2023 State of Tech in Independent Insurance Agencies Report

The 2023 release of our State of Tech in Independent Insurance Agencies is now available!

We surveyed agencies around the country to learn about the technology they are using and how they feel about it. This report shares findings from the survey and insights on how each area impacts agency value.

What does the data tell us?

• “Getting the most out of the tool” continues to be a significant challenge for agencies. This highlights the problem of technological redundancy and staff change management. We recommend that agencies evaluate their technology stack for overlapping functions and gaps to maximize technology utilization.
• Applied Systems has moved TAM, Vision, and DORIS to provide only maintenance updates. Agencies still using those platforms should start evaluating the options for their next AMS from Applied Systems or other vendors.
• More agencies are using Marketing Automation platforms (with a 15% increase year-over-year) for email and text marketing, prospecting, client retention, pre-renewal processes, cross-selling, and up-selling.
• Reputation Management tools saw a slight increase from last year’s report. Leveraging and implementing a reputation management strategy can help agencies generate online customer reviews, which help can drive more people to their websites for more information.
• Cybersecurity is a weak point for agents and needs to be a priority to remain trusted data stewards.
• Data Analytics tools are underutilized as well, and with more strategic insights, agencies can make more informed business decisions that improve overall efficiency and performance.
• Development and use of Commercial Lines Quoting/Rating platforms are growing, with 25% of respondents utilizing at least one of these solutions. As the number of carriers and lines of business increases, adoption will continue to grow.
• As new technology tools such as generative AI continue to develop, many of the tech solutions mentioned in this report are expected to experience significant improvements in the coming years. Catalyit will be paying close attention to these developments.

Download your copy of the report to see all the results, explore the latest insights, and learn what the data means for independent agencies.