[PDF Download] Agency Management System vs. CRM Checklist

The two main ways life and health insurance agencies manage their books of business are via an industry-specific agency management system (AMS) or a generic CRM. This checklist will help you determine your needs and wants in a new system and whether an AMS or CRM is the right fit for you.

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What's the right fit for you?

In recent years, there has been a significant shift in how health and life insurance agencies manage their books of business. In this move, agencies are switching from manual methods (like paper or spreadsheets) to software that helps them track their books of business, expand their agencies, and achieve their goals. 

The main two options agencies move to are an industry-specific agency management system (AMS) or a generic CRM. This checklist will help you understand what each type of software offers broken down into four sections:

  • Accessibility & Security
  • Features & Capabilities
  • Marketing & Communication
  • Commissions Processing

Use it to identify your agency's needs and wants to ensure you make the right decision. Plus, a checklist is included for you to use each time you demo and vet a system with an extra note page for you to keep everything straight!

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Why are agencies moving?

Agencies move to new management software usually because their current solution isn't helping them meet their goals. Many choose an AMS because it provides them with the ability to work from anywhere, be more effective with their efforts, and make their processes more efficient.

What are the main differences between an AMS and a CRM?

The three major ways an AMS generally suits an insurance agency better than a CRM are: specificity, totality, and productivity. An AMS is made for your specific industry needs whereas a CRM is generic, and not accommodating to any specific industry. 

How does commissions processing factor into the equation?

Generally, most CRM solutions do not have a platform for commissions processing. Usually, you have to hire a developer to build one out, run commissions-only software in parallel, or manually track your commissions via spreadsheets.