The Anderson Report on Agency System Selection Now Available

I am pleased to be able to announce the official release of the updated Anderson Report on Agency System Selection. The information available in this special report has taken me years to learn. See the press release below for detailed information. Feel free to contact me if you have any questions.

Technology Anxiety? New Anderson Report
Helps Agencies Select Management Systems

NASHVILLE, Tenn. (November 30, 2009)—The continuing soft market and recession are putting the squeeze on independent insurance agents and brokers, causing a 2.8% job loss rate for agents and brokers in the past year, according to the Bureau of Labor Statistics. Streamlining is the key, but agencies need to stay up on technology to compete, says Steve Anderson of The Anderson Agency Report.

Anderson recently introduced a special report to aid agencies in that evaluation and selection process. The Anderson Report on Agency System Selection (www.AgencySystemSelection.com) walks agencies through the process, reviewing the specific technology-vendor options available for firms of any size.

“The problem we find from our surveys and client interactions is that the whole technology realm is too complicated and too expensive for many agencies to grapple with during an economic downturn,” says Anderson. “They simply don’t have the resources for a costly team of tech evaluators right now.”

A recent study found that 59% of insurance executives are unhappy with their existing systems, and agencies are looking for ways to improve their technology without breaking the budget, Anderson says.

Choosing an agency management system can be difficult. “The expertise of insurance agencies is selling insurance; computer concepts and terminology can be intimidating to agency owners, managers and users alike,” the report says. “In addition, despite industry consolidation over the years, agents still face a wide range of choices in the technology marketplace.” There are more than 30 options, and each has its particular advantages and disadvantages depending on the carriers represented, number of employees, mix of agency business, and number of locations, to name just a few, Anderson says. For example:

• Should the agency stay with the current vendor and upgrade the software? Or should it look at an entirely new system from another vendor?
• What real benefits will the agency obtain from specific system features?
• Is the agency capable of maintaining its own system, or should it let someone else manage the computer systems by going with a hosted system (known as software as a service, or SaaS)? Who will watch over the system?

Agencies can walk through a standard process on their own to evaluate different vendor systems and pick the one that’s best for their agency, says Anderson. In general, the firm must determine where it is now and where it wants to go. Then it can begin to evaluate what system would best fit into its current operations—or best replace a system with which it is unhappy. “The purchase of an agency management system is not first and foremost about computers,” says the report. “It’s about the agency, the way it operates now, the way it will operate next year and the years beyond. A detailed system review is an opportunity for an agency to closely examine its business and make decisions about the kind of agency it wants to become.”

Anderson has developed a five-part course on how to go through the agency system selection process. The course—currently free—is e-mailed in five segments. Agents can register to receive the e-mails (one a day for five days) by going to http://steveanderson.com/choosing-the-best-agency-management-system/.

About Anderson: Based in Nashville, Tenn., Steve Anderson (www.SteveAnderson.com) is one of the insurance industry’s top consultants and speakers. He delivers keynote addresses, lectures, seminars and conference programs, in addition to individual agency consultations, helping clients maximize productivity and profits by smart use of technology. He is executive editor of The Anderson Agency Report (TAAR), a monthly newsletter dedicated to providing independent agents with the technology information they need to more effectively manage and grow their agencies. He is also president of The Anderson Network, Inc., which was formed to help agents and brokers maximize productivity and profits using practical technology. A licensed independent agent for more than 30 years, Steve has worked as a manager and producer in two agencies.

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