The new technology trend in the insurance industry is automation.
You've probably already experienced the benefits of automation even if you’re not in the insurance industry. Automation is a technology trend that's been making waves across many different industries such as construction, property management, brokers and insurance agents for some time now.
The most significant way automation has impacted our society is through self-service models—where customers are able to interact with business processes more intuitively without requiring human intervention. These processes have increased productivity while reducing costs. Embracing automation technology is critical for your business to grow faster and stay competitive in the market.
Automation technology is at the core of your business’s ability to grow. However, many insurance agents are hesitant to adopt automation because they believe that it will cause them to lose control over their data or miss out on building relationships with customers. In reality, these objections are unfounded and can be easily addressed through proper planning and training.
The benefits of automation include:
- Improved efficiency (saving time)
- Enhanced quality (fewer mistakes)
- Reduced costs (less need for manual labor)
It's important to stay competitive in today's fast-paced environment. And it's critical to grow your business as quickly as possible while maintaining reliability and accuracy. For many insurance agents and brokers, automated software for COIs is becoming a standard.
Software automation provides insurance agents with a powerful tool to save time, which they can use in a variety of ways. First, saving time means you have more clients. More clients mean more business, which increases revenue and profits.
Automate what you can to grow your business with confidence.
What Automation Can Do for You?
Automating the Certificate of Insurance (COI) process is a win-win for all.
The Certificate of Insurance (COI) process is often manual, which means it can be inefficient, costly and time-consuming. Automation requires an investment but there are four primary reasons why automation is key to success - speed, consistency, compliance and efficiency.
There are many reasons why automation is key to success including:
- More efficient and reliable. By automating your business processes, you will have less human error, which means fewer delays. Plus, if something goes wrong in the course of an automated process (which does happen), it's easier to identify where it went wrong and fix it quickly without having to start from scratch.
- Reduces errors. Automation allows you to be much more precise when entering data like COI systems or claim management platforms because there are fewer chances of mistakes occurring during data entry due to human error—which means more accurate information gets stored in these databases!
- More cost effective. Avoid penalties and administrative overhead.
Investing in automating insurance certificate tracking and management can assist brokers and agents in streamlining their processes and supporting their clients.
The Solutions: PINS
PINS software streamlines COI mangement making it easier than ever for Insurance Agents and Brokers to upload and track certificates of insurance.
- Renewal Notifications: Automatically set renewal emails to trigger whenever renewals are need, looping in Agents and Insureds for seamless updating
- Easy Uploads: Subcontractors, Vendors and Agents can all easily log into PINS to provide insurance documentation, at no extra cost.
- Verify Requirements: Agents and Brokers can easily see documents required and submit multiple certificates at once.
- Get the Status: PINS allows Agents & Brokers to get real time status updates on their submissions, and notifications for upcoming policy renewals.
See how PINS can help you increase productivity with automation today!