Which Business Processes Can Change an Agency for the Better?

Contributor: Grant Hester | Linchpin | NetVU Gold Partner | Posted 06/07/2022

“Work smarter, not harder.” This phrase is about ways agencies can improve efficiencies by streamlining everyday work processes. And while the meaning is generally understood, knowing how to put those words into practice can be as clear as mud.

Sure, a quick internet search can reveal hundreds of ways to apply this principle – but how it’s used will be different for every business.

From billing to bookkeeping, data management to software applications, and carrier payouts to claims and commissions, the internal business environment of an insurance agency is complex. It’s why many agencies are looking to streamline the process using modern technology platforms. But when it comes to selecting new system capabilities to improve agency efficiencies, which options can provide you with the most benefits?

The best business processes to automate are those that are most important to your agency. Today, many agencies are taking full advantage of their agency management system (AMS) to help optimize these key areas while reducing operational costs:

  • Agency Accounting. Ensure accurate agency accounting processes to eliminate errors in carrier payouts, producer commissions, and agency and direct bill reconciliations.
  • Direct Billing. Get instant, on-demand access to agency direct bill policy information.
  • Data Entry. Automate data entry and other routine processing tasks to save time and reduce errors.
  • Loss Run Procurement. Effectively eliminate delays in new business and renewals with easy access to currently valued loss runs.
  • Client & Renewal Setups. Streamline client onboarding and policy renewal processes by automating and tracking policy expiration dates. 
  • Proposal Processing. Transform the request for proposal process by reducing time to prepare.
  • Effective Policy Checking & Vendor Payable Processing. Simplify accounts payable tasks and reduce batch processing errors.

Automated business processes play a supportive role in the success of your agency and ensure a consistent experience for your policyholders. Linchpin works regularly with insurance agencies, clusters, and aggregators with integration needs in the selection and migration of AMS. Our accelerated conversion process gets you up-to-speed quickly, and afterward, our help desk is there to provide ongoing support. Is now the time for you to work smarter and not harder?

Grant Hester is the Founder & CEO of Linchpin, a national insurtech firm that specializes in serving the technology and automation needs of the Property & Casualty segment of the insurance industry.

Interested in learning more? Visit linchpin-it.com  or email [email protected]

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