Insurance Software

Finding software can be overwhelming. Software Advice has helped hundreds of agencies and brokerages choose the right insurance software to manage policies and claims info and better serve customers.

Showing 1-20 of 35 products

Applied Epic

Applied Epic is a cloud-based insurance solution that assists agents, brokers, insurance providers and consumers with the exchange of insurance data and information. Key features include policies and benefits administration, license... Read more

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Recent recommendations: 24 recommendations

Platforms: MacWinLinux
Deployments: Cloud, On premise
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Jenesis Agency Management

Jenesis is a cloud-based solution that helps insurance agents manage personal and commercial lines and obtain new potential customers. Key features include claims management, rating engine, policy processing and reinstatement tracking. Designed... Read more

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Recent recommendations: 18 recommendations

Platforms: MacWinLinux
Deployments: Cloud, On premise
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BindHQ

BindHQ by Owsy is a cloud-based insurance solution designed for specialty insurance distribution. The solution is built to serve wholesalers, managing general agents (MGAs) and managing general underwriters (MGUs). Key features include... Read more

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Recent recommendations: 1 recommendations

Platforms: MacWinLinux
Deployments: Cloud, On premise
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Partner XE

Partner XE is a cloud-based insurance agency management system for independent agencies. Partner XE offers accounting, claims management and policy management. Using the system's integrated accounting functionality, users can manage... Read more

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Recent recommendations: 1 recommendations

Platforms: MacWinLinux
Deployments: Cloud, On premise
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DRC

DRC's insurance system is a cloud-based insurance solution that enables property and casualty insurance businesses to manage their policy quotes, ratings, billing and claims. The solution offers features for brokers, carriers and policyholders. DRC... Read more

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Platforms: MacWinLinux
Deployments: Cloud, On premise
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WaterStreet

WaterStreet is a cloud-based insurance solution designed primarily for sectors such as property and casualty insurance.  WaterStreet provides tools to manage quote-to-claim policy lifecycle support, a configurable rule-based structure,... Read more

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Platforms: MacWinLinux
Deployments: Cloud, On premise
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NowCerts

NowCerts is a cloud-based insurance solution designed for insurance agencies of all sizes. Key functionalities include commission tracking, task management, claims management, reporting, self-service certificates, reminders, calendars,... Read more

Platforms: MacWinLinux
Deployments: Cloud, On premise
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AgencyBloc

AgencyBloc is an agency management software for life and health insurance agencies looking for a more effective way to increase company's profitability, enhancing customer satisfaction and controlling costs in today's competitive market. The... Read more

Platforms: MacWinLinux
Deployments: Cloud, On premise
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HawkSoft

HawkSoft is an insurance management solution designed for independent agencies. HawkSoft offers workflows for commercial and personal lines and an auto-documentation process that builds a trail of every client interaction. HawkSoft’s... Read more

Platforms: MacWinLinux
Deployments: Cloud, On premise
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Applied Rater

Applied Rater is a cloud-based insurance rating and quoting solution that helps businesses to present insurance rates to their clients. It integrates into agency websites and management systems, providing users with a single point... Read more

Platforms: MacWinLinux
Deployments: Cloud, On premise
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Agency Suites

Agency Suites is a cloud-based workflow management solution from EZLynx that integrates user websites with consumer quoting and client centers. Users can connect to the solution from home, office or mobile devices. The retail packages... Read more

Platforms: MacWinLinux
Deployments: Cloud, On premise
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EZlynx

EZLynx is an insurance agency management software that streamlines all agency workflows. It provides back-office management features, CRM, and marketing automation tools that help agents strengthen relationships with customers and... Read more

Platforms: Win
Deployments: Cloud, On premise
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Surefyre

Surefyre is a cloud-based customer relationship management (CRM) solution designed for the needs of insurance agents. It is suitable for multiple types of carriers, including property, casualty, life and health care insurance providers. Key... Read more

Platforms: MacWinLinux
Deployments: Cloud, On premise
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ISI Enterprise

ISI Enterprise is a cloud-based insurance solution that assists businesses in policy administration, billing, claims and other related services. Key features include reinsurance management, a policy rating engine, document management... Read more

Platforms: MacWinLinux
Deployments: Cloud, On premise
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Applied CSR24

Applied CSR24 is a cloud-based self-service customer portal for insurance companies. It offers clients online and mobile access to an organization's policies' information. Key features include document management, claims management,... Read more

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Platforms: MacWinLinux
Deployments: Cloud, On premise
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Adaptik

Adaptik Suite is cloud-based and on-premise insurance software designed for property and casualty (P&C) insurers. Businesses can use the integrated suite for managing claims, administering policies, billing customers and much more.... Read more

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Platforms: MacWinLinux
Deployments: Cloud, On premise
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InsuranceSuite

InsuranceSuite is an insurance management solution that helps agencies streamline operations and manage claims, bills and receivables, as well as underwriting and policy administration. The solution can be deployed in the cloud and... Read more

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Platforms: MacWinLinux
Deployments: Cloud, On premise
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Nexsure Agency Management

Nexsure Agency Management is cloud and mobile-based agent management solution, which helps manage, improve and accelerate the growth of insurance-related operations. Designed primarily for brokers, agents, wholesalers and program administrators,... Read more

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Platforms: MacWinLinux
Deployments: Cloud, On premise
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Vertafore Agency Platform

Vertafore Agency Platform is a cloud-based insurance management solution designed for insurance companies of all sizes. It offers accounting, customer management, document management, policy management and reporting within a suite.... Read more

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Platforms: MacWinLinux
Deployments: Cloud, On premise
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SchemeServe

SchemeServe is a cloud-based insurance solution designed for insurance organizations, managing general agents (MGAs) and brokers. Features include cancellation tracking, claims tracking, policy generation, a rating engine, reinsurance... Read more

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Platforms: MacWinLinux
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Buyers guide


Last Updated: May 29, 2019

Despite a slew of challenges in recent years—government regulations being constantly in flux, homeownership rates declining—insurance companies continue to survive in an increasingly competitive and complex industry. In some cases, they're even thriving: The global insurance industry is expected to grow 4.5 percent in 2017 and 2018.

Does that mean it's time to be complacent if you're an insurance carrier, agency or brokerage? No way.

Your business won't last long in this day and age without being able to manage a growing policy volume, while still meeting the increasing demands of digital-savvy customers. In a recent report, global consultancy Ernst & Young said having the right technology in place is vital to gaining a competitive advantage in the insurance industry moving forward:

“To meet changing expectations, insurers need to digitize interactions with customers, employees and suppliers. Building new distribution channels and working closely with existing distribution partners to enhance the customer experience is a strategic imperative."

This is why you should consider investing in insurance software—systems designed with the specific needs of insurance carriers, agencies and brokerages in mind.

In this Buyer's Guide, we'll explain what insurance software is, what common functionality to look out for, how much it costs and everything else your insurance business needs to know before making a purchase decision.

Here's what we'll cover:

What Is Insurance Software?
Benefits of Insurance Software
Common Insurance Software Functionality
How Much Does Insurance Software Cost?
Key Considerations When Purchasing Insurance Software

What Is Insurance Software?

Insurance software is designed to help insurance carriers, agencies or brokerages manage their day-to-day operations. On the administrative side, these systems can help you keep track of policy and claims information, manage your teams and more. There's a client side to this software as well, which allows your customers to log in and do things such as check their policy information, fill out forms and make online payments.

Combining business process management (BPM) and customer relationship management (CRM) functionality, insurance software can act as the digital hub to facilitate all of your company's primary insurance processes.

Claims management in Insly

Claims management in Insly

Benefits of Insurance Software

Dedicated insurance software can provide numerous benefits to your insurance company over more manual methods such pen and paper or spreadsheets. With an insurance software system in place, you can expect:

  • Improved operational efficiency. Being able to house all of your information in one easily searchable database and automate tedious processes related to billing or reporting can save your business a ton of time.
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  • Increased data security. Sensitive customer or carrier information shouldn't be held in easily crackable spreadsheets. Encryption and user authentication capabilities found in insurance software can keep your data safe.
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  • Better regulatory compliance. Staying on top of ever-shifting regulations through manual methods can be an incredible time suck and result in costly errors. Insurance software can automatically highlight any areas that need your attention.
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  • Fewer breakdowns in communication. Features such as task management, automatic notifications and communication tracking can ensure that nothing falls through the cracks working with customers, carriers or otherwise.
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  • The ability to provide superior customer service. Insurance buyers rely on you to provide quick, accurate assessments of their situations, and the ability to perform self-service requests on their own time. Insurance software can allow for this.

Common Insurance Software Functionality

When researching different insurance software systems, you'll find a lot of variance in functionality. Some systems focus on breadth of functionality, acting as comprehensive software suites that can do everything your insurance business needs, while others focus on depth of functionality and being able to do one thing really well.

With that in mind, here is some of the most common functionality you can expect to find:

Policy management Create, administer and manage insurance policies for various customers and insurance lines.
Claims management Manage customer claims information and track the status of claims that are being processed.
Billing Create and send invoices, process insurance payments and manage customer billing information.
Rating Enter customer information and receive quotes from partnered insurance carriers in real time.
Underwriting Define formal rules for insurance coverage company-wide. Enter prospective client information to determine risk of insuring.
Analytics and reporting Analyze trends to discover instances of fraud, risk prevention or revenue opportunity. Generate standardized reports.

How Much Does Insurance Software Cost?

Another trend you'll notice when researching insurance software is that many vendors aren't completely transparent about pricing on their websites. This happens for a number of reasons—the vendor might be trying to get you on the phone to sell you on their product, or their system might have so many customizable options that the cost varies wildly from customer to customer—but it's frustrating nonetheless.

Most insurance software vendors charge a per-user subscription fee. This means you pay a recurring fee (usually monthly) that changes depending on how many people in your company are using the system. The monthly fee can range from around $30 on the low end to $150+ for more advanced systems.

The license cost isn't the only one to consider either. Vendors may also have recurring support costs or one-time upfront fees for services such as implementation, data migration or traini