How Can Insurance Brokerage Software Add Value to your Business?

4 min readAug 10, 2022
Photo by Carlos Muza on Unsplash

The insurance industry is a vast one and it can be difficult to keep track of all your clients and policies. That’s where insurance brokerage software comes in! There are different types of insurance broker management systems on the market that can help you run your business more efficiently. In this article, we will explain what makes an insurance broker software unique and how it can help you grow your business. Let’s get started.

Beneficial Features of Insurance Brokerage Software

Insurance broker management software is a very useful tool that can help you save time and money. The most valuable features of this software will be discussed in detail below.

Policy Management

Insurance brokers are often responsible for the creation, maintenance, and distribution of policy documents. With an insurance broker management software platform, brokers can manage all aspects of your policies in one place, such as:

  • Create new policies and renew existing ones
  • Amend policies as and when needed
  • Cancel or change insurance policies
  • Add riders to cover specific items or classes of risk (such as deductibles)
  • Extend coverage to new types of risks (such as cyber security)

Document Storage

Document storage is a must-have feature of any insurance brokerage software. The software should have a central database of all documents, including policy documents and claims forms. This document storage should be secure and easy to use. It should also be accessible on the go so that you can access your files from any device, whether it’s your phone or tablet, or even an old-fashioned laptop computer!

Integrated Insurance Platform

The integrated insurance platform allows you to easily integrate the broker software with other systems and data sources. For example, if you’re using a CRM system to manage customer relationships, the broker’s software can be synced with it so that you have one record of each client. This makes it easier for your clients to find out about their policy details and make changes as needed.

The integration with other platforms also makes it possible for brokers who use different systems at their companies (such as Salesforce) or who have multiple departments within their company (like human resources) to share information quickly and easily — and without having separate databases or spreadsheets!

Quotes Management

Quotes management is a feature of insurance broker management software that allows you to keep track of your clients’ quotes. This is important because it helps you stay in touch with them and ensure they are getting the best deals possible. You can also use quotes management as an opportunity for marketing, by sending out personalized messages about upcoming events or open houses.

Claims Management

The claims management process should be easy and efficient, from the point of contact with the customer through to completion. With a broker management system, you will be able to track your progress on each claim quickly and easily. This enables you to make informed decisions about how best to deal with any issues that may arise in relation to these claims. Broker tools provide an excellent platform for managing all types of insurance claims as well as general business processes such as:

  • Purchase orders (POs) and invoices — Tracking PO submissions, POs received from customers, and payments made by insurers
  • Insurance policies — Monitoring policy status within the database, paying premiums on time & avoiding underinsurance, claiming refunds when required

Customer Profiles

One of the biggest benefits of insurance brokerage software is its ability to organize customers by demographics, location, and coverage. Customers are organized in separate groups so that you can find them easily by their name, address, and phone number. You can also search for specific types of people or businesses based on certain criteria (such as age).

Your customers will be assigned to an individual broker who knows how best to handle each one’s needs. This means that you don’t have any mystery shoppers; your brokers know exactly whom they’re working with!

Mobile Capabilities

The mobile capabilities of an insurance broker management system are important because more and more people are accessing the internet from their phones. The best way to do this is with an app that can be downloaded on your phone, or accessed through your website.

The software is designed to make running a business easier by automating many of the tasks that have traditionally been performed manually. This enables people to focus on their core competencies and build expertise in those areas instead of having time-consuming tasks on their plates all day long!


Insurance broker management systems make it easier to run the insurance business. The main benefit of having an insurance broker software is that it gives you an easy way to manage your clients, generate quotes and reports and track your business. This makes it easier for insurance brokers to do what they do best — sell insurance! Brokers will also be able to easily access all data related to the client base from one place — which means less paperwork overall!




Faheem is an InsurTech specialist & a passionate Insurance Technology Blogger with remarkable experience of 17 years, working with clients all across the globe.