Building relationships is at the insurance industry's core – relationships with clients, the community, carriers, and affiliate businesses. Focusing on relationship building helps retain existing clients, bring in new business, and sustain essential business partnerships. But as every insurance agent knows, operational tasks can absorb a significant amount of your time and that of your employees – time that could be better spent interfacing with clients, making new connections, and soliciting new business.
Utilizing an Agency Management System (AMS) like AMS360 streamlines many agencies' operational processes, but to take it one step further, partnering with an Insurance Process Outsourcing company like Insuserve-1 offers the opportunity to contract out standard processes, creating even greater efficiency.
The Benefits of AMS360
As one of the most commonly used agency management systems in the marketplace, AMS360 brings CRM, database, document management, accounting, and report capabilities into one comprehensive platform. Customer information is at your team’s fingertips, documents are easily stored and accessed, data input is standardized across your organization, and robust accounting and report capabilities allow you to evaluate your business’s strengths and opportunities.
Outsourcing Processing Tasks Enhances the Benefits of your AMS.
Agencies import and export enormous amounts of information daily. Sound agency management systems like AMS360 provide mechanisms to digitally organize incoming documents such as policies and endorsements, carrier notifications, and correspondence. With many carriers, importing these documents can happen automatically via daily downloads, but not always. Insuserve-1’s insurance processing professionals can manage these daily downloads, ensuring suspense items are created and assigned to the appropriate in-house personnel. Processors can also complete downloads from carriers that do not interface directly with AMS360 and index those documents appropriately.
Outsourced processors (Insurance virtual assistants) can also set up new clients and carriers in AMS360, issue Certificates of Insurance, check policies and endorsements, order loss runs and motor vehicle records, and perform various other tasks. Insuserve-1’s flexible service model means new tasks and workflows can be added as needed.
When skilled agency employees are freed from the responsibility of completing non-customer-facing, routine, but often time-consuming tasks, they can focus their attention on income-producing tasks. Insuserve-1’s processors integrate seamlessly with your agency, allowing your team to delegate rather than “do it all.”
Accurate and Consistent Data Entry is Critical to Efficiency
Of course, any AMS's usefulness depends entirely on the accuracy, comprehensiveness, and consistency of the data entered in the AMS. Outsourced processing professionals are responsible for only specific tasks and do not deal with competing demands on time, and attention like agency employees do. This allows Insuserv-1 processors to complete tasks quickly and with a high degree of accuracy. Outsourced processors follow the same policies and procedures you set forth for your internal employees – that way, the data in your AMS is consistent.
Data Security is Critical
Partnering with an Insurance Process Outsourcing company requires providing access to your AMS and affiliated carrier websites. Your outsourcing partner must take data security as seriously as you do. Insuserve-1 utilizes stringent, multi-layered security protocols that meet the highest industry standards. AMS360 allows you to provide limited permission to your processors so they cannot access sensitive information.
Automation and Outsourcing Drive Growth and Increase Profitability
In conclusion, AMS360’s paperless workflows, automated processes, and centralized information management save person-hours, which translates to dollars. Similarly, partnering with an Insurance Process Outsourcing company like Insuserve-1 allows you to delegate essential but not necessarily income-producing tasks. This lets you and your employees return to the core of your business – building relationships, driving growth, and increasing profitability.
Reach out to Insuserve-1 - Insurance back office services today so we can show you how your business can benefit.