AMS Features

Managing General Agencies (MGA's), Managing General Underwriters (MGU's),Wholesalers, and Retail Insurance Agencies have several choices for insurance agency management systems in today's marketplace. CRM, paper files, multiple systems, and many more are a few way to consider.

The most essential and basic thing is to be able to log information for your clients with your insurance agency software. You want to know their basic information such as name, address, phone, coverage parts, billing, etc, You may think a CRM can handle your needs to fit your budget. However, a CRM is only a small fraction of a total agency’s basic requirements. You have Acords, you have marketplace applications, endorsements, email, follow ups, invoicing, accounting, retention goals, licensing, policies and claims. A single-entry comprehensive Agency Management System is the solution. Policylinx Agency Management System will help you grow and retain your book of business in all these areas.

This article will focus on the components of agency management software for insurance agents and managing general agencies.

Agency management systems are a subset of data management software. Techopedia defines data management as: “Data management refers to an organization’s management of information and data for secure and structured access and storage.” When data management software is built for insurance agencies it’s called an agency management system. But at the end of the day, it’s a data management system.

At the end of the day, the right agency management system brings organization to your independent insurance agency with tasks, sales, agent activities, policies, claims and accounting. Did you know that the use of an Agency Management System showed a return of 5 times the expense of such a system? The returns is paid in increased retention, improved productivity that results in lower staff costs and ability to produce more accounts and grow your commission.

Agent dashboards: See all of your business with a quick glance at one page. Search for an account, filter notes by keyword, locate your diaries and follow-ups, and quickly navigate to the detail of any policy or claim.

Document management: An AMS organizes all files, documents, images, forms, and emails into a single interface with quick search and organization similar to a file, folder system but with speed and accuracy and without lost files and deterioration of paper. Without document

management, countless hours are spent searching for paper, not to mention you have to be on location to even retrieve them.

Policy and Commission Downloads: Why re-key the same information you’ve already put into the Carrier’s website? With downloads you not only pull in the basic client insured information, you get detail policy data down to the limits and deductibles for each policy.

MGA’s and MGU’s: If you’re operating a Managing General Agency, you’ll need key features of our Managing General Agency System including broker bill, net and gross, broker statements, and reporting whether it be end of month bordereau or statistical reporting to NISS or ISO. All are capabilities of Nexus Linx and the Policylinx system.

Customer service is quick, seamless and nearly effortless when client data is properly collected and maintained, allowing you to quickly search client and policy information or send certificates or ID cards with a quick email from the system.

Accounting and reporting for the independent agent accounting and reporting can be time-consuming endeavors. With Policylinx you can quickly and easily invoice, track commissions, pay companies and sub producers, monitor sales and reconcile carrier sweeps across multiple agencies. Notes, records and detailed account histories are timestamped and accessible from a single searchable location, improving accuracy and providing ultimate efficiency in real-time reporting and analysis.

Compliance management ensures that issued policies conform to legal and industry regulations on the local, state and national level, and helps ensure that documents are secured, backed up and prepared for any audits or potential lawsuits.

The benefits of accessing all your agency’s information from a single platform simply cannot be overstated. The right agency management tool should be simple, efficient, and easy enough for anyone to understand. It should be scalable to meet the needs of your growing agency. It should be customizable when needed and support when you have questions.