2023 Top Insurance Software Products for MGAs
From small MGA startups to global insurance carriers, each insurance brand will have diverse business management needs.
Luckily, the emergence of insurtech in recent years has helped insurance businesses, large and small, enhance their underwriting and actuarial processes. It is now easier than ever for companies to create new products to entice new customers and cut costs across all business departments.
In addition to the influx of insurtech solutions on the market, there has also been an increase in the number of software comparison sites that MGAs, insurers and brokers can use to find the best IT solutions. For example, websites that collate thousands of customer reviews, include feature comparison tables and contact information, so visitors can use it to set up free demos with reputable insurtech brands.
But with all these choices on the market, how can brands narrow down the best solution for their business?
Here at Insly, we scoured the most popular and independent software comparison sites - capterra.com, getapp.com, and topbestalternatives.com – and compiled this list of the best insurance software products for insurance brokers and agencies in 2023.
Insurance software comparison site #1: GetApp®
GetApp® provides in-depth editorial and user reviews on tens of thousands of business-relevant mobile apps and software solutions.
Here is a quick rundown of their comparison engine's best recommendations for insurance management software:
Insly was founded in 2014 and provides MGAs and insurance firms full-cycle with low/no-code insurance software.
Its capabilities for streamlining and optimising insurance selling and administrative operations are further enhanced by its native accounting, reporting, and claims management tools.
Our platform offers an affordable, scalable solution for MGA firms looking to create new insurance products and boost overall operational efficiency.
Through its cloud-based platform, Indio helps commercial insurance agents, brokers, and agencies streamline insurance application and renewal processes.
It has a module for activity monitoring that notifies users when they sign in, update their information, complete forms, or submit documents.
Indio also has a standardisation functionality, allowing users to import data from spreadsheets and store it in structured formats.
Jenesis Software connects independent agencies with prospective clients and manages client and policyholder relationships.
Document management, cancellation monitoring, renewal management, and marketing automation are amongst Jenesis Software's standout features.
Bitrix24 is an open-source platform incorporating various tools, including CRM, document, task, time, and project management systems.
Its interface will feel familiar to social media users, featuring user profiles, likes, and comments functionalities within its insurance management toolkit.
Insurance software comparison site #2: Capterra.com
Capterra.com is a software comparison engine that offers several useful features, including a shortlist option, allowing users to compile software options to share with other decision-makers in their firm.
If you need help determining what tools you need in your ideal insurance software solution, Capterra also includes a quiz to help you choose the best options for your needs.
Here is a quick rundown of Capterra's best-rated insurtech platforms:
According to recent reviewers from the Capterra platform, Insly offers a "lightweight but flexible" solution to suit different channels and specific needs."
Reviewers also praised our platform's outstanding functionality for generating insurers' reports, providing alternative payment methods, and its extensive financial reporting options.
Applied Epic is a broker management system suitable for on-premises and cloud-based IT infrastructures.
It offers relationship management, policy administration, and financial reporting automation capabilities. In addition, it can aid with lead generation and scheduling, and it can even set daily task reminders.
ClientCircle offers a comprehensive range of sales, marketing, and communications tools and services. The platform assists insurance agents in managing the entire client journey, including prospecting, cross-selling, and developing long-lasting, meaningful connections.
Many reviewers like how easy ClientCircle is to use. However, some users say they would prefer it if the platform included more customisation features to help them optimise its use in their organisation.
Insurance software comparison site #3: Topbestalternatives
Topbestalternatives is a crowdsourced comparison site with contributors from all over the world. It's targeted at organisations that are looking to replace outdated systems with modern alternatives. To that end, the site attracts over 600,000 new visitors every month.
Here is a shortlist of insurance software solutions rated highly on this comparison site:
Insly provides secure and seamless access to all links in the insurance value chain, and our product development teams also collaborate with an extensive network of insurance industry experts.
This means that from the moment your company signs up for Insly's low-code tools, you can get help from the onboarding team in configuring automated workflows and integrating your existing software tools via API.
Insly is rated highly as an out-of-the-box low-code insurance solution. However, its modular architecture also ensures that it can scale with your brand as you expand your customer base, distribution networks, or product offerings.
Partner XE manages emails, conversations, and data analytics from one centralised platform. Its capabilities enable insurance companies to schedule and maintain massive, complex accounts.
Plus, the software connects policy information to accounts and reporting tools, allowing businesses to retain complete control of their financial KPIs.
NowCerts offers a range of self-service insurance management tools, including the ability for customers to issue their own insurance certificates – easing the admin burden of customer service teams.
It also uses its extensive tracking system to calculate broker commissions automatically from its intuitive interface.
Insly carries an average 4.8 star-rating across leading insurtech comparison sites
We hope you found our list of the top insurance software solutions in 2023 helpful. If you would like to learn more about Insly's capabilities for optimising your operational output through easy-to-configure low-code tools, book a demo with us now.