Agency management systems like NextAgency’s Next Broker can help insurance brokers run their shops more effectively and efficiently. This means you spent more time selling and servicing clients and less time looking through files, Post-It notes, a mishmash of spreadsheets and the like.
When agency management systems deliver commission tracking, as NextBroker does, your bookkeeper spends less time generating checks for sub-agents and finding cases you weren’t paid on, so can spend more time doing … whatever it is bookkeepers do.
Agency management systems help you track prospects through the sales cycle and keep track of the status of clients. They keep all your agency, carrier and client documents available to everyone on your team who needs them (and accessible only to those who need them) 24 hours a day wherever they are — at the office, home or on the road.
Agency management systems keeps contacts close at hand. They help you and your team keep on top of quotes, proposals and enrollments. In short, agency management systems save you and your team time. As time is money, this means you have more resources to devote to acquiring new clients and keeping in touch with those you already have.
In other words, agency management systems like NextBroker can help you grow your business – if you’re ready to embrace the technology. And that is the key question: Are you ready for an agency management system?
When evaluating any technology it’s a good idea to know where you are on the technology adoption curve. This graph was popularized by Geoffrey Moore in his book Crossing the Chasm. He described five groups, each with its own attitude toward new technologies.
Innovators, according to Moore “pursue new technologies products aggressively.” They’re often technologists, comfortable with tweaking and hacking their way through something new. If it doesn’t work, at least they had fun.
Early Adopters understand, appreciate and embrace what new technologies can do, but they’re not technologists. They look before they leap, but are eager to embrace what’s new and exciting. They seize value before most of their competitors.
Early Majority consumers also perceive the value of new tools, but they’re a bit more practical than the first two groups. They want to avoid fads. They wait a bit longer to make sure a new technology is on solid footing. They rarely buy technology that doesn’t last.
Whereas Early Majority consumers are comfortable using technology, Late Majority folks are not. They’ll wait until a given technology has become standardized, simplified and strongly supported. They want safe technology and. adverse to any bleeding, avoid the cutting edge.
Then there’s the Laggards, people who want nothing to do with technology. They prefer their innovations baked in and invisible. They bought cordless phones only after they couldn’t find those with cords.
There’s nothing judgemental about being at any of these five stages. In fact, most people are all over the curve depending on the technology. An individual may be an Early Adopter when it comes to agency management systems, but a Late Majority when it comes to using electronic payments like Apple Pay. What matters is where you are on the bell curve in relation to any particular technology, in this case agency management systems.
Those on the left side of the bell curve are willing to embrace new technologies early in their development. They know there will be gaps in functions and maybe even bugs. They’re confident issues will get fixed. They value what the technology delivers today and can see that it will get better over time. They tolerate the occasional hiccup.
Those on the right side of the graph need a much more polished experience. They don’t want any bumps. The technology needs to do everything right and do it right out-of-the box. They value a hassle-free experience over the value a technology delivers.
Knowing where you are on the curve will help you avoid investing time and money in technology that you won’t use. If you’re a Laggard that uses technology only if there’s no alternative, you’re not going to be interested in something new and different, even if it’s objectively better. If your system of 3×5 cards is working, why change to an agency management system?
Be aware of where you are on the curve, but don’t be too cautious. In a study I did of over 200 insurance sales professionals (described in my book Trailblazed: Proven Paths to Sales Success) there was a high-correlation of high-growth producers embracing technology sooner rather than later. Brokers experiencing strong year-over-year sales growth tended to be either Innovators, Early Adopters or Early Majorities.
A strong agency management system can help most any insurance team sell more, service better and grow quicker, but only if it’s used. We designed NextBroker to be easy to adopt and easy to use. (Join us for a demonstration at one of our regular webinars by visiting NextAgency.com). But that doesn’t mean we’re the right solution for everyone. We’re new and, we think, better. But if you’re adverse to moving your client, carrier and agency information online or getting in the habit of entering notes so everyone on your team knows what’s happening with every client, then you’re probably no agency management systems is going to be right for you.
The best technology in the world won’t help your business if you don’t use it. To know whether you’ll use it before you buy it, know where you sit on the adoption curve in relation to that particular technology. So if a tool that helps you grow your business by freeing up time for more selling and service sounds interesting to you, then please do check us out at www.NextAgency.com.