January 7, 2009 by Steve.

JumpVault is software that addresses concerns from a growing number of businesses whose employees regularly use BlackBerry, USB flash drives, and other mobile devices to transport and transfer data. JumpVault transforms an ordinary USB flash or mobile device, such as a BlackBerry, into a secure virtual container. JumpVault, created by QuickVault, Inc., is password protected and offers the option for meta data logging to track movement of mobile data files.

The company says JumpVault fully protects information on any mobile storage device with internal flash memory—no matter the file size or type. The product also functions as a backup unit for laptops and workstations often overlooked by enterprise business continuity and disaster recovery programs. That means contracts, proposals, business plans, personal documents, confidential documents, spreadsheets, and legal documents can be protected on mobile storage devices.

Sarbanes-Oxley, Payment Card Industry (PCI), and the Health Insurance Portability and Accountability Act (HIPAA) mandate by law that record holders safeguard certain types of information. JumpVault’s data loss prevention features protect mobile data from unauthorized access or disclosure.

JumpVault software is fully contained on the USB-enabled mobile storage device and operates across a variety of computer operating systems including Windows, Vista, and Mac. JumpVault has a built-in 256-bit encryption and offers the option of scheduled transfer of data from PCs to corporate servers. Data stored on a BlackBerry, for example, cannot be accessed without authentication. For more information, visit JumpVault.com.

Posted in Cool Tools, General, Agency Management Systems | Print | 1 Comment »

December 16, 2008 by Steve.

Clients who have been confused or intimidated by the complexity of health insurance now have an easy way to take the first step towards getting the individual medical coverage they need. A new Web site, SimpleCoverage.org, provides information and guidance to help consumers quickly understand the basics of health insurance and how to find and select a health plan that’s right for them.

The site was developed by Consumers for Competitive Choice (C4CC) Education Fund Inc., a non-profit organization whose purpose is to provide consumers with information and tools to make informed choices in the marketplace. More than 44 million Americans do not have health insurance and another 25 million have less health insurance than they need.

SimpleCoverage.org explains in easy to understand language, the different types of coverage available and how to find insurance, evaluate plans, and what to expect during the application process. For example, the Web site gives consumers suggested questions to ask when choosing individual medical coverage. In addition to the online information, SimpleCoverage.org offers consumers a downloadable brochure: Health Coverage Made Simple. The site was developed and is maintained with a grant from Assurant Health Foundation.

Check the site out. You may want to include a link on your agency Web site to direct clients and prospects to this information resource.

Posted in Marketing, General, Benefits Management Systems, Agency Management Systems | Print | No Comments »

November 13, 2008 by Steve.

AMS Services has released a new version of BenefitPoint, a Web-based, benefit management and procurement solution for brokers and benefit consultants. The new version of BenefitPoint features deeper integration, enhanced commissions tracking and customization, and new event-driven workflow capabilities.

A new component of the commission tracking system, eStatements, is an electronic statement conversion tool designed for BenefitPoint brokerage clients to upload electronic carrier statement data. BenefitPoint’s eStatements substantially decreases the time spent manually entering statement data and helps prevent typing errors.

BenefitPoint is also nearing completion of its real-time integration with Applied Systems’ Vision product. The state-of-the-art integration synchronizes client, policy, and commission data between the two applications, eliminating double entry. With the new version of BenefitPoint, staff members will enjoy deep functionality and reporting, and automatic flow and merging of information into Vision and the overall production reports.

Posted in General, Benefits Management Systems, Agency Management Systems | Print | No Comments »

November 7, 2008 by Steve.

Once every three years, the Big I asks its insurance company partners, state association affiliates, and other industry organizations to nominate those agencies they believe to be among the most efficient and high performing agencies in the industry for each of the study’s revenue categories. These agencies are asked to submit operational information in many areas. This information is carefully evaluated and ranked, culminating in the choice of the top 30 agencies in each revenue category. These agencies earn the status of “Best Practices Agency.”

Overall, this year’s study shows that agencies are doing much more with fewer people, and organic growth rate is much stronger than expected. When asked the reason for their success, the new crop of Best Practices Agencies said, overwhelmingly, regardless of agency size, “the quality of our people.” This quality can be defined as a strong work ethic, expert knowledge in agency products and services, as well as high ethical standards and dedication. These factors, coupled with advanced proficiency in agency technology, allowed the 2008 Best Practices Agencies to push productivity levels higher than ever.

Although positive revenue growth was difficult to achieve, Best Practices Agencies continued to invest in new production talent. The majority of agencies with revenues over $2.5 million hired at least 1.5 new producers during the last fiscal year, with the largest agencies hiring an average of 9.4 new producers.

The average starting salary across all revenue categories ranged from $52,000 to $95,000. The largest agencies, those with revenues over $25 million, tended to hire more experienced producers, while those in the lower revenue categories tended to hire producers with less sales and/or insurance experience.

The study and a listing of the 2008 Best Practices Agencies can be accessed at www.independentagent.com, www.reaganconsulting.com, or at bp.reaganconsulting.com.

Through this site, you can also view an HTML version of current and past executive updates, download a Best Practices comparison spreadsheet to compare your agency’s year-end results with the study’s results, and access other Best Practices studies, tools, and products and download order forms.

Posted in General, Agency Management Systems | Print | No Comments »

October 16, 2008 by Steve.

During a recent presentation, I noticed a younger person in the very back of the room working on his computer as he was listening to me talk. (And no, he wasn’t taking a continuing education class.) During one of the breaks, he approached me and said, “We have to talk.”

He explained that he had started a new agency less than two years ago that concentrates on personal lines coverages for individuals with high net worth and high valued homes. He had two additional full-time employees and did not have a physical office. He was receiving most of his leads through Internet lead aggregators, such as Netquote and InsureMe.

As I listened to this “20-something” describe his insurance agency, I was struck by his creativity and willingness to expand beyond what had been done in the past. I’ve since started an e-mail conversation with him so that I can explore how he uses technology to support his organization. I wanted to know how he tracks client information. He uses Salesforce.com. Following are some excerpts from one e-mail conversation:

Q: What’s lacking in current agency management systems?

A: Mostly, they are all commercial insurance driven. (And rightfully so… with their distribution model and the fact that 99% of agencies are general in nature… they’d be foolish to make a niche product for personal lines.) If I have to choose to create workarounds in an existing commercial agency management system or just build one from the ground up using my exact terms and processes, I prefer the custom ground up idea.

The major plus of an existing agency management system would be company integration… upload/download. Because I’m so niched… my primary company barely does anything with upload/download as it is. If I download partial information, I’m really not that much better off than downloading nothing. In the end, if I have to log into the company portal to get “real” up-to-date information… download isn’t that impressive. Not to mention that we have a low target for number of accounts… say 300 to 400. With that low number, using a people-driven process to move data from the company to our system isn’t all that impractical… particularly if we move to outsourced/overnight processing either overseas or in our own backyard (i.e. $12 per hour to look at all the changes posted in [the carrier] system and to move that data into our agency management system).

Q: What are the advantages of SalesForce.com?

A: SalesForce’s “Long Tail” model is its biggest strength. Because SalesForce is simply a platform without a predesigned set of usage guidelines, their focus is keeping the main infrastructure on the cutting edge. I’ve been thinking of it like a box of Legos. They’re constantly adding pieces that we can add to our custom build, so long as we don’t “misuse” pieces. The most exciting part is the SalesForce App Exchange. People can build their own apps and customizations and sell them to people using SalesForce. This means if a guy in India wants to make a few bucks, he can build a .wav to text converter that works seamlessly inside SalesForce.

Bottom line

Traditional agency management systems will be around for a long time. Yet, how many young people are entering the industry without preconceived notions of what a data management system should be? Certainly one young agent does not create a trend. That said, this agent is using (and will use) whatever technology platform he can find that will help run his business.

Posted in Cool Tools, General, Agency Management Systems, Opinion | Print | 2 Comments »

October 7, 2008 by Steve.

Jim Kellner, Chairman and CEO of Applied, announced a new agency management system—Applied Systems Epic™, at the ASCnet Users Group annual convention last month. The Applied Epic system has been under development for several years. While the company has tightly controlled information about the new system, some information began to surface several months ago.

During the announcement, Kellner called the new system “a simple-to-use, secure, scalable, rich Internet application that is free of browser-based inefficiency.” Applied Systems Epic is the culmination of “a lengthy and intensive undertaking to create a new system, to construct it on totally new architecture that would be flexible and scalable for any agency or brokerage.”

He emphasized that the new system is not an update of any existing system, including Applied’s 25-year-old flagship, TAM (The Agency Manager®). He said the company is committed to continuing development of TAM as well as its other systems, Vision and DORIS. The Epic system will be in general release in the United States on November 12, and in Canada in 2009. TAAR will take an in-depth look at the new system in a future issue.

Posted in General, Agency Management Systems | Print | No Comments »

September 25, 2008 by Steve.

Cell phones aren’t just used for talking anymore. In a survey conducted by Amplitude Research, buyers of new cell phones look at video capability (33%), music (34%), Internet access (61%), e-mail capabilities (63%), camera (67%), and text messaging (73%) as the most important features. For driving in the car, 62% said they would use Bluetooth, while 51% would use the hands-free microphones.

Forty-one percent said they send or check e-mails one to five times per day, while 28% said they do not use their cell phones for e-mail. Thirty percent said they use their cell phones for banking transactions. As these trends continue, agencies will want to learn how to communicate with their clients in multiple ways.

Posted in Marketing, General, Agency Management Systems | Print | No Comments »

September 18, 2008 by Steve.

As increasing numbers of people use the Internet to find information, savvy producers or staff members should begin creating an online presence. You may need a personal Web site or blog (which can function like a Web site), especially if you will be job hunting anytime soon.

Many recent articles say that, increasingly, job recruiters are placing a heavy emphasis on applicants’ online presence. “Online presence” means how active one is on the Web, including personal Web sites, blogs, published articles, etc. A personal Web site can also be a great way to introduce yourself to potential clients. Writing about risk management issues and the solutions you have created will help you stand out in the crowd of other agents.

If searching for your full name online comes up with nothing, consider buying a FirstNameLastName.com domain. You can create a simple Web site on the domain by publishing copy that explains who you are and what you do—basically a résumé site. Start a blog on that domain or establish a free hosted one on services like WordPress.com and link to it. There’s literally nothing to lose except a few dollars for the domain and hosting. Having a Web site gives you the added benefit of being able to link to your site when commenting on other blogs. This is another great way to gain exposure.

Posted in Cool Tools, Marketing, General, Benefits Management Systems, Agency Management Systems, Opinion | Print | No Comments »