One thing successful MGAs and program administrators do to prepare for a surge in growth is evaluate their technology, so that systems and software hum along with the pace of new business. Here are the top four reasons clients made the switch to Insurance Management Systems (IMS) for all their automation needs. You’ll know it’s time for you to consider new policy administration software if you find yourself with any one of these challenges:
#1 Limited or no customizations – MGAs and program administrators operate differently when it comes to how billing is handled, commissions are paid and overall day-to-day insurance processing. To accommodate the nuances found in each organization, you need a policy admin system that is not built to force you in a specific workflow, but rather one that accommodates your uniqueness. If you must overhaul how you do business to fit your system, it is time to look to a solution that celebrates your style.
#2 Getting a new product to market takes too long – When you cannot quote or write the new program business quickly, we understand that you are losing valuable time and money. We know the insurance marketplace demands you to be nimble, so we support you with an agile development shop that embraces quick and efficient software changes. Your goals are our goals.
#3 Integrating with other software solutions and vendors is difficult – Being unable to easily integrate with other vendors or software solutions limits your ability to write business, generate reports and grow your business. Using APIs and other technology to seamlessly integrate with on-line portals, rating platforms and other data sources is vital to your success.
#4 Not responsive to enhancement requests – At MGA Systems, we strive to help MGAs and program administrators be more efficient and profitable. We are a service company, not a software development company. We are here to listen to our clients’ automation wishes and turn their ideas into working software.
If any of these four issues sound familiar, it may be time to partner with a new policy administration vendor. Our experienced account managers are well-connected and experienced in the industry. We can assist you in preparing a timeline for a new policy admin system implementation. To start the conversation, please give us a call at (877) 790‑1114 or contact us here to find out how MGA Systems can provide you with the solutions — and customization — you need.