NU Online News Service, Aug. 31, 3:55 p.m. EDT

More than 80 percent of agencies have some level of agency management automation, but almost half of those agencies use outdated or old technologies which are not fully integrated, according to a recent Strategy Meets Action (SMA) report.

The report, "Agency Management Systems: Marketplace & Vendor Analysis--Satisfying Today's Needs, Positioning for Tomorrow's Opportunities," represents the first SMA-branded research published since the company was launched.

The study found that in addition to being outdated, technologies used by many agents are difficult to integrate and connect with insurance companies.

Agency market leaders, however, view investments in technology "as a way to take control of their environment--including policyholder and carrier connectivity--in order to execute their aggressive growth and expense reduction strategies."

Additionally, SMA said this strategy allows the market leaders to lead in the competitive landscape rather than be driven by carriers.

Karen Furtado, a partner with SMA, said the conclusions in the report were based on interviews with 25 to 30 agents, in addition to information from vendors on the number of agents that were "up and live." The vendor figures were then compared to the total number of agents in the market.

For more information on the report, contact Ms. Furtado at kfurtado@strategymeetsaction.com.

Special Reports /

Many Agents Using Dated Agency Mgt. Platforms

Related Stories

Recommended For You