All About Insurance Agency Management - Software and Services

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All About
INSURANCE AGENCYMANAGEMENT
Software Services
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INTRODUCTION
In Today's Era Due to increasing insurance
demand and
claims requests, Insurance Industry is becoming
harder tomanage appropriately by a single team
in an InsuranceCompany. Thus, Being a complex
Industry, Insuranceentrepreneurs are finding
losses while handling theirinsurance tasks.
Thus, Since 2003, The Insurance Agency Owners are
preferably opting to Outsource their Insurance
Agency
management tasks to the insurance backoffice
service
providers either within their country or over the
Asia basedoutsourcing companies.
This helps the insurance business owners to
easily manage
their core activities and get assured about their
miscellaneousinsurance agency management
activities by the hiredInsurance BPO firm.
Business Either rely 100 upon the Insurance
BPO's and gettheir final results, or ask them to
use specific software tomanage their specific
tasks. Insurance BPO's can also usedifferent
software platforms according to the
customerrequirements.
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SOFTWARE USED IN
Insurance Agency Management
Policy Tracking Reminders
Expanded Agency Solutions
Modern Technology
ITC's Agency Mgmt System
Delivers Customized Solutions
Specialized to Manage Books
An Automated System
Learning Curve for New Hires
Modernize Business Insurance
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VERTAFORE
Insurance Agency Management Software
Vertafore Agency Platform goes beyond outdated
insurance agency management systems.
It mainly focuses on policy tracking and reminder
systems.Vertafore offers a wide platform for
customer and policymanagement, to agency
licensing, reference materials,and real-time
rating, that is designed to make the
modernagency more profitable today and in the
upcoming years.
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NEXSURE
Insurance Agency Management System
Nexsure is an influential cloud platform for
running, growing,and managing your firms tasks.
Its main system accomplishes the needs of many
independent insurance agencies. It has
various solutions available to the agency.
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ASPIRE
Insurance Agency Management Software
This is an innovative, CRM based agency
management system that utilizes modern
technologies and methods to increase the
productivity of the firm.
It has unique features that are as follow-
1. SMS/text messaging to your clients
2. Mobile device access from your phone or PDA
3. Outlook interface, that syncs with comparative
raters.
4. Agent Website Interface
5. AspireCHAT ( built in CHAT feature)
6. Automated Marketing
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INSURANCEPRO
Insurance Agency Management System
ITCs agency management system InsurancePro, is
responsible foreverything involved in running an
insurance agency that includes tracking
commissions, updating policy data automatically
reconciling payment transactions.
It helps to decrease the workload increase the
efficiency, henceallows you to focus on the
growth of your agency. Features
Letters, Mail Merge Cloud Storage
ACORD Forms
Built-in Accounting Features
Quote Management
Email Capabilities
Commission Reporting
Printing Docs
Easy-to-Use Interface
InsurancePro Support Options
Imaging Reporting
Follow-Up Reminders
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HAWKSOFT
Insurance Agency Management System
Hawk Soft is for Commercial Personal Lines
agencies thatmainly focuses on a meaningful,
long-term relationship with aprivately-owned
company who can deliver outstanding value in
their management system.
The Strongest Points of HawkSoft Agency
ManagementSoftware are
RETAIN The Retention alerts helps to focus on
thepriority requests.
GROW Increases Focus on Client's those exists
in theSales Funnel.
MEASURE Actionable Reporting System.
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AGENCYMATRIX
Insurance Agency Management Software
Insurance Agency matrix software allows your
agency tomanage your book of business, your
staff your office from anywhere.
It Offer Different Solutions with the Insurance
agency
management software that helps the business with
businessproductivity, exceptional mobility
guaranteed burdenselimination.
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APPLIED
Insurance Agency Management
Applied Rater fills information automatically
into carrierswebsites that eliminates redundant
typing saves agents quoting time up to 85.
There are around 10,000 agents in 46 states that
uses AppliedRater every day to quote auto and
homeowners insurance,create proposals and bind
policies, earlier this software wasformally
SEMCAT Quoting Software.
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NEWTON
Insurance Agency Management Software
It is a comprehensive Insurance agency management
system andhas all the capabilities, ACORDS,
submissions and integrates with most rating
software.
It is a complete insurance accounting, commercial
submissionsystem, integrated with outlook mail
and calendar.
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AGENCY SOFTWAREINC.
Insurance Agency Management Software
Agency software INC. modernizes the management of
day to day operations of advertising and
creative agencies.
It is a powerful, scalable and easy to use for
any sized insuranceagency.
It automates the business, customer services and
officemanagement activities for insurance
agencies.
Has Proven the Reliability Effectiveness
Ease-of-use, Excellent Support
Best Technical Support
With over 18,000 Installations Nationwide
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Insurance Agency Management
MAJOR OUTSOURCED TASKS
1. Insurance Back Office Support
2. Insurance Policy Management Services
3. Insurance Commission Management
4. Insurance Claims Processing Services
5. Insurance Accounting Services
6. Insurance Legal Services
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Insurance Back-Office Support
The very First agenda of this document is to
provide insuranceentrepreneurs an awareness on
how they can boost theirbusiness profits up to
50 by just hiring an insurance back-office
service provider to perform their secondary
businessoperations.
The Insurance BackOffice Companies are the
licenced and
certified authorities those can provide the
expert business
solutions to the insurance companies, agencies
and individualagents.
What Companies can Outsource?
Quotes Preparation, Documents Handling, Client
Receipts, RecordPayments, Invoice Data Entry,
Policy Checking, Record Perils,Proposals
Generation, Accounts operations, Claims
settlement,Withdrawls, Reconciliations, File
Closure, Portfolio Management,Order Loss Runs,
Insurance Endorsements, Policy Issuance,Renewals
and others.
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Insurance Back-Office Support
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Insurance Policy Management Services
Insurance Policy management is the phenomenon of
generating,communicating, sustaining policies
and processes within anassociation.
It can be described in the following steps
1. Generating/ creating When a requirement is
acknowledgedwithin an organization, a policy is
transcribed and goes throughan endorsement
process.
2. Communication After creation and
authorization, a policy iscommunicated to staff.
This comprises publication of the
policy,training and confirmation.
3. Management Through the life cycle of policy,
it is constantlyenforced and exemptions are
achieved when it is applicable.
4. Maintenance Policies are reviewed frequently,
updated, andachieved when needed.
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Insurance Policy Management Services
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Insurance Commission Management
Commission Managemnent equally depends upon, or
fixed bycustom or law, fee accumulating to an
agent, broker, or vendorfor simplifying,
initiating or implementing a commercialtransactio
n.
An insurance agency is also called as insurance
brokerage or
independent agency that solicits, writes and
predicaments policiesthrough many different
insurance companies. In other words, theagency
is the place where people associated with the
agents toconduct their business.
Step-by-Step Process
Compliance office Regulatory compliance
reporting, Best ExecutionCommittee
Client Services/ Marketing Client reporting,
competitive positioningpromotion of best
practices
Chief operating officer Control operational
costs, Oversee riskmanagement polies and
procedures
Research director Establish research budgets,
manage brokerrelationships
Head of dealing Manage CSAs, achieve best
execution, reducetrading costs
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Insurance Commission Management
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Insurance Claims Processing Services
Insurance claims are a formal demand to an
insurance
corporation requesting for a payment based on the
terms ofthe insurance policy. The insurance
company reviews theclaims for its validity and
then pays out to the insureddemanding party once
sanctioned and the process is calledinsurance
claims management.
Here are the following steps for an effective
claimsmanagement
Take care of your injured employee
Have an injury reporting plan in place
Report claims promptly to employers
Examine and document the accident
Stay involved during the claims process
Get your employee back to work
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Insurance Claims Processing Services
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Insurance Accounting Services
When youre tied up with insurance accounting
administration,you have less time to focus on
what matters to your businesssuch as managing
assets, selling insurance and expanding
yourcompanys market share.
Insurance accounting cover the full range of
insurance products reinsurance agreements, so
you can assign internal resourcesto executing
business strategy, not entering credits and
debits.Insurance Companies need insurance
accounting services forstreamlining their
complicated insurance tasks such as
Management of Cash-flow
Bookkeeping
Accounts Payable
Accounts Receivable
Bank Account Reconciliation
By implementation of these accounting services in
insurancethey can improve their performance and
also save yourprecious time.
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Insurance Accounting Services
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Insurance Legal Services
Using the Litigation Support Services of an
Outsourcing
Company, Insurance agencies can avail the best
Legal support at Competitive Prices. Outsourcing
firms can
handle all the Legal Activities for the Insurance
Firms which theInsurance Businesses themselves
do not have the Capability tohandle and also the
hiring In-House Legal team may not beViable.
When you Consider Legal Insurance
If your Business feel overwhelmed while dealing
with anylegal issue.
Want to save thousands of dollars and extra
time consumedto resolve legal cases.
Want to manage the risk of unplanned legal
costs.
Want the best possible Legal Advice or Planning
for theFuture.
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Insurance Legal Services
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COGNEESOL
Insurance Agency
Management Service Provider
Cogneesol, Inc. - A Leading Business Outsourcing
Companythat offers premium insurance agency
management servicesand outsourcing backoffice
solutions to the insuranceagencies, companies
and insurance wholesalers worldwide.
We at Cogneesol are a team of insurance experts,
who are
offering dedicated insurance backoffice services
and agencymanagement software solutions as per
customer'srequirements.
As Mentioned before in this document Cogneesol
offerinsurance agency management software
services usingdifferent software's that are
Vertafore
Nexsure
Aspire
InsurancePro
HawkSoft
AgencyMatrix
Applied
Newton
Agency Software
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CONTACT INFORMATION
Cogneesol, Inc.
Head Office
30 Wall Street, 8th Floor New York City
NY 10005-2205
Phone [phone]
Operational Branch
S.C.F 61-62, Phase 7 Industrial Area Mohali,
Punjab
India 160055
Phone [phone]
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