In their broadest sense, insurance solutions refer to products that are designed to make workflows in the insurance industry more streamlined. In most instances, when someone is using this term they’re referring to insurance software solutions, so programs and pieces of software that are meant to simplify and streamline things for both agents and customers. Most people who have ever filed a claim know just how inefficient the processes of insurance companies can be. There’s an overwhelming amount of paperwork that has to be filled out when you’re signing up for a new plan or filing a claim, and it sometimes feels like it’s all done to dissuade people from doing so. Of course, the truth is that insurance companies just want to have documentation for everything, but it sure seems like things could be better organized. Obviously, that’s exactly what the makers of insurance software solutions believe as well.
Now, if you work in the insurance industry and you’re looking to purchase an insurance solution to make work easier for your agents and processes better for your clients, there are a few things you should think about before you purchase a solution. First off, you want to perform an assessment of your company to see where the inefficiencies lie. This means interviewing your employees and surveying them about what they think the biggest problems are, talking to your customers and surveying them about the issues they’re having, and having an independent third-party come in and identify issues of their own. You want to combine all of this information and write up an assessment of where you think the biggest problems are, and from there you can begin to identify software solutions that might help. For example, if you discover that one of your biggest problems is you aren’t getting accurate quotes to customers on a timely basis, then the eForms Wizard from Avyst is the product you want. So identify what your problems are by talking to your customers and your agents, and then find a solution that solves that problem.
Another thing you want to do when you’re looking for insurance solutions is determine which solutions have positive reviews on them. If other insurance companies have used the solution in the past and really enjoyed it, there’s a better chance you’re going to enjoy it as well. Still, you need to pick the solution that’s right for you. If one company likes a particular solution but you don’t need to solve the problem that it addresses, then the positive reviews don’t matter. So find a few solutions that are aimed at what you need, and then go through their reviews to see what people think.
Finally, you should always be thinking about cost when you’re looking to implement software solutions for your insurance business. It’s great when you can improve workflows, but if the cost is prohibitive, it won’t do you much good because you’ll be pinching pennies. Whether you’re looking for property insurance software or a casualty insurance solution, compare costs among a range of solutions and choose the one that offers the best solution at the best price.