Likelihood to Recommend BindHQ is great for the insurance industry. Scenarios in which it is used in accounting: 1. Looking up policies and seeing if they have been paid. 2. Sending out statements and allowing for review of those statements in an organized function. It provides Agency Bill/Direct Bill, Receivables/Payables, Open/Closed. 3. It allows for us to post/offset and make decisions based on producer, carriers, finance companies and agents directions. Scenarios where it is less appropriate. 1. Outside of the insurance field. But just saying that as for right now. It does not mean that this kind of platform is not usable for other industries, but it would need to be modeled to fit each industry. It has all the core structures needed to help organize and run a business.
Read full review Vertafore ReferenceConnect is well suited within an organization with many users, who are trying to turn out policy submissions and gain information quickly. It is also well suited for individuals who are trying to learn more specifically about classes of business, what types of insurance coverage is recommended, and what the policies are based on. It opened my eyes to a lot of exposures for class codes that I was not particularly aware of, due to the fact that I am a new agent, and I would recommend this be used for agents who have less than 5 years experience.
Read full review Pros The option for us to CC the BindHQ email to file our correspondence with agents, carriers etc. is my first point for convenience. It is important for us to document just about every piece of every conversation we have and that option makes it seamless to operate efficiently and diligently. It is easy to navigate. Simple as that. The layout is aesthetic and well spaced. The pertinent information pertaining to individual accounts is accessible and placed right across the top of the page. The ability to move from the current account to an expired account or the other way toward the renewal is very helpful. Often we need to access the previous years information and being able to do that just with a simple drop down at the top of the page makes it quick. Read full review It provides a variety of descriptions that allows for correct selection. It provides information not readily available like what a rate is based on. Gives market appetites with some carriers. Read full review Cons Rating option directly from account input - I would like to see this feature launched so that we could have a single entry feature that can obtain rates from multiple carriers Bdx Reporting - This would help with binding authority business, especially when a monthly report must be sent to a carrier partner Read full review Sometimes the site navigation is not the most fluid. Sometimes I get logged into a particular carrier's section and have to log out and log back in - not sure the reasoning. It does not always recognize my description so finding the class code is sometimes harder than expected. Read full review Usability BHQ is a user friendly, lightweight program that runs anywhere you have internet access! I use it at home, the office, or even at a nearby coffeeshop. It's hard to beat that kind of mobile work lifestyle particularly in the current world climate
Read full review Support Rating It was hit-or-miss in the past but they seem to have taken steps to improve this. As of the past 6 months, they've been pretty quick to patch bugs and fix issues when we report them
Read full review I have not had to use the support for Vertafore ReferenceConnect.
Read full review Alternatives Considered When comparing these to BindHQ, without a doubt, it is MUCH easier to navigate through AR and AP modules, applying cash, issuing checks, viewing policies, working remotely (no remote desktop), Gmail features with attaching emails to policies. But the main takeaway with what outshines than any other agency management system out there is the smooth transition from moving from AR to AP modules. You just can’t find that anywhere.
Read full review Unfortunately, I have not used any additional software programs like Vertafore ReferenceConnect so I am unable to compare them. I do know that my insurance agency likes the capabilities that it has and is not looking for alternatives at this point - this can only speak to the benefit to the organization.
Read full review Return on Investment Positive - By streamlining our workflow processes it has allowed our production teams to focus more on production and generating more business and not on backend data entry and time wasting functions that we had with previous systems. Positive - Production teams are now able to work together seamlessly on a single account regardless of employee location allowing for remote working to function without any time restraints Read full review Positive impact on rounding out accounts with additional lines of coverage. Positive impact on correctly classifying an account. Positive impact on learning as a new agent. Read full review ScreenShots