Learn More About Insurance Suites Software
What are Insurance Suites?
Insurance Suites are modular software packages from a single vendor designed to cover all the business and policy administration needs of insurance agencies. Thus these include underwriting, risk, and policy management. Additionally, on the business side, they include marketing, customer experience, sales forecasting, and pipeline management in the same solution.
While some vendors may focus on a particular insurance market (e.g. property and casualty), insurance suites generally emphasize tools to make agents more effective at satisfying customers and growing accounts. This might include fast automated quoting, product guidance, and other various marketing tools. Areas of specialty include P&C, benefits insurance, as well as life & annuity.
Insurance Suites Features & Capabilities
Insurance Suites encompass the various capabilities below:
Policy administration system
The billing system, auto-pay
Cash and commission management
Secure client web portal
Audit trail of client data change & access
SMS, mass text messaging
Renewal marketing & management
Rating & quoting module
Policy guidance & comparison
Customer messaging & notification
Document management with versioning
Customer portal & mobile app
Insurance Suites are inherently modular and meant to fit the needs of the particular insurer. Pricing will also scale directly with deployment breadth and increase with add-on modules, like including marketing automation, sales automation, mass texting and renewal management, and market intelligence. Price scales directly with the size of agency supported (i.e. number of licenses required).