Home » Centralize: 5 must have features in your insurance agency management software

Centralize: 5 must have features in your insurance agency management software

by Steven Brown

In order to operate efficiently, insurance agencies must streamline processes and digitize nearly every aspect of their business. This requires the right software.

A high functioning insurance agency management software is essential for a modern-day agency to compete in today’s business landscape. Good Insurance agency management software like Equisoft/Centralize  are designed to help agents and distributors handle all of their day-to-day operations more efficiently.

Undertaking a project as such requires a lot of research in order to find the most suitable software for your company. Below is a list of the 5 core functionalities to look out for when shopping for an insurance agency management software:

  1. Centralized data

The insurance agency management software you choose should have a centralized data feed. This is a feature that fully integrates carrier and paramedical data points into one solution. A major game changer, a centralized data feed could mean the difference between spending hours tracking down policies across 6 or 7 carrier websites, to finding a client’s full policy history with a few simple clicks.

  • Task Management

A comprehensive task management functionality is a key requirement of a modern insurance agency management system. A task management feature allows you to track advisor activities and generate reports to effectively, measure productivity, as well as schedule follow-up on activities. In turn, this allows the advisor to focus on client-facing activities and enhances customer engagement.

For example, in the scenario that an advisor submits an insurance application which the carrier deems requires additional medical work, the insurance agency management system will create a follow up task for the advisor to convey that to the client. This streamlines communication and optimizes both the advisor’s and carrier’s time.

  • Automatic follow-up activity

A fully integrated insurance agency management system connects parameds and carriers through data feeds to advance the underwriting process and keep data current.

Agency management software that has a built-in follow-up activity feature is invaluable in that as it speeds up processes that can otherwise be longwinded and take much more time to complete. For example, if an insurance carrier were to require extra documentation before paying an advisor, this feature would automatically create a task for a case manager and email the advisor. The advisor would be able to view the task directly from their portal and settle the issue in less time.

  • Commission Management

Managing commissions using manual processes and spreadsheets is a nightmare.  Instead of spending precious time going back and forth trying to figure out who gets paid what, why not opt for an agency management system that will do the grunt work for you?

Agency management software that includes a commission management module can easily handle complex hierarchy structures, process payouts, identify discrepancies between expected & received compensation and support all custom compensation structures.

  • Automatic Rate Updates

A unique agency management system feature that would give your organization a competitive edge is automatic rate updates. Insurance carriers change their rates and products often enough, that it’s difficult to stay on top of them if you’re working manually. Instead of having to physically track and adjust rates as they change, look for an agency management system that will update in real-time. This solution eliminates human error and will significantly increase efficiency.


Thorough research and knowledge of the features that are available is crucial. It’s important to choose an  Insurance Agency Management System that will automate as much as possible and allow your agency to expand without complications down the line. Look for a software will give your organization the most control over the data and processes that power your business.

­­­Source: Equisoft.com

Related Posts

Logo businesspara.com

Businesspara is an online webpage that provides business news, tech, telecom, digital marketing, auto news, and website reviews around World.

Contact us: [email protected]

@2022 – Businesspara – Designed by Techager Team