Lucky Number 7 – An Annual Conference Wrap-Up

On September tenth, nearly 100 of our customers, partners and prospects joined us in Isle of Palms, South Carolina for our 7th Annual Conference.  Our largest turnout yet, the conference was an opportunity for Agencyport Software to unveil new products, update clients on our existing product set and offer our customers and partners a space to share their ideas and experiences.

Using our 2012 Conference Mobile App (available for iPhone, iPad and Android), attendees were able to utilize live polls, real time speaker QAs and social media to network during the event.

Attendees could choose from among over 30 sessions at this year’s Conference. Among the highlights was the reveal of our newest tool set for application interoperability, Connect5. Helping Agencyport/Carrier/Third Party products integrate with each other and offering easier and more cost-effective customer workflow solutions, this new architecture introduces a robust Mapping tool, Orchestration and Routing capability. General availability is slated for mid-October.

In addition, several key panel discussions were held:

Make Best of Breed Make Sense:

Led by Steve Hauck (Agencyport), Martina Conlon (Novarica), Shane Cassidy (Capgemini), Nick Frank (Guidewire), this session focused on the decoupling of front-end and back-end systems, particularly as part of a policy system conversion. According to Novarica’s US Insurers IT Budgets and Projects for 2012 Report, more than 1/3 of insurers are either in the midst of or are planning a policy administration system project for 2012. While it was agreed that a single system architecture has its place, particularly with smaller carriers, panelists emphasized that a decoupled, best-of-breed approach featuring a robust web-based portal not only gives carriers the ability to insulate agents from the distraction of a back-end replacement, but also the flexibility to leverage today’s leading technologies to reach more people through more channels than ever before.

Power of Data:

Led by Mason Power (Agencyport) with Dax Craig (Valen Technologies), Dan Munson (RiskMeter) and Mathew Stordy (LexisNexis), this discussion focused on the predictive analytics and modeling growth in the insurance industry. Major takeaways included live polling results which showed that carriers will increase spending on predictive analytics over the next 2-3 years. Panelist concluded that “There [are] no bad risks… just bad pricing;” the power of data allows carriers to not only accurately underwrite policy risks but do so at a competitive price.

Gen Y Weighs In:

Moderated by Eric Harnden (Agencyport) and including Val Feeney (Andrew G. Gordon, Inc.), John Spinnato (Sumner and Sumner Insurance) and Amy Millard (Hearsay Social), this session addressed the growth of social media with a new insurance agent generation. This new breed of Gen Y insurance agent has had to adapt to continuously “sell socially.” Picking up on public life events (available via Twitter, Facebook and LinkedIn) such as an engagement, the purchase of a new home and the birth of a child, provide an opportunity for insurance agents and carriers alike to market new insurance offerings.

Our roadmap sessions offered a glimpse into upcoming plans for some of our core products:

BookSmart

-Carriers are familiar with Booksmart’s reputation as an industry-leading book roll and analytics tool.  Now, it has grown to be a player in the Policy Conversion space.

-Where it’s headed: Role-based security enhancement, data encryption and Cloud availability are all planned in upcoming iterations.

Turnstile

-Turnstile continues to gain momentum with its service-based ACORD data transformation functionality. Current implementations have created workflow solutions incorporating other Agencyport products such as AgencyPortal and Connect5.

-Newly introduced! While Turnstile offers a solution for processing ACORD forms and additional management system forms, oftentimes data extracted may need additional editing and corrections to easily be transported to a target system. By using TSUI (Turnstile User Interface) a user can review, edit and supplement data to a form uploaded from Turnstile.

-Where it’s headed: continued support and upcoming forms include Property, BOP and additional CA states.

AgencyPortal

-Where our flagship product is headed: the market is asking for more out-of-the-box consumer/ insured/policyholder-facing functionality. Consumer-facing portals will offer this flexibility and additional self-service functionality will make its move to the mobile sphere.

Mobile

-With its easy plug-and-go integration Mobile continues to gain steam with carriers. Quick implementations (many of go live within 8 weeks) offer services such as VIN/License Scanning and Mobile Agent capabilities.

-Where it’s headed: Operations/Claims, Seamless applications that connect to web applications (think Evernote and Dropbox), and Self-Service (Billing/Claims/FNOL) are scheduled for upcoming versioning.

Thank you to all who joined us in South Carolina and helped make this year’s Annual Conference the biggest and best yet!

While we have received some feedback already, every bit is helpful. In order for our Conference to continue to be relevant and productive, we need your thoughts.  Is the format right?  Should we have more, smaller gatherings throughout the year? Geographically-based?  Carrier-type based?  Should we stay our current course? Now that the South Carolinian sand has settled, we’re thinking about next year.  Please drop us a line.  Let us know how we can continue to make our time together as future-shaping as possible.

Send us a note at innovate@agencyport.com.

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