Pause before closing!
November 15, 2022

New Software for Insurance Brokers to Grow In 2023

💡

Collect dec pages upfront, write more new policies, and sell more multi-line policies. Create a free InsurGrid account in 60 seconds.

Tools and software help insurance brokers streamline services and better serve their customers. With the speed of technological advancements, the software you used five years ago won't be the most efficient software you can use today.

This is even more true in the insurance industry, a sector that has been slow to adopt modern technology. However, many new insurance agent tools and software offerings can eliminate tedious manual tasks and improve how you run your agency.

Whether it's time for a software update or you're new to insurance software and the capabilities it can bring to your insurance agency, this guide can help you find the best new tools and software to grow in 2023 and beyond.

What Is Insurance Software?

Insurance agency software improves an agency's internal and customer-facing processes.

Insurance software is typically equipped with multiple capabilities to help run various aspects of your business. Some of the most common types of software used by insurance brokers include insurance agency management software, customer relationship management (CRM) software, and data collection and quoting software.

Benefits of Insurance Software

Processes are typically document-heavy, precise, and require specific regulations. As a result, insurance processes are often time-consuming and prone to human error.

Various types of insurance software work differently to improve agency processes and help insurance brokers work more efficiently. Integrating multiple software types within your agency can streamline internal processes, communications, and customer interactions.

For example, an agency management system can manage financials, internal communications, and daily tasks. When integrated with your agency workflows, the system can handle routine operations like payroll and billing and increase employee productivity.

A CRM helps improve customer service when onboarding customers, completing routine activities and filing claims. Data collection and quoting software automates collecting essential information to provide clients with accurate quotes quickly.

When insurance software systems streamline agency processes, insurance agents can experience these benefits:

  • Improved efficiency and productivity
  • Reduced overall costs
  • Improved customer service
  • Decreased human error
  • Compliance management
  • Improved internal communication with agents and carriers

How Insurance Brokers Use Software to Grow

Insurance agencies constantly experience growth and change. As the needs of consumers and insurance requirements change, customer flow increases, and insurance agents take on more tasks. Yet, it would be impossible to keep your insurance agency afloat without modern insurance marketing techniques and lead generation.

Insurance software uses data and analytics to help agents improve marketing techniques. Certain types of software can also prioritize leads and automate communications.

Consider these ways different software types help insurance brokers grow their book of business:

  • Data collection and quoting software automates the information-gathering process to provide potential clients with accurate quotes more quickly. For instance, InsurGrid allows agents to collect dec pages from a potential customer using a single link. The faster process increases customer conversions and gives agents more time to interact with customers.
  • CRM software connects teams, distribution channels, call centers, and agents to a unified portal. Agents improve customer service by streamlining processes and automating many customer communications. This improved customer service can result in reviews and recommendations that help agents grow their practice.
  • Claims processing software automates tasks to help insurers manage and evaluate claims. The software speeds up the claims process and improves communication with the customer throughout the process. It also allows agents to avoid mistakes. As a result, customer satisfaction is improved, and agents have more time to serve additional clients.

Key Factors to Consider When Choosing Software for Your Insurance Brokers

Investing in new technology can be intimidating, whether updating your current software or seeking out insurance agent tools you've never used. To choose the best software, it's essential to consider these key factors when narrowing down your insurance software choices.

Features

When choosing software for your insurance agency, you'll need to consider features that address the specific problems you're trying to solve. For instance, CRM software buyers typically seek improved client communication, interaction tracking, and schedule and reminder creation.

When seeking insurance broker software as opposed to general-purpose software, it's a good idea to look for these features:

  • Policy information management
  • Inclusion of a mobile app
  • Ensured compliance with rules and regulations
  • Marketing automation
  • Claims management
  • Automation capabilities
  • Integration with industry-specific apps and resources like quote engines

Price

An investment in cheap software can mean it doesn't have the features you need or is lacking in other ways (like security). When considering the price of new software, you'll need to strike a balance to stay within your budget and get a substantial ROI.

It's also important to remember that many software offerings promote agency growth, making it important to consider how pricing scales as you grow. You may be surprised that some SaaS offerings begin with a free trial and comparatively low price and scale considerably as you grow.

Installation and Continued Support

For insurance software to provide the maximum benefit level, it will likely need to be integrated with your existing processes and infrastructure to create a seamless system. Professional installation can help the integration go smoothly.

It's a good idea to understand how long the installation process will take and whether it will impact your business processes. Beyond the installation phase, it's important to consider the support you'll have in case problems arise. Some types of software also require additional infrastructure and include set-up costs that can significantly impact your investment.

Best Software for P&C Insurance Brokers

Property and casualty (P&C) insurance protects you from financial losses due to risks such as accidents, fires, theft, and weather damage. In many cases, coverage like auto insurance and home insurance includes liability with provisions for medical expenses.

P&C insurance software helps with the broad demands of the many categories within P&C insurance.

ZyWave

A next-gen cloud-based agency management system, ZyWave helps insurance agencies drive growth by streamlining and automating agency processes. Features include policy and billing management, producer management, agency financials, and marketing. The system uses real-time analytics that allows you to measure agency performance and improve profitability.

Pros

  • Scalable and configurable to adapt to the needs of any size agency
  • A wide range of features for streamlining processes
  • Highly efficient AMS that helps agencies save time and money

Cons

  • The user interface can be challenging for some users
  • Might require professional consulting for setup

Pricing

No free trial is available. Paid plans are customized to agency needs and require a consultation to determine pricing.

Tips

  • Utilize e-sign capabilities in the digital enrollment feature to expedite onboarding
  • Use included digital marketing tools to automate personalized marketing methods

InsurGrid

InsurGrid gives agents a personalized platform to collect client information, such as birth date, driver's license information, and policy declaration pages. Instead of sitting on long calls or playing email tag, agents can have the information they need automatically delivered in seconds. The software works alongside other company solutions and can be used by agencies of all sizes.

Pros

  • Dec page collection by simply sending a link to clients
  • The process can be completed in seconds
  • Improve customer experience
  • Increase close rates

Cons

  • There is no free version after the initial trial
  • Only supports P&C products

Pricing

Start with a free trial. Paid plans begin at $99 per month... They also offer an annual deal which saves insurance agents 20% month over month.

Tips

  • Choose between email, text, or QR code to allow customers to work with the platform of their choice
  • Utilize templates that help you engage with customers
  • Send automated reminders to clients and track them on the user-friendly dashboard

Guidewire

A CRM solution that spans key functional areas in insurance, including underwriting and policy administration, claims management, and billing, Guidewire's focus includes various incorporated features and has over 90 marketplace partners. It combines digital, core analytics, and AI to deliver cloud service solutions to P&C insurance brokers in mid-market and enterprise agencies.

Pros

  • Free for life option has a variety of useful features
  • Integrated mobile app
  • User-friendly dashboard for increased adoption among brokers

Cons

  • Limited functions on the free plan
  • No third-party integration with the free plan

Pricing

A free-for-life plan is available. The more advanced premium plans start a $29 per user per month, billed annually after a 21-day free trial.

Tips

  • Consider trying the Freshdesk free plan to utilize features and determine whether you need a more robust premium plan
  • Utilize this CRM if you're seeking an option that focuses heavily on sales
  • Organize groups to help agents focus on specific products or services and avoid distractions that aren't relevant to them

Best Free Software for Insurance Brokers

Modern insurance software is cloud-based Software as a Service (SaaS). Many types of insurance software have a free trial to allow you to try out the features. While free versions typically lack some features and benefits compared to paid versions, they can provide the necessary capabilities to improve agency processes when you're on a shoestring budget. Each software option provides agencies with a free version that extends beyond the typical trial period.

Freshworks

Freshworks provides one of the most comprehensive free options for a CRM solution that offers an extensive set of features without upgrading to the paid model. The powerful software offers lead scoring, a visual sales pipeline, automatic sales reports, event tracking, and a customer support portal. With a user interface that's easy to learn and use, this software provides an attractive and functional starting point for insurance agencies with a small budget.

Pros

  • Includes more features than most free options
  • Easy to use
  • Offers AI-based lead prioritization

Cons

  • No third-party integration with free version
  • Limited tech support

Pricing

A fully free plan is available. Paid plans start at $19 per user per month, billed annually.

Tips

  • Utilize the profile enrichment feature to capture data from prospects' social profiles and other public information
  • Set up a team inbox to improve internal communication

TigerLab

A cloud-based AMS, Tigerlab offers a robust, modular, and unique agency management solution that helps agency professionals manage agency operations more effectively. Top features include configuring modules to meet agency-specific business processes and full business process automation capabilities.

Pros

  • Real-time visibility in agency data
  • Customization options to fit your agency's needs
  • High-level reporting and analytics to measure agency performance

Cons

  • Not ideal for small businesses
  • Pricey compared to other AMS

Pricing

A free trial is available, and paid plans require a consultation to determine custom pricing.

Tips

  • Utilize the free trial to determine if TigerLab is right for your agency before requesting a paid plan
  • Take advantage of the mobile app for field agents
💡

Want to grow your insurance agency, but unsure how to start? Learn how you can 3X your book of business with our 5-Point Personal Lines Growth Strategy Guide.

Best Software for Insurance Brokers Working in Small Businesses

Small insurance agencies face numerous challenges. Insurance startups and small agencies are basically unknown. As a result, these agencies need to undertake extensive marketing efforts to attract target customers.

Small business budgets are often extremely limited, and these companies need scalable options that evolve with their growth. These software options target many challenges small agencies face and are scalable for growth.

Zoho (CRM)

A full-featured entry-level CRM, Zoho is built around the needs of small businesses. The software provides seamless integration options and excellent customization features to automate workflows and improve processes. Insurance-specific features make accessing all customer information in a unified location easy.

Pros

  • Multiple pricing plans based on business needs
  • Convenient automation features
  • Includes a mobile app

Cons

  • Best features found only on top-tier pricing
  • Installation can be pricey
  • General purpose CRM, not specifically designed for the insurance industry

Pricing

A free trial is available, and paid plans start at $14 per month per user, billed annually.

Tips

  • The CRM is most effective when installed professionally
  • Use the Campaigns feature to create multi-page layouts and custom forms that offer complete visibility into every policy a customer is signed up for

EZLynx

A cloud-based AMS that includes distinctive CRM features, EZLynx is a solution that helps streamline back-office management processes and improve customer relationships. Top features include the ability to bundle products and real-time home and auto quotes.

Pros

  • Easy to use
  • Suitable for all agency sizes
  • Can eliminate the need for a CRM for some agencies

Cons

  • Limited integration
  • Can get pricey to include all features

Pricing

A free trial is available, and paid plans start as low as $0.01 per user per month.

Tips

Consider EZLynx if you're seeking an all-in-one system for AMS and CRM
Use reporting tools to analyze the status of client accounts and streamline cross-selling and renewals

InsurGrid

As mentioned before, InsurGrid makes collecting vital information from clients easy. There’s no need for long phone calls or endless email threads. Agencies of all sizes can use this personalized platform.

Pros

  • Dec page collection by simply sending a link to clients
  • The process can be completed in seconds
  • Improve customer experience
  • Increase close rates

Cons

  • There is no free version after the initial trial
  • Only supports P&C products

Pricing

Start with a free trial. Paid plans begin at $99 per month. They also offer an annual plan which saves insurance agents 20% month over month.

Tips

  • Choose between email, text, or QR code to allow customers to work with the platform of their choice
  • Utilize templates that help you engage with customers
  • Send automated reminders to clients and track them on the user-friendly dashboard

Best Software for Insurance Brokers Working in Mid-Market

Often, mid sized agencies need to upgrade their software to keep up with rapid growth requirements. As firms increase their client base, more agents are hired to keep up with the requirements of a larger agency.

Mid-market agencies need tools to manage a larger group of agents. Tools and software offerings for these companies also need room for ongoing growth. These software solutions are great for supplying added tools for process management while maintaining scalability for continued growth.

Applied Epic

A technologically advanced, flexible, and comprehensive agency management system, Applied Epic offers an intuitive, easy-to-use agency management system that helps insurance agency managers more effectively govern customer interactions and automate processes and sales and financial accounting.

Pros

  • Customizable
  • Embedded business intelligence with robust analytics
  • Easy to use

Cons

  • Hard to correct errors
  • Challenging to navigate
  • Not a monthly service, so start-up costs are prohibitive

Pricing

A one-time cost of $1,000 per agent.

Tips

  • Take the time to research and ensure this solution is right for your agency before making the considerable upfront investment
  • Integrate with existing agency software to streamline workflows
  • Customize the dashboard to match your agency's needs

Insly

A highly effective CRM for insurance agents, Insly simplifies policy administration, claims management, and accounting. Top features include automated alerts and a sales pipeline that lets you manage customer details, view active policies, check installment schedules, and track renewals.

Pros

  • User-friendly dashboard for business reports
  • Automates non-revenue generating accounting function
  • Cloud availability makes it accessible everywhere

Cons

  • Customization features can be challenging

Pricing

Schedule a consultation to get accurate pricing.

Tips

  • Integrate software with existing solutions and workflows for improved efficiency
  • Utilize the mobile app for field agents

Guidewire InsuranceSuite

Guidewire is a provider of core system software to the global P&C insurance industry. The CRM solution spans key functional areas in insurance, including underwriting and policy administration, claims management, and billing. 64% of users are mid-market insurance companies, making this a strong choice for agencies at this level of growth.

Pros

  • A free-for-life option is available
  • Easy set-up and a user-friendly interface

Cons

  • Premium plans are required for third-party integration

Pricing

A free plan is available. Premium plans start at $29 per user per month, paid annually after a 21-day free trial.

Tips

  • Build an extensive knowledge base within the customer self-service portal to improve customer self-service options
  • Create automated responses and templates for streamlined communications with customers
  • Enable third-party integrations with the premium plans to improve agent efficiency

Best Software for Insurance Brokers Working in Enterprises

Commercial insurance brokers find their clients the best commercial insurance products. To accomplish this, these professionals typically carry multiple products and serve as advisors to many professionals.

Insurance brokers working in enterprises serve clients with varied risks across all types and sizes of businesses. They need tools that perform in various environments and help manage multiple agents.

HubSpot

HubSpot offers a customizable CRM platform for B2B and B2C insurance agencies. Agency managers can analyze email marketing campaign conversion and track lead conversion across various platforms, using inbound and outbound communications, lead management, and contact management.

Pros

  • Customizable and scalable features
  • Easy to use
  • Great customer support

Cons

  • Full-featured plans can be expensive

Pricing

A free version is available, and paid plans start at $45 per month, billed annually.

Tips

  • Take advantage of blog hosting to provide customers with relevant information with ease
  • Utilize conversation templates to improve customer service

TigerLab (AMS)

As mentioned previously, TigerLab is a cloud-based AMS equipped with solutions that help professionals manage operations.

Pros

  • Real-time visibility in agency data
  • Customization options to fit your agency's needs
  • High-level reporting and analytics to measure agency performance

Cons

  • Not ideal for small businesses
  • Pricey compared to other AMS

Pricing

A free trial is available, and paid plans require a consultation to determine custom pricing.

Tips

  • Utilize the free trial to determine if TigerLab is right for your agency before requesting a paid plan
  • Take advantage of the mobile app for field agents

ProNavigator

ProNavigator is software purpose-built for underwriters, claims and operations teams, and agencies to organize their guidelines, wordings, operating procedures, marketing material, and more. Top features include document management and forms management. The cloud-based AMS solution helps manage customer service, sales, documents, accounting, reports, and more via a unified dashboard.

Pros

  • Excellent collaboration
  • Improves productivity

Cons

  • Search tools can be tricky to get right
  • Difficult navigation may increase the learning curve

Pricing

There is no free trial, and a consultation is required to determine pricing.

Tips

  • Develop an internal knowledge base to improve search functions and access to information
  • Take advantage of opportunities to provide feedback as the company is continually improving the product

How InsurGrid Can Help

Agency management systems help insurance agencies manage internal processes and communications. Customer relationship management software helps insurance agencies manage customer policies, communications, and other interactions. InsurGrid is a revolutionary tool that improves insurance agency marketing, data collection, and customer service.

InsurGrid is a tool for collecting insurance data professionally and efficiently to eliminate the hassle of back-and-forth email so you can get back to work. The software simplifies quoting by collecting all the information you need upfront including declaration pages from your clients, to save you time and make it easy for you to win more business.

InsurGrid provides these benefits for P&C insurance agencies of all sizes.

Improves the Customer Experience

Your customers are busy. Locating insurance information promptly and responding to an insurance agent can disrupt their schedules and even be impossible during work hours. InsurGrid allows you to collect all the information you need to provide potential customers with an accurate quote by enabling you to access all policies tied to the client's existing insurance account.

Your clients no longer need to spend time searching for insurance dec pages and providing information over the phone or by email. Instead, you simply share your InsurGrid link by text or email to automatically collect your client's dec pages instantly. The process is not only easier for clients, but it also provides them with instant service they expect in the digital world we live in today..

Saves Time and Increase Conversions

InsurGrid is user-friendly for both insurance agents and clients. That's why getting started is easy. Agents can create an account in 60 seconds to begin a free trial.
Once your account is created, you'll receive an InsurGrid link customized to your insurance agency. To start collecting dec pages, start emailing and/or texting your link to customers. There is no learning curve or training necessary.

The process is convenient for customers and agents. As a result, P&C agents can boost close rates by up to 50%.

InsurGrid Attracts Customers and Spurs Insurance Agency Growth

While the insurance industry has been slow to adopt technology in the past, the sector is evolving to meet the needs of modern customers. By investing in various types of software, you can streamline day-to-day operations in ways that help you save time and money while improving the customer experience.

InsurGrid works seamlessly alongside all other types of insurance software to collect information from customers quickly and efficiently. With over 180+ insurance carrier connections for clients to share their dec pages in just a few clicks, you can collect dec pages from all your leads in minutes instead of waiting hours or days.
Are you ready to securely collect your client's information in minutes through SMS, email, or QR code? Start your free trial, and start collecting dec pages in minutes.