How insurance agencies can benefit from a modern ERP software

Adnan Patel
| 5/3/2021
How insurance agencies can benefit from a modern ERP software

Why have insurance ERP software when you already have an agency management application?

There are a number of ways you might be losing profit that you don’t even realize.

Whether it’s late payments from carriers, incorrect commissions, or missed policy renewals, there are a number of ways insurance agencies miss out on revenue. Insurance ERP software can help you avoid those pitfalls and uncover ways to grow.

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Your existing insurance application doesn’t have to go anywhere.

Insurance agency owners and managers have told us time and time again that their current software doesn’t do enough, but there is no way to move away from it. And who wants to duplicate their work in two different systems?

The good news is that insurance agencies can get the powerful financial functionality to scale their businesses and stop losing money on avoidable errors – while keeping their current system and avoiding redundant data entry.

All you need is insurance ERP software tailored for your industry that’s integrated with the API in your insurance system. If that sounds complicated – my team is has done it enough times to make the process much simpler than you’d expect.

We have a NetSuite ERP solution that’s ready to go for insurance agencies.

Some insurance agencies have spent years refining their ERP software for the exact needs of their industry. You can start with a fine-tuned system from the very beginning by taking advantage of the insurance solution Crowe has already created for NetSuite.

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No one wants to leave money on the table. Insurance ERP software can minimize that risk.

You can uncover the big ways in which you may be missing out on revenue when you have powerful planning and budgeting tools within NetSuite.

But you may be most surprised by all the small ways you are missing out on profits, and how automation can help you fix them. NetSuite allows you to automatically monitor premiums so increases don’t fall through the cracks. It also helps you stay on top of commission accuracy and automate credit terms, invoicing, and collections so you get paid promptly.

Growth doesn’t have to be painful. Insurance ERP software can make it easier.

Many insurance agencies have dreams of opening new offices, offering new types of policies, and getting agents to sell more. But dealing with the increased workload and all the coordination required is daunting.

An insurance ERP software like NetSuite can help you make your processes more efficient so that an increase in sales doesn’t necessarily mean more effort or more staff. When you have all the information you need to run your business in a central location, you can grow with confidence and speed.

We know there’s more to a successful agency than customer service and policy management.

In order to really achieve growth, you need to closely monitor your cash flow. It’s also important to have an accurate outlook on the performance of your agency. We can help you with customizable reports so you can break down sales by office, agent, client, or policy type.

Your goal is to sell more, but that can become overwhelming. With the streamlined functionality of NetSuite, it doesn’t have to be. We’re here to help answer any questions you have about insurance ERP software, and how you can run your agency better.

Contact us

Adnan Patel
Adnan Patel
Principal, Consulting
Steven Parker
Steven Parker
Managing Director, Consulting
Alejandro Alvarez
Alejandro Alvarez
Senior Manager