She is a senior leader on the HighRoad team focused on the success of the organizations she partners with; helping them embark on exciting new marketing solutions. Your Association Management Software will plug into many of your other systems and processes, allowing you to manage many of the day-to-day tasks of association management. A good CRM will also automate your workflows and processes so you can focus on other important tasks. The biggest benefit of an agency management system is that it’s already built for your specific industry niche. For example, AgencyBloc is built to suit the needs of the life and health insurance industry.

There are a lot of CRMs on the market, and competition has increased the overall quality of products available. The other positive aspect of using an AMS is that you’re able to use one cryptocurrency exchange vs broker tool to power a large portion of your organization. Your staff will only need to learn and maintain a single platform, leading to less complexity from an operational standpoint.

Insurance CRM vs. Agency Management System

Many life and health insurance agencies are making the transition to technologically-based management systems to help them organize and manage their books of business. This article will focus on two of the major management systems and the benefits of using an industry-specific agency management system over a generic CRM. There are a few core differences between a CRM and AMS that you’ll need to understand in order to use each one effectively.

Having a crystal clear vision for what you need will help prevent you from being swept away by exciting features during a sales pitch. When you can ask how a solution maps to your requirements, you’re much more likely to end up with the perfect solution for your organization. The other downside of CRMs is that part of their strategy in maintaining you as a client is to lock your data into their system. Many CRMs, especially the largest providers, will lock down the data customers upload. This doesn’t give associations the flexibility to use the tools that best suit their needs.

When you’re looking for the right association management software (AMS) for your organization, you have multiple options. Customer resource management (CRM) software is designed to manage customer relationships by primarily providing functionality for salesforce automation, customer service, and marketing. These systems also provide a platform for building additional lines of business functions including all of those typically done by an AMS system. At Protech, we offer software that combines the capabilities of both CRMs and association management software. When everything is on one platform, your organization won’t need to spend time navigating between different programs, integrating separate tools, or choosing between the two. Because all of your association data is housed in one place, it’s easier to keep it accurate, up-to-date, and secure.

Perfected over the years little by little, the AMS has a variety of tools designed to help agencies perform daily tasks. With more capabilities of any other Insurtech solution, a lot of agencies ran successful businesses for years with an AMS as their only software tool. Your AMS is where you get carrier downloads, track prospect and client contact information, store policy details, track commissions and keep account notes.

AMS is also sometimes used to refer to “association management software” or even “association management solution.” These systems also typically include some level of accounting/bookkeeping functionality. Some AMS examples include Cobalt, WildApricot, MemberClicks, Aptify, and iMis. Our partnership with Microsoft makes Protech the ideal solution for any association that currently uses or is familiar with Microsoft products.

Ready for a CRM made for insurance?

Let’s take time to answer your AMS and CRM questions and provide you with our best resources. Whether you are a part of a well-established association that needs a new AMS system or you are doing research about a new CRM solution, we have more resources for you. Each of these is based on Cobalt’s deep experience in connecting associations with the vital information they need to make confident choices about their next AMS or CRM system and partner. Through features like privacy settings, data transparency, and user consent mechanisms, Microsoft strives to empower users with the tools to manage their privacy preferences effectively. If you are actively shopping for an AMS system or new CRM system take a copy of our 2023 Association Management Software Buying Guide with you today. We packed it with insider tips and best practices that will help you at every stage of the vetting and vendor selection process.

Using your CRM, you identify any members who are at risk of lapsing so your association will send these members more frequent, customized messages to potentially increase their engagement. To clear up any confusion, let’s start by defining each term and outlining the core features related to each type of software. You may be able to identify certain trends – people tend to buy certain training materials after attending a live event, for example, or people in certain roles have high rates of referring others to the association.

OneLink empowers you to create robust customer journeys and deliver personalized experiences to each client. Through personalized, targeted interactions based on customer data and interactions, you can enhance customer retention and make them feel valued and special. From usability to unique features, there’s a lot to be said for the big players and their massive R&D budgets. You should be offered a trial for all the commercial CRM platforms to test them out, so do your research and ask your AMS provider if they can match the usability or functionality. Figuring out which route you should take may seem daunting, but it really comes down to matching your needs with the capabilities offered by each type of solution.

The best insurance agency software

This is often preferable, reducing CapEx and making the latest technology available at an affordable cost. However, it can also make uncovering the actual size of your investment trickier. Ensure you have a firm handle on the total costs for years 1-3 based on your expected requirements and how they may develop. This includes asking the vendor about any fees for additional users or records or if any add-on modules or functionality will incur additional costs. Don’t be swayed by a low base price if, in reality, you actually need several features that are only available via a pricey extra.

ams vs crm

However, as they are proprietary systems built and provided by specific vendors, you find yourself dealing with some of the same limitations as the typical, pure-bred AMSs. You will only be able to receive support from that vendor and a smaller set of specialists who work with that system as you grow and evolve. Those customizations and additional capabilities (i.e., a commissions processing platform) can come at a hefty price. One downside to making so many customizations is that it’s not guaranteed the software or customizations will be supported indefinitely. When updates are made to the software, it’s possible the customizations you built won’t be supported any longer, forcing you to recreate them again. That’s a tall order, when you’re competing with the R&D budgets of Microsoft or the huge amounts of development and refinement work the big players have already polished.

Want more information about Vertafore’s options for CRM and AMS? Check out the following…

Enterprise-level CRM platforms and AMSs have comparable functionality when it comes to tracking standard customer data and allowing organizations to manage customer profiles. The ultimate goal of a CRM is to make you better at marketing and closing sales. To do this, CRMs facilitate data collection and analysis in a single repository so that you can better understand your members’ purchases and behaviours. Associations who use CRMs tend to track their members in a similar way that other businesses would track leads.

ams vs crm

Instead, you’ll need to pay regular subscription fees and purchase upgrades as they become available to remain top-of-the-line. Additionally, there can be a bit of a learning curve when you take on a CRM system that can hold up business until you understand the system. CRM systems are endlessly beneficial, especially when understanding and fulfilling your customers’ needs.

All the modules and tools they create are designed with the specific needs of associations in mind. Enterprise CRM solutions provide greater functionality in managing customer information like allowing you to track the full journey from the recruitment of new organizations or individuals to interactions. They also have options to integrate with specialized systems such as an event management system or product management system to provide further functionality as needed.

CRMs, or Customer Relationship Management systems, provide companies and agencies like yours with a central location for all customer data. It lets you track various interactions, purchases, complaints, and other data for future reference. AMS and CRM are terms that many people use almost interchangeably, but they offer very different services that can benefit your company in different ways. One works better at helping you acquire and onboard new members, while the other works to keep your customers engaged with and retaining your agency. You need to be aware of which is which so that your business goals are being met. Because there is some overlap between the roles a CRM and AMS play in association management, understanding the difference between the two can be challenging.