I am often asked about my take on the future of the insurance industry. The industry is not going anywhere, that is for certain. However, I do expect to see a drop in the number of agencies, especially in the independent insurance agency sector, because many will not mold their business practices and processes in time to handle the changes that are taking place. The competition will slowly eat away chunks of their business by simply implementing low-cost or even no cost initiatives, only because they had the foresight to do so.
I was recently asked this question and wanted to share my response:
I think the driving factors are a combination of the following:
1. Frustrations by users who feel the current systems in the market are out-dated and hard to use.
2. New Technologies available, especially with web-based applications.
Are you thinking about getting into the insurance business? It’s definitely a great business to be in but not as easy as agents initially imagine. Once you get your licensing in place and choose a location to operate from, the next thing you need to consider is the agency management system you will use to run your business. It is not recommended to operate your business without one. They help reduce your workload, make you more efficient and reduce E&O claims. In fact, some E&O carriers require you to have an insurance agency management system or use insurance agency management software. Continue reading “Starting an Insurance Agency? Here’s A Great Tip”
Looking for a new insurance agency management software to run your independent insurance agency? Look no further. Check out Aspire by Impowersoft at http://www.TomorrowIsHere.com. This software is truly revolutionary in many regards. It not only manages your insurance book of business, but it also places marketing tools at the fingertips of insurance agents. If you are using several applications to run different aspects of your business, you will no longer have to do so. Continue reading “Insurance Agency Management System”
After 3 months of great effort by several of our team members and contractors, our new Houston location for Impowersoft is almost complete. We are very excited about this state-of-the-art environment which will house our executive, marketing, sales and implementation teams. More information to follow.