Selling insurance is uniquely complicated. Every insurance agency deals with immensely complicated tasks. For instance, agents must process claims, and renew customer policies on an ongoing basis. They also need to manage teams, vendors, and customers. Their day-to-day operations have too many arms and complexities. Therefore, apart from strong sales and marketing efforts, it needs a centralized system that keeps the whole process optimized and organized.

Insurance Software helps agents, brokers, and  agencies streamline their operations and save time and cost. The administrative services provided by an insurance software includes underwriting, issuing policies, managing teams, tracking claims, complying with regulations, and updating policy information. 

Plug- Manage your sales, marketing, projects & team on ONE platform for just $39/month 

Best Commercial Insurance Software

1. EZlynx:

 EZlynx is a cloud-based solution that helps insurance agencies streamline processes related to online quoting, lead management, customer retention, email marketing, and more. It actively develops industry-leading cloud-based software for the insurance industry. Managers can generate reports to gain insight into agent performance, daily marketing activities, and customer behavior. Plus, users can create and run various email marketing campaigns related to birthdays, renewal reminders, and more. With its mission to address industry issues in mind, they set out to fully automate the exchange of information between the insurance carrier, independent agent, and end consumer.

PROS

• It’s Rating Engine feature enables insurance agents to generate accurate, real-time quotes from multiple insurance companies sites with a single data entry point.
• Easy commission payout system,
• Helps organizations communicate with leads via personalized emails and launch marketing campaigns.

CONS

• Bad user interface
• Limited integrations
• Complicated reporting

Pricing- Undisclosed

2. BindHQ:

BindHQ is the seamless quoting, policy-issuing, business- binding insurtech empowering tomorrow’s leading MGUs, MGAs, and wholesale insurance brokers to produce more in a fraction of the time. It currently processes over $400 million in transactions each year for some of North America’s fastest growing insurance wholesale intermediaries. As an all-in-one cloud-based solution, BindHQ enables its users to work any time, anywhere, and on any device, and provides configurable and intuitive business workflows that reflect how specialty insurance intermediaries need to conduct business in the 21st century.

PROS

• Simple and easy to navigate
• It has a market leading API to easily integrate with third integrations
• Enables users to digitally on-board employees and clients faster and more efficiently

CONS

• Lack of training/tutorial options
• Premium and additional features cost extra

Pricing- Pricing starts at $275 per month.

3. Surefyre:

Surefyre is a cloud-based software platform used by insurers, MGAs, and agents to easily work directly with each other, quickly close business, underwrite, manage policies, and much more. It  allows insurers, agents, and eventually policyholders to easily connect and do business without thinking about technology. The application retains customer information by automatically generating personal and commercial policies whenever new leads are added to the system. This allows agents to receive a commission on all sales generated after sending just one lead.

PROS

• The built-in progress dashboard enables agent to track their monthly progress.
• Good customer support
• User-friendly system that allows integration with other systems for enrollment services.
• Fully customizable

CONS

• Occasional glitches
• Difficult to setup

Pricing- Undisclosed

4. Innoveo:

Innoveo’s mission is to empower enterprises in complex and regulated ways to reimagine application development. Backed by leading investors including Everstone Capital and Paulson & Co, Innoveo’s cloud based, AI enabled no-code platform is currently in production globally at over 30 industry leaders across insurance, financial services, healthcare and real estate. It provides the ease and affordability of an out-of-the box marketplace for brokers combined with the ability to customize and configure the platform for your agencies product lines, carriers, and branding.

PROS

• User-friendly interface
• Ease of integration with third party sites
• Good customer support

CONS

• Documentation is not too clear
• SOAP service configuration is slightly complicated

Pricing- Undisclosed

5. Tigerlab:

Tigerlab is the software provider (white-label solution) of successful insurance companies, MGA’s, brokers and intermediaries. They create a powerful All-In-One web-based insurance software for their clients. It provides a self-configurable, API-driven and intuitive insurance system that is built for insurers and digital businesses of all sizes. 

PROS

• Simple and easy to use
• Quick  customer support
• Configurable reporting
• Helps to manage complicated business workflows

CONS

• Less customization features

Pricing- Undisclosed

6. Life Design Analysis:

Life Design Analysis is a cloud-based sales and productivity software for insurance carriers, distributors and advisors. It is designed to increase revenue, save time and help automate compliance. Their goal is to help your clients understand their insurance options, with a feature set that adds value at every level of the life insurance distribution chain. It lets you mine policies, so you can search, analyze, and create custom presentations of the insurance options available.

PROS

• Client and policy management
• 30-days free trial available
• Affordable pricing
• Customizable and visual reports

CONS

• Bad user interface
• Complicated learning curative

Pricing- Pricing starts at $59 per month.

7. AgencyBloc:

AgencyBloc was built to make insurance agents’ lives easier. This easy-to-use commercial insurance software makes managing clients, prospects, and agents simple. AgencyBloc provides real-time updates to the product based on client feedback. It helps you grow your business with an industry-specific CRM, commissions processing, and integrated business and marketing automation. 

PROS

• Good customer service
• Easy learning curative 
• Efficient workflow automation
• Unlimited off-site storage and data backup

CONS

• Limited third party integrations

Pricing- Pricing starts at $70 per month.

8. Vertafore:

Vertafore is an agency management software, which helps independent insurance agencies, brokers, and businesses of all sizes manage policies, renewals, customer retention, employee productivity, and more. The platform lets organizations create customizable workflows to assign tasks, track progress, and streamline staff activities. It allows staff members to view and track daily tasks using dashboards and enables managers to capture data from multiple sources, generate reports, and analyze information using sorting and filtering capabilities. It also offers an API library to facilitate integration with various in-house and third-party applications.

PROS

• Simple and easy to navigate
• Fully customizable
• Documentation features

CONS

• Accounting feature not up to the mark.
• Expensive

Pricing- Undisclosed

9. HawkSoft:

HawkSoft is an insurance agency management system that offers a comprehensive suite of tools such as client relationship management, claim tracking and auditing, policy management and more. Since 1995, they has been a leader in management systems for agencies that want effective workflows, refreshing experiences for staff and policyholders, and tools to build meaningful relationships. They take pride in being independently owned and answerable to agencies that rely on their system to power their insurance business. Created by independent agents, HawkSoft continues to evolve as a cutting-edge system that powers thousands of agencies.

PROS

• User friendly interface
• No long-term contracts
• Automatic documentation

CONS

• Difficult to setup

Pricing- Undisclosed

10. Bitrix24:

Bitrix24 is a popular tool for insurance brokers. It provides a complete suite of social collaboration, communication and management tools for your team, including CRM, files sharing, project management, calendars, and more. It simplifies communications with social features such as liking and comments and automated processes such as notifications, subscriptions to discussions or groups, and assisted reporting. 

PROS

• Its data cataloging system maintains high scalability
• Great group administration and worker timesheets framework
• Availability of internal chart and social network elements
• Multi-language support available

CONS

• Reporting capabilities are limited
• Confusing interface

Pricing- Pricing starts at $39 per month.

Conclusion

We have compiled a list of 10 Best Commercial Insurance Software based on user reviews, features and pricing. If you think we have missed out on a good Commercial Insurance Software company, feel free to let us know.

Send an email to: atouf@teamwave.com