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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 ...Read more about WaterStreet

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Jenesis Software

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 trac...Read more about Jenesis Software


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, calen...Read more about NowCerts


Hourly is a time-tracking and payroll management solution that allows small businesses to automatically track time, reduce payroll processing errors, and improve payroll transparency between employer and employee. As a comprehensi...Read more about Hourly

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A1 Tracker

A1 Tracker Contract Management Software is a cloud-based contract management & lifecycle platform. A1 Tracker's features include contract approval workflow, documents, vendors, audits, reminder notifications, templates, certi...Read more about A1 Tracker

Compulife Quote Software

Designed for the insurance industry, Compulife Quote Software is a web-based software that helps businesses with providing quotes for insurance offerings. Compulife Quote Software’s features consist of responsive design, mobile ...Read more about Compulife Quote Software


With nearly 15 years of experience, myCOI pairs advanced, industry-leading technology with deep industry expertise. Our compliance team's document ingestion process, rules comparison, and white glove service uniquely positions our...Read more about myCOI


Eclipse is an insurance agency management system for independent insurance agents with both on-premise or cloud-based deployment. It provides features for single agencies as well as multi-agency locations of all sizes. The sy...Read more about Eclipse


Billy is a risk management solution that helps reduce friction between businesses. You can automate the verification of insurance, licenses and compliance documents of your vendors, suppliers and tenants in minutes. Billy helps ...Read more about Billy

Agency Advantage

Agency Advantage is an agency management software designed to help businesses streamline customer retention and boost sales, profit and renewals. Key features include document management, quotes/estimates, claims management, cance...Read more about Agency Advantage


We are Nest – a company that helps Brokers, MGAs and Program Managers to sell Insurance with our products and components. We believe in simplicity and lower cost per policy. Our customers depend on us to make sure that their syste...Read more about Macaw


MPACS is a complete solution for managing your database of quotations, policies and claims. The software includes rating, documentation, workflow, diary and auditing. On-premises or in the cloud solutions are available. The open A...Read more about mPACS


Insly has provided full-cycle low/no-code insurance software for MGAs and insurance companies since 2014. Insly delivers a scalable solution for C-Suite employees and underwriters looking to launch and distribute new products. Add...Read more about Insly


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 prov...Read more about Surefyre


ProNavigator is purpose-built for underwriters, claims and operations teams, and agencies to organize all of their guidelines, wordings, operating procedures, marketing material and more. We simplify and speed up accessing informa...Read more about ProNavigator


Velocity is a cloud-based agency management system for property and casualty insurance carriers. It helps users handle the needs of general agents, program administrators, wholesalers, carriers, reinsurers and retailers. The core ...Read more about Velocity

Partner XE

Partner Platform’s agency management system (Partner XE) is praised by clients for its ease of use, breadth of capabilities, and long-term affordability. Built for the agency that cares about community values and is tired of the s...Read more about Partner XE

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 managem...Read more about ISI Enterprise

Better Agency

Better Agency is a web-based insurance CRM designed to help property and casualty insurance agents manage leads, campaigns, conversion tracking, reviews, claims and cross-selling. Key features include document management, insuranc...Read more about Better Agency


Surfly provides co-browsing and collaboration technology that lets you upgrade any conversation, from any channel as if you are sitting side-by-side. Co-browsing session instantly begins in a browser window using a link or clickin...Read more about Surfly

Buyers Guide

Last Updated: March 16, 2023

If there's one thing that everyone can agree on about insurance, it's that the industry is complicated. From the most basic, stripped-down health insurance policy to the most expensive corporate liability package, every policy has a multitude of details that need to be worked out by agencies, pored over by policy holders and regulated by the government.

Fortunately, just as insurance policies have grown more complicated over the years, the types of software created to help manage those policies have become more sophisticated. This makes keeping track of the various pieces of policies much easier for insurance agencies like yours, so that they can provide better service for their customers and policy holders.

This buyer's guide will explain how insurance policy software can help your insurance agency develop, administer and manage policies, so you can save time and simply focus on your agency's core processes.

This software exists either as stand-alone systems or as a part of a larger suite of insurance software.

Here's how we'll break down our discussion of this software:

What Is Insurance Policy Software?

Common Features of Insurance Policy Software

What Type of Buyer Are You?

Key Considerations

What Is Insurance Policy Software?

Insurance policy management software breaks down into two key processes—creating policies and administering/maintaining policies.

Although most insurance policy software will allow you to do both of these things, we've broken down our description of the software into these two key features, since they can look different in practice.

Policy Creation

Insurance policy software can provide you with the tools you need to develop new types and tiers of policies to present to buyers. The software will help you design different types of attractive insurance packages, calculate and weigh the costs and profit margins of those packages and keep careful records of all policies that get issues to clients. Some advanced systems even have databases of pre-existing policy templates that you can customize to create the right product for your agency.

Policy Administration

Keeping track of insurance policies can be as daunting a task as creating them, which is why the software will help you with this side of your business, too. Tools will help you to provide timely and accurate quotes, handle claims, track customer history and issue bills.

Additionally, this part of the software system can help ensure that your policies are in adherence with all applicable local, state and federal regulations.

Common Features of Insurance Policy Software

Policy creation

Provides a centralized database that houses all of your agency's policy types, along with a library of templates that you can use to create new policy packages.

Policy issuance

Enables you to issue policies to customers more efficiently, making it quicker and easier to provide quotes, calculate rates, create contracts and get them signed; field customer inquiries; and track all policies once they've been issued.

Compliance management

Helps ensure that all of your issued policies are compliant with all legal and industry regulations on the local, state and national level.

Claims tracking

The key feature of insurance policies is how well they handle policy holder claims, and tools within the software will make this process easier for both you and your customers. Automated filing and cross-referencing will make filing claims and issuing payment quicker and more efficient.

Customer portal

Provides an online portal that your customers can access to manage their policies and accounts. This can save you a lot of time and money in customer service phone calls, while also increasing your customers' satisfaction rate.

Billing and accounting

Automates the billing of your customers so you can save time and money, while improving accuracy. You can also automate features of your accounting in order to track both overall profits and the profit margin of individual policies.


Vertafore Agency Platform's interactive policy builder page

What Type of Buyer Are You?

Insurance agencies, because they require so much capital to be on hand, tend to be medium to large sized companies. As such, few insurance policy software packages are designed for small businesses, and many only cater to enterprise-level agencies.

Your insurance agency may fall into one of the following categories with specific software needs:

  • Health insurance provider. Health insurance can be among the most complex type of policies, so you will likely want to get the most robust, feature-rich software suite possible. Given the immense body of law surrounding health insurance, you will especially want features that enable you to maintain compliance.

  • Life insurance provider. Because of the financial complexities often tied up in life insurance (including, and especially the high payout for those policies), you will want to make sure that you have a system that has strong accounting features.

  • Auto insurance provider. The ability to provide a quick quote and easy claims process will be of key importance in this market, since it is so highly competitive amongst consumers.

  • Homeowners insurance provider. Similar to auto insurance, you will want to be able to quickly and competitively provide a realistic quote to applicants.

Key Considerations

Other factors to take into consideration when picking the best policy management software for your business may include:

  • Integration with other systems. Your insurance policy software may be part of a larger, integrated insurance suite, but if it is a stand-alone package you need to be sure that the software you purchase can integrate with other systems you'll be using. You'll need to be able to check policies against your accounting or your customer relationship management (CRM) software, for example, and the two programs must be compatible in order to work together. Make sure you talk to vendors about how well their software will integrate with these other systems.

  • Cloud-based versus on-premise software. In the past, most software was hosted by businesses on their own premises. This meant that a business would purchase dedicated hardware along with their software so that they could run the software's programs. Such a process required businesses to have the space to host extra servers, as well as the IT resources and knowledge base to set up and maintain the system. Today, it is far more common (though not universal) to find vendors providing their software via the cloud. This means that businesses have no need to host the software themselves, and instead access it via the internet. This costs less up front and limits the amount of time and money that must be dedicated to IT upkeep. Be sure to check with vendors as to how their software will be hosted.