An insurance management system, also called an agency management system (AMS), is a SaaS (software as a service) technology that insurance agencies use to run their businesses much more efficiently.

In other words, it’s the digital assistant you didn’t know you needed. This article will introduce you to some of the best options in 2023 and everything you should know if you are hearing this for the first time.

What is an AMS?

AMS is insurance agent software. It is meant to automate most administrative and logistical tasks so that agents don’t have to spend as much time sorting and filing. When agents can manage their day-to-day paperwork more effectively, they have more time to spend with clients. A good AMS makes storing information about customers and their finances easier and faster, giving all agency members instant access to the information they need.

When your information is disorganized, it’s impossible to know if you’re following critical policies, and the consequences can be costly. Insurance management systems are essential for ensuring insurance agency compliance at all sizes. Accurate record-keeping and automated alerts ensure you comply with local and federal regulations.

State insurance departments, which see insurance regulation as a matter of public interest, are in charge of setting rules for the insurance industry in each state. These state regulations allow insurance companies to make more specialized decisions on behalf of local clients, but they can cause problems when a company expands to multiple states.


The three most important differences between an agency management system (AMS) and a CRM are specificity, totality, and productivity.

Generic CRMs are designed for large businesses. For insurance companies to use them strategically, they often need to make a lot of changes, which can take a lot of time and money. But to make these changes, many agencies need the help of a developer or another third party. On the other hand, an AMS is a CRM tailored to the needs of a specific industry. These specifications are usually life and health or property and casualty in the insurance industry.

One of the most important benefits of an AMS is that it allows you to strengthen client relationships through automated messaging. Follow-up campaigns, renewals, and other forms of communication must be automated. A good AMS should help you automatically bundle your products, giving you a better chance of keeping clients for longer than if they don’t.

The AMS Process

An insurance sales process consists of numerous repetitive tasks, such as generating leads, storing them, and assigning them to the appropriate agent. These tasks, however, can be tedious and time-consuming.

Sales automation takes care of repetitive, time-consuming tasks and any other tasks due to a specific event. It improves the sales process and has a direct impact on revenue. Similarly, the sales and marketing automation engines eliminate all possibilities of human error.

A customer journey builder is one of the most important parts of a system for running an agency. It lets insurance agents make visual maps of customer and prospect journeys, find pain points and places where people drop off and stop lead leakage if it happens. A journey builder helps create a complete customer journey across multiple communication channels.

The processing of commissions is an essential part of the insurance agency business process. When calculating sales incentives, spreadsheets or Excel can produce inaccurate results. Because of this, it’s important to use an automated, data-driven, and purpose-driven solution to boost agent morale and increase the amount of money they can make. It keeps agents informed of their daily progress and promotes simple, error-free accounting practices.

For a long time, the concept of up-selling and cross-selling has been prevalent across industries. Every industry has benefited from this concept, from retail stores and restaurants to e-commerce and finance. But what if up-sell and cross-sell alerts could be automated based on the customer’s previous purchases? Doesn’t that sound good?

Similarly, agencies may lose potential customers if agents fail to contact them during renewal. It may result in a lower customer retention rate and have an impact on revenue potential. As a result, sales representatives must be reminded on time. 

Best Insurance Management Systems

Insurance agency management software is multipurpose software designed to manage an insurance agency’s operations. These solutions include both back-office and customer-facing features. The goal of an insurance agency management system is to give an insurance agency a complete solution that takes care of most of its tasks.

Some of the best management systems are:

#1. Bitrix24:

It is a client management solution that allows businesses to organize and track interactions with existing and potential clients and partners. Users can use the software to log and manage client interactions, capture and store lead data, generate sales reports, and segment target audiences.

Leads from a user’s website (for example, via an order or feedback form) can be directly fed into the CRM. After that, users can create message templates, send individual or group emails to leads and contacts, take notes on client interactions, schedule meetings, and assign tasks.

Users can make customized invoices for clients by automatically filling in the client’s information and sending them to the client’s email address.

#2. AgencyPro:

It is agency software for insurance companies, brokers, and underwriting firms. It is appropriate for organizations that offer a variety of insurance products, such as auto, home, health, accident, causality, and life insurance.

ACORD form management, ledger accounting, accounts payable, accounts receivable, direct bill reconciliation, advanced reporting, and comprehensive carrier downloads are all included in AgencyPro.

AgencyPro is built on a Microsoft SQL server, and up to 99 people can use it simultaneously. AgencyPro’s client database lets users search by filtering, advanced search, pre-filled drop-downs, or columns. This makes data entry more consistent. Users can attach any file type to a client file using integrated document management.

#3. Insly

Insly is a cloud-based accounting system for brokers, agents, and accounting professionals. Accounting and billing management, debt management, and reporting are all important features.

Insly helps manage sales pipelines by letting users see information about customers, like their location, email address, customer type, and other vital details.

Users can also make and manage policies by looking at information like payment plans, claims, active offers, renewals, etc. Users can use the reporting feature to provide a review of business results. The solution offers customizable reports that include an overview and detailed operational information. Regularly, the sales reports dashboard provides a statistical assessment of sales. Users can specify report criteria.

#4. VetaFore

The Vertafore Agency Platform is a cloud-based insurance management solution for all sizes of insurance companies. The suite comprises accounting, customer management, document management, policy management, and reporting. Apps for Android and iOS are available.

The Vertafore Agency Platform includes business process navigation, which aids users in documenting processes and providing forms involved in them. The product also has a reference library that users can use at different points in the business and insurance filing processes.

Vertafore has a tool called “National Comparative Rating.” This tool is powered by PL Rating and gives users quotes for different types of insurance claims, like auto, home, and natural disasters.

#5. Stream Suite

Stream Suite is an insurance management solution for businesses of all sizes. It gives you everything you need to handle claims, customers, billing, policy administration, and distribution all in one package. The product is available for both cloud and on-premise deployments.

Policy administration is a part of Stream Suite that lets users manage the different aspects of the life cycle of an insurance policy, such as underwriting, maintenance, and rating. The product also includes quoting, allowing users to generate large quotes and compare business performance across life cycle stages such as new business, renewals, and endorsements.

Stream Suite also has a “claims” feature, which lets users make workflows for personal and business use.

Top Insurance Management Systems

Top insurance management systems include;

  1. VPAS Life
  2. Sapiens IDITsuite
  3. NIC insurance filings
  4. Insure Edge
  5. Duck Creek rating.

Frequently Answered Questions

What software do most insurance companies use?

Most companies use:

  • Partner XE. 
  • Bitrix24. 
  • Indio. 
  • Jenesis Software. 
  • PhoneBurner.
  • NowCerts.

How much does an insurance agency management system cost?

A system for managing an agency can cost anywhere from $1,000 to $5,000, with monthly fees between $60 and $600.

What are the 4 types of insurance?

The four types of insurance are: Life, Auto, Long-term disability coverage, and health insurance

What is insurance claims management software?

Insurance claims management software aids insurers in the management and evaluation of insurance claims. They let agents manage the claims process with automated workflows that ensure all claim details are recorded in a central system.

Insurance Management Systems: References

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