In our final installment of 7 Signs Your Policy Admin System is Reaching its Limits we cover the impacts on your employees – the people who make everything happen and are the key to long-term success. (Follow the links below to view the previous six signs, or click here to download the complete eBook: 7 Signs Your Policy Admin System is Reaching its Limits.)
Policy admin systems are essential. Once a system is in place, insurers loathe the thought of replacing it. Many older systems, though, have been customized and adapted over decades as times have changed. Layer upon layer of changes over years makes a policy admin system brittle and unstable. Insurers who wait too long to replace their legacy policy admin system risk damaging their business.
We’ve identified seven warning signs that a policy admin system is reaching its limits.
Warning Sign #7: Are you driving your current staff and future leaders away?
Are your employees buried under paperwork? Do they waste valuable time and energy wrestling with multiple systems? Do your employees have to key and rekey the same data to keep everything in sync?
Are system limitations slowing your employees down and frustrating your customers? Do your employees spend so much time and energy wrestling with systems, paper, and workarounds that they have little real focus and attention left for your customers?
How challenging and fulfilling is your employees’ work? Are you struggling with turnover and job vacancies? Do you find it hard to find qualified candidates? Does it take a long time to train new employees because your processes and systems are so complex?
A healthy PAS shields insurance teams from drudgery and equips them to serve policyholders by:
- Minimizing the need to key or rekey data
- Eliminating tedious manual calculations and cross-referencing
- Enabling new employees to be trained in a fraction of the time
- Providing flexible access to your systems and supporting work from anywhere as needed
- Equipping you to grow the business without being forced to grow your staff
An out-of-date policy admin system will bury your team in paper and manual work, frustrate your employees, and handicap them from providing excellent service to your customers.
If the limitations of your current policy admin system are slowing your employees down and forcing you to expand your team just to keep up, this is a warning sign that action is needed.
For more information on this and other warning signs that your policy admin system is reaching its limits, and what to do about it, click below to download our eBook 7 Signs Outdated Policy Administration is Damaging Your Business: