essential to select the right program upfront.  Choosing the wrong systems will cost you time, money, and worse yet customer relationships and opportunity.   

We researched several CRM and AMS options that exist in the Insurance Tech market-space and found the top features, benefits, and drawbacks of each so you can make an informed decision.