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One of the questions we get from prospective customers is whether LineSlip Markets replaces the Agency Management System. While on the surface there appear to be some similar benefits, LineSlip doesn’t replace the AMS. Rather, LineSlip extends the value of the Agency Management System and provides enhanced functionality around client deliverables and analytics.
Brokers will continue to follow the same workflow that they use today for engaging with clients and requesting carrier quotes. But when the carrier quotes come in, users will upload them to LineSlip Markets, or note that the carrier declined to provide a quote. Unlike the AMS, that often doesn’t track when carriers decline to quote, LineSlip uses data about which carriers quote/don’t quote to help brokers understand market dynamics and where future quotes should be sent.
Having the quotes in LineSlip has multiple benefits. First, it allows brokers to keep all key documents related to the deal in one central place that is easy to access and find. Because LineSlip is cloud-hosted, files can be accessed at any time, from any location, depending on the user’s permissions.
Second, having all the quote data in LineSlip allows risk marketers to very easily create quote comparisons and professional proposals. Unlike the AMS, which focuses on back office functions and workflow management, LineSlip Markets has AI functionality to easily mine the carrier quotes, capture the necessary data from the quotes and format proposals in a way that makes it very easy for clients to see the differences in the carrier quotes, without compromising proposal branding. Because quote mining in LineSlip is largely automated, it eliminates a lot of the data re-entry that is common practice today, saving brokers a lot of time and eliminating unnecessary errors in the process.
Finally, LineSlip is an analytics workhorse that provides brokers with data that goes beyond the analytics available in the AMS. LineSlip can help you visualize and understand the markets you bind with and the markets that quote but you don’t bind, hot markets, cold markets and performance by broker. And, of course, the data can be organized by LOB, industry classification, geography and premium, or any other KPI. With LineSlip, brokers have the data they need to benchmark their success and make smarter decisions.
Unlike the analytics in the AMS, the data in LineSlip is real-time, enabling brokers to understand the state of their business at any time. It is also fully customizable, so brokers can determine the KPIs most important to their business and track their performance in the analytics dashboard.
To learn more about LineSlip Markets, please contact us for a demo.