As technology rapidly evolves, more and more trends and innovations are emerging that will reshape the insurance industry in the blink of an eye. Are you ready to adapt? Are you prepared to safeguard your agency against the added risks that will develop as a result? Working with a technology management partner, or an insurtech consulting firm, is a crucial step for ensuring the long-term wellbeing and success of your company.
Insurtech, a combination of the words insurance and technology, is the rising industry built upon the idea of using technology innovation to boost savings and efficiency in the current insurance model.
Technology management partners, like Alexant, are seasoned insurtech consultants who will help you to improve your business and IT processes by assessing and then aligning your needs, pain points, and future plans.
Choosing the wrong insurance policy can be detrimental to a company’s wellbeing and cause devastating financial consequences. But hiring an insurance consultant could save you thousands of dollars, along with a sizable amount of time and frustration. Alexant has decades of experience in guiding customers through this often-ambiguous journey and will offer recommendations that best fit the unique needs of your agency the next time you need to bid out your insurance renewals.
The most common business risks that you should consider when evaluating insurance policies includes privacy violations, data breaches, property damage, human capital costs, professional service mistakes, and international transit/export issues.
When you partner with Alexant, we address the two frustrating challenges you would face without us:
The time it takes to research the best solution. Time is money, and Alexant’s insurance policy consulting services can steer you in the right direction quickly and cost-effectively so that you can get back to running your business.
The validation in making the right choice. When you work with Alexant, you’ll know you’re making the right choice—one that’s based upon over 25 years of experience in guiding customers through the journey of selecting a policy.
Whether it’s general liability, professional liability, workers compensation, data breach, or another type of insurance policy, Alexant is a trusted insurtech consulting company that will guide you in the right direction.
Automated management systems are the backbone of successful insurance agencies and the addition of automated processes and tracking will save your business a significant amount time in the long run.
For most insurance agencies, TAM is no longer sufficient, and Applied Epic is the preferred system, offering an open architecture and the essential capabilities you need to manage your agency. That being said, the transition from TAM to Epic can be fraught with challenges.
Luckily for you, Alexant provides a wide range of insurance consulting services, including TAM to Epic consulting, as well as training on Applied Epic. With over 35 years of experience, senior consultant Sue Good understands the role of data in delivering exceptional results and will provide you with one-on-one coaching to prepare you and your agency for this big transition, and then walk you through the process step-by-step.
Implementing workflows is key to getting the most out of your management system. Sue knows how to take agencies to the next level and will help you set up the proper workflows for easy sales and management, whether you’re still in TAM or you’ve decided to transition to Epic.
Another key to success during and following the migration to Applied Epic, is to involve staff from every division and department of your agency. It is important that the procedures and workflows developed function smoothly for everyone—from management, to the front office, and the back-office staff, as well.
Sue, and the rest of the Alexant team, can help your agency get the most out of your management system, making life easier for your team and providing them with the tools they need to take the best care of your clients. Let us help you make the transition to Applied Epic—the future of insurtech.
From 2018 to 2019, the average number of security breaches increased by 11 percent, from 130 to 145, and the average cost of cybercrime for an organization rose from $1.4 to $13 million. Additionally, “A new wave of cyberattacks sees data no longer simply being copied but being destroyed—or even changed in an attempt to breed distrust.”
Accurate data is the cornerstone of sound decisions for every business, regardless of industry. For insurance agencies, the integrity of reporting and accounting processes are especially crucial to their success and can be safeguarded from the aforementioned security breaches through a risk management plan.
Risk management is the process of identifying potential risks and taking precautionary steps to reduce the likelihood of that risk becoming a reality. A risk management plan documents these risks and details the organization’s responses.
The first step in developing a risk management plan is to assess your current situation, through a vulnerability assessment—the practice of gauging how vulnerable your IT infrastructure is—and a security audit—a measure of how well your security protocols comply with industry standards and requirements. Alexant will give you direct access to knowledgeable consultants who can provide training, audits, and guidance on staying financially credible via data integrity. We will help you present online, real-time information to clients, and provide your employees with direct access to knowledgeable consultants who can provide training, audits, and guidance. Our services will instill better trust from upper management peers, better trust from clients and more efficient forecasting. Download the Alexant Security Assessment Overview Document for a more in-depth look at the security assessment process and services offered by Alexant.
By maintaining your agency’s data integrity, you can reduce the likelihood that you will fall victim to cybercrime and enjoy the future economic value of higher levels of trust from consumers.
If you are in the insurance industry, you can trust Alexant as your experienced IT partner. With over five decades of experience in the insurance and technology industries, we can help you and your team feel confident that you are choosing the best policies, your automated management system is running efficiently, and that your data is accurate and your team knows how to utilize that data to further the mission of your agency.
A technology management partner will take over risk assessment and management, computer network systems security, and agency workflows and processes to develop efficient solutions for all departments. Businesses choose Alexant because we have multiple expertise, offer true value in pricing, are a trusted IT partner, and will deliver real results that benefit your company.
“Sue Good and the Alexant team have been a crucial part in getting the most of out of our Agency Management System. They have helped us write workflows that make life easier for our customer service team and ensure we have all the information we need to take great care of our clients. They have also been an important accounting partner for our agency; Sue has helped with everything from training to company payables clean up. Alexant is also helping us with our biggest project to date, transitioning from Applied TAM to Applied EPIC. I highly recommend Alexant to anyone wanting to get the most out of their Applied investment.”