Closest thing to a crystal ball for renewal projections!
Pros
- Renewal projection - forecasting renewal rates is accurate and has been very beneficial to our clients and business.
- Single period report is decent, but not as user friendly as we'd like it to be. It really only works with certain carriers.
Cons
- Single Period Report: We hoped it would be like a "DMW lite" but it is only usable with a few carriers, and it's clunky/time consuming to use. We stopped using it.
- Plan Modeler: It's a good idea, but we don't use it much. It needs more development and modeling options.
- Plan Selector: It's a good idea, but it's too time consuming to add the info. If we could import it easily, we'd use it much more.
Most Important Features
- Renewal estimator
- The other three components need some money and time to develop to make them more usable.
Return on Investment
- The renewal estimator has helped us win new business!
- The renewal estimator has successfully helped us with marketing and carrier negotiations, i.e., it holds weight with underwriters and is hard to argue against.
- The renewal estimator has helped us prepare our clients for their upcoming renewal by forecasting cost changes well in advance so that there are no major shocks or surprises.
Other Software Used
Ease (formerly EaseCentral), Mineral (formerly ThinkHR), Zywave Analytics Cloud - Decision Master Warehouse, Zywave Content Cloud - Employee Benefits Content Packages (Broker Briefcase), Applied Epic, LastPass for Business, Microsoft Teams