Key requirements of insurance broker software

Health insurance industry is very dynamic and is growing at a rapid pace. With ever increasing client pool and large amounts of financial and client specific data, brokers may feel the need for an automated application to manage this data efficiently. Insurance broker software is particularly designed keeping the challenges that brokers face in mind.

Brokers and agents help individuals, groups, employers and senior citizens choose and apply for a health plan of their choice. Brokers and agents need to be extremely careful with clients’ personal and financial data. Web-based insurance broker software can be deployed on brokers’ machines or the brokerage firms with which the agents and brokers are affiliated with.  Here are a few key features important for insurance broker software:

Web-based – Insurance agent software needs to be web-based to allow brokers access to the portal at any time from any location. Brokers can update the client’s personal and financial data online sitting at client location, thus ensuring no integrity loss in the data.

Customer Relationship Management (CRM) tool – Brokers and agents’ relationship with their clients is based on trust and convenience. A CRM tool can help brokers maintain and manage client data effectively and helps agents keep track of sub-brokers’ activities. Not only this, insurance agent software equipped with a CRM tool can help brokers keep track of clients’ pending payments and set up future reminders or notifications for future.

Online plan manager – An online health plan tracker and manager utility allows brokers and agents to keep track of any new health plans introduced by insurers. Through insurance agent software, agents can search for health plans online, check eligibility for plans and apply for a plan on behalf of their clients.

Automated proposals – Agents and brokers should be able to generate and mail automated health plan proposals to their clients. A web-based portal would help agents keep track of proposals already sent or scheduled to be sent to clients.

Any good quality insurance broker software needs to have at least these basic features in order to service their clients better.