Agency Management Systems (known as AMS) are among the most useful software tools an agency can take on. An AMS is similar to Customer Relationship Management (CRM) software except that they can handle a deeper level of automation.

Agency Management Systems are pieces of software that function as an automation system for an agency at every level. AMS can be customized to function as a system for either life and health insurance agencies or casualty and property-based agencies.

If you've never heard of an AMS, you might be missing out on a major tool you could use to expand and streamline your agency business. Read on to learn more about agency management systems and how to choose one for your agency.

When you think of scaling insurance what comes to mind? You have built this great business but you want to add more value to your business. When you own your insurance agency, you know that as an entrepreneur you have to stay on top of things regarding your business.

You have to make sure the needs of your customers are met, which means the more value you have to offer your customers, the more customers you will get signed with your insurance agency. So what does it all mean and how do you go about scaling your insurance agency and building a great business?

New insurance agents need to understand what it takes to succeed in the insurance sector. An insurance agent can find success when they set reasonable expectations, develop a robust support system, and focus on putting their customers' needs above their own.

It is estimated that new insurance agents experience a 30% to 50% success rate, with this figure gradually dropping over time. The rate can vary depending on various factors, including the amount of training the agent receives, mentorship available, and the agent’s overall outlook.

Insurance can be a lucrative career path, but you must be willing to put in the hard work to get there. Training, networking, and the never-ending desire to deliver good service are critical factors that can impact an insurance agent's success rate.

Sales is about so much more than just closing a deal, and there are many technological solutions out there to help you not just make that sale but to foster relationships that will yield long-term benefits for both you and your clients. Currently, two of the most popular options out there are agency management systems and customer relationship management (CRM) software.

The difference between agency management systems and CRM lies in the functionality. Agency management systems are a type of CRM but gives you a deeper dive into more than just sales. It helps you organize your total business. Which is better depends on what you want to do with this tool.

Knowing your numbers and how to calculate the most important statistics in your agency will be integral to your success.