At ILSA, we love coming up with tech solutions to make our clients’ jobs easier. The great ideas don’t always come from us, though. Today, I’m interviewing Raution Jaiswal from InsuredMine about his agency management solutions.
Many insurance agencies already use an agency management system. How does InsuredMine improve the functionality of those systems?
InsuredMine is an add-on to any Agency Management system that helps agencies convert, engage and retain clients. This is accomplished through the powerful SEAM model: Sales, Engagement, Analytics and Mobility. Agency Management systems are great for policy management; however, they do not provide an effective platform for agencies wanting to manage their customers.
But as we all understand, insurance is a relationship-based business and if we are not engaging with clients in a smart and effective way, then we are simply not doing our best. This is where InsuredMine steps in to help bridge that gap between agencies’ expectations and making efficient customer management a reality. That’s an area where most agency management systems fall short. Additionally, easy adaptability and a seamless application process make InsuredMine a perfect add-on to any Agency Management System.
Lots of agents are a little overwhelmed by the rapidly-changing technologies available today. What advice do you have for agency owners to encourage their teams to take full advantage of InsuredMine?
The purpose of technology should be to make tasks easier and thereby an agent’s life easier. If you need five different technologies to accomplish five different tasks, then there is a problem. Agents lose interest and the rate of adoption declines because of the complexity involved with learning five different things. The purpose of InsuredMine is to be that all-in-one integrated technology to help agents manage prospects and clients while keeping it simple at all stages so the agents are eager to reap the benefits without having to undergo long hours of training.
What inspired your team to create InsuredMine?
InsuredMine conducted a survey of about 500 independent agents in March of 2017. The results of the survey strongly suggested that agents all over are struggling with old traditional methods of managing their agencies and are looking for help to transform from the analog model to the digital model. Understanding the magnitude of the problem quickly led our technology team to develop a simple solution to address the issue. We continued our conversations with the agents throughout the process to gain further insights into the problem, and with their feedback, we are constantly customizing, fine-tuning and innovating our product to meet agents’ evolving requirements.
We’ve talked about what InsuredMine can do for insurance professionals, but you also have solutions for policyholders. Can you tell me more about them?
Absolutely. It is all part of the same ecosystem so we could not have designed a solution that leaves policyholders out of the equation. InsuredMine developed an Agency Portal for the agents and a Client Portal for policyholders that also comes with an agency-branded mobile app that can be used as a policy wallet to consolidate all policies in one place.
What features does the app offer?
The primary purpose of an independent agency is to create a connection with a strong sense of agency branding. This is best achieved with a co-branded mobile app where the agents can provide service, experience, trust, and digitization for their customers. The app allows policyholders to have all their policies in one place (a policy wallet), receive personalized notification for policy renewals and payment reminders. Policyholders can also save all their Insurance cards, and other insurance-related documents securely within the app. They can also capture details of any auto accidents and connect with agents easily as needed.
Thank you for your time today, Raution. If people want to learn more about how InsuredMine can help them manage their agencies, how can they schedule a demo or a one-to-one consultation?
For more information on InsuredMine, be sure to listen to Raution’s Spot On Insurance podcast, InsuredMine Agencies: Convert, Engage, and Retain, debuting on Tuesday, November 19.
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