There has been a lot of talk over the past several years – big data, clean data, data this, data that – but how do you put all of the data you already have to work for your independent insurance agency?
Technology Platform We’re Using
Data alone is just that – data. However, if offered in the right format and aligned with a strategy, data is the ultimate business intelligence tool to drive revenue growth through better decision making. To make the complex simple, Keystone leverages an easy-to-use technology platform to help its independent insurance agencies better visual and understand their data. This results in improved agency strategies, benchmarking over like-minded partners, and commercial industry opportunities.
Aside from enhanced insight on agency compensation and risk matching with carriers, agencies are deriving significant value from the platform without having to pull multiple reports or learn programming language. The platform connects to the agency management system and delivers a high-level view of industry and carrier performance within their agency and throughout the Keystone network. When agencies can slice and dice their data into specific views, they uncover a wealth of knowledge.
This level of data filtering provides the insight that allows agencies to generate more revenue by:
- identifying enhanced carrier placement opportunities – by industry or policy type
- determining where business can be consolidated
- being able to align risks with carrier appetites, which results in higher hit ratios
- helping agencies identify and build niche market expertise
- maximizing compensation potential by understanding commission and contingency structures
- enabling an agency to better business plan and monitor strategies while benchmarking key financial data points across the network
As data is easily acquired, we will build intelligence, define trends, and monitor agency and carrier performance across industry and geographic segments. This will help agencies build better business and marketing plans. Together, we’re capitalizing on the development of new products and services.
Agents understand that consultative expertise builds trust with clients (and retention) by offering them a better snapshot into their total cost of risk. The resulting intelligence will further enhance program development, product choice, and empower agents to consult with clients on how to mitigate risk.
Keystone’s goal is to build this platform into one-touch access for all agents, amalgamating sales, service and marketing with strategy – and growth.
If you’re interested in what a Keystone partnership could do for your agency, fill out the Join Us form to contact us today.