Insurance Broker Software

4 Characteristics Every Insurance Broker Software Should Have

Insurance broker software integrates and scales an insurance business. It provides comprehensive solutions for the entire insurance brokerage process, including leads manager, underwriting, customer web journey, finances, reporting, processing, and customer insights. You can use the software for insurance broking, insurance quotation, life insurance, health insurance, car insurance, and underwriting.

Insurance broker software characteristics

Here are some of the must-have characteristics of your insurance broker software:

1. Customer web journey

You can personalise your customer’s web journey with key questions, requirements, and suggesting product types. It will help you monitor your sales journey’s progress and connect the results with your company’s call centre to boost sales. You will maximize sales conversions by improving your customers’ application process capitalise on different upsell potential.

2. Leads manager

This type of software doesn’t leave any opportunity to provide leads. The more leads you work on, the more chances you create to convert them into customers. It often comes up with live leads that you can follow up quickly to know the potential customer’s requirements and accordingly guide him to your company website.

3. Customer insights and broker management

Customer data is crucial for quick follow-up on leads and existing clients. The software provides detailed information about the features of different insurance policies, thus allowing you to pitch for them according to customers’ requirements. It also provides insurance renewal reminders that you can send to your existing customers so that they can renew their policies before they lapse.

Apart from customer insights, you can also use the software to manage multiple partners on your website and access live lead reports. Work on these reports to convert your leads into customers.

4. Underwriting

Usually, it would help if you had a developer’s input to decide whether you should underwrite a few policies or not. But with the broker software, you can track your policies’ underwriting workflow and simultaneously make rapid decisions in your decision engine. The best thing is you don’t need a developer’s input to make decisions anymore. Your software should track live applications and store crucial documents that you can later use to underwrite policies.

The quicker you make underwriting decisions, the more you score and gain customer insights. Every insurance broker should use this type of software as it makes brokering a lot easier and accurate. Most importantly, you can expand your business by converting many leads into customers.

To find out more about how Insurance Broker Software could help you, contact SchemeServe on +44 (0)208 0880 672