Brokers & MGA's
Proven Data Migration Options
In order to drive sales, brokers need quality data to provide a personalised service. Your accumulated data is a key asset and an invaluable resource which can all be integrated and/or migrated to upgrade your software systems. It can enable you to encourage loyalty, advocacy and also identify new opportunities to build your business with reporting tools to gain insight and make sense of your data.
Broker Data Migration
Quality Data can Save you Time and Money
Many brokers feel they are stuck with their legacy systems because they cannot transfer all of their data, with software houses telling them at best they can only migrate names and addresses— such a loss of data will affect your companies’ ability to drive sales and gain business insight. IDM can turn that on its head for a fraction of the cost— migrating what you want from client records down to policy and risk information, through to accounts and documents into the target system.
Some large brokers have acquired or merged with other brokers and thus inherited multiple policy administration systems. IDM can help you consolidate your data to streamline your systems and decommission old legacy systems. IDM have successfully carried out data migrations for stand alone brokers and for large broker networks. Case Studies
- Save on licensing costs and time required to support different systems.
- Help create a single client view, improving customer retention & cross selling opportunities.
- Ultimately improve the efficiency of business processes and success of the business.
A further challenge facing brokers when changing systems is seamlessly migrating EDI policies. Incorrect transformation of these will in effect restart these policies on the new system. IDMs proven techniques can migrate EDI policies so that the policy can continue to be processed on the new system.
Broker Data Quality
Improve Data Governance, Customer Communication and the Quality of Bordereaux to Insurers
Poor quality data can cost your business time and money and cause frustration for your customers and your insurers.
- Are you sending information to insurers and not getting feedback on the quality of this information?
- Or after working on a system for many years do you know where you data lacks quality? i.e. poor quality addresses, duplicates etc.
Broker System / Data Integration
Automate or Streamline the Management of Data
IDM's Integration Modules can Improve the Efficiency, Accuracy and Productivity of Business Processes
Do you have data records that need to be integrated with other data sets in another system? IDM have experience in working with many different data types including; Excel spreadsheets, SQL databases, Legacy databases such as COBOL and DIBOL etc. We can successfully import these formats into new databases in the correct format.
IDM's Bespoke Integration Modules will perform faster than the generic modules available on the market in populating your databases. Our insurance knowledge and experience should give you piece of mind that we will maintain and ensure the accuracy and integrity of your data.
- Integrate Coverholder Bordereaux information into your underwriting systems
- An API to integrate two different types of technology.
- Push information from your back office to your accounts system.
- Produce instant on-line quotes, issue documents and then push the data into your back office systems.
- A portal that gives your sub agents certain allowable information from your office administration system.
- Add on new software modules that integrate and automate one or more processes.
Do you receive bordereau from sub-agents or send bordereau to insurers and is this a manual process - so you are having to re-key information? If so, our interfaces can automate this process which ultimately saves you time and omits the opportunity for errors. This solution will also include a level of data enrichment and cleansing to ensure insurers receive quality data. By automating administration processes, your staff can concentrate on customer care and generating new business.
Broker Business Intelligence
Can you report on and make sense of all your data? If you want to gain better insight then IDM can help!
• customer profile,
• attrition rates,
• up-selling and cross-selling, to mention a few.
Bespoke Broker Software Development
Bespoke Software Design
Our lead consultants are from a software design and development background within the insurance industry. We have experience in providing complete bespoke software solutions which will fit around your business processes and requirements, complementing existing systems and even interfacing disparate applications.
Typical applications have included:
- Scheme Software - allowing brokers to create and maintain the special schemes which they have negotiated with the insurers.
- Quotation Modules - allowing insurers to enter quotation details for particular lines of business.
- Claims Software - insurance claims handling managing the processes from the point when the claim is raised to settlement.
We pride ourselves in taking the time to understand your needs by offering a free evaluation of your requirements. Our lead consultants have experience in helping brokers and insurance companies create simple to use integration systems that eliminate routine administration procedures and save you money.
There is no cost for this initial consultation - click here to arrange your free review.