M&A Activity Consolidating Marketplace for AMS Platforms While Capabilities Expanding and Diversifying

Agency management systems are helping agents sell policies, service customers, and manage workflow; Novarica report profiles 8 prominent providers

Boston, MA (Feb. 2, 2021) – Agency management systems (AMS) have evolved to become either the day-to-day workbenches for agents or one component in larger suites of agency-facing software solutions. In a new report, Agency Management Systems and Software Suites, research and advisory firm Novarica describes some of the important trends, as well as what the implications are for insurers. The report profiles 8 of the leading AMS vendors and software suites, including Agency Matrix, AMS360, Applied Epic, EZLynx, HawkSoft, QQCatalyst, Xanatek, and Zywave.

“Like agencies themselves, AMS solutions are consolidating,” said Paul Legutko, Vice President of Digital Marketing and Analytics at Novarica and lead author of Novarica’s new report. “Moreover, many of the larger suites are also providing solutions specifically for insurers, including website, marketing, connectivity, social media, distribution/compensation management, and data/analytics.”

Click here for the table of contents or to access the report.

Report Summary

This report describes some of the important trends with agency management systems (AMS), the implications for insurers, and profiles 8 of the leading AMS vendors and software suites. AMS have evolved to become the workbench for most of the activities an agent typically undertakes on a daily basis: selling insurance, managing clients, and managing themselves.

AMS vendors have also integrated with larger agency software solution suites that provide a wide range of expanding capabilities designed to improve agent experience, make transactions faster and more efficient, and automate these processes as much as possible. Carriers who promote ease of doing business as a differentiator for agents have to accept integration with these platforms as table stakes.

The vendors profiled in this report represent a range of complexity, from full suites comprising many potentially stand-alone solutions to singular, pure-play AMS platforms. But all of them provide points of contact to carrier systems that need to be identified, enabled, and curated.

Vendors profiled include Agency Matrix, AMS360, Applied, EZLynx, HawkSoft, QQCatalyst, Xanatek, and Zywave.

Click here for the table of contents or to access the report.

About Novarica

Novarica helps more than 150 insurers make better decisions about technology projects and strategy. Its research covers trends, best practices, and vendors, leveraging relationships with more than 300 insurer CIO members of its Research Council. Its advisory services provide enterprise phone and email consultations on any topic for a fixed annual fee. Consulting services range from assessments and strategic roadmaps to vendor evaluations. Other special programs include a Silicon Valley Innovation Tour, InsureTech Summits, online learning courses, and more. For more information, visit www.novarica.com.

Source: Novarica

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