Every type of organization within the insurance agency marketplace currently faces tough challenges. Insurers are figuring out how to manage through the changing distribution channels, agencies are learning new technology and vendors are fighting it out with competitors. SMA, an insurance analyst firm, set out to examine this environment to determine agencies’ need for, and potential use of, agency management systems as well as to assess the vendors that provide solutions.
Authored by Deb Smallwood and Karen Furtado, the report, “Agency Management Systems: Marketplace and Vendor Analysis,” gathered data from insurance agency interviews, as well as interviews, product demonstrations and survey responses from vendors/solution providers. The report concludes that with budgets remaining tight in the coming year, agencies saddled with obsolete technology will be challenged to compete successfully since consumers have now come to expect real-time service in all areas of life.
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