Software Suggestions for Independent Agent

[bworthey]

I'm new to the forum here and I'm looking forward to reading/getting to know more of you. Long story short. I'm transitioning into my dad's business - he's been doing it for over 20 years independently, just him. He's getting ready to semi-retire. He has his own way of doing things of course. Nothing wrong with those at all. I need a system to track my policies, commissions - what I have on the books! Is there something out there where you can track everything in one - life, auto, home, med supps? Most of the auto policies are month to month and that's how the commissions are paid so I don't know if that throws a wrench in it or not! I've googled systems but they all look good on the surface and I can't find one with everything! Also it's just me and my dad, no other agents at this time.

Thoughts!

 

[GingerNinja]

With the wide array of products you're selling, you'll need a robust excel workbook to keep up.

 

[bworthey]

With the wide array of products you're selling, you'll need a robust excel workbook to keep up.

I had started with excel at one time keeping up with just what business I had - just med sups and life. What I ultimately want to be able to do is track the commissions out month to month and I'm not sure if excel is capable to handle that or if I'm capable to do it! Ha!

 

[MedicareAgent]

I gave up tracking commissions, I get at least 10 commission statements a month and it is way to time consuming.

 

[bworthey]

I gave up tracking commissions, I get at least 10 commission statements a month and it is way to time consuming.

How do you budget anything then if you don't know what's coming in? This is partly why I'm concerned and trying to find something. I will be running a business with those expenses and a family while being fully independent. Somehow my dad has done it for 20 years but I can't imagine not knowing! Ha!

 

[kgmom219]

How do you budget anything then if you don't know what's coming in? This is partly why I'm concerned and trying to find something. I will be running a business with those expenses and a family while being fully independent. Somehow my dad has done it for 20 years but I can't imagine not knowing! Ha!

Uhhh....welcome to insurance sales???

Excel will work for what you are wanting. Or go for quicken?

1. You will never, ever make the exact same amount every month. Expect a 10% change most months.

2. You will get to a point where its 10 statements a month, with pages of names. Then you have to decide if you ignore it if its close, pay someone to audit them or waste your time doing it yourself?

3. For the budget, If you know you are going make $10K a month and need $2K for expenses and put $2K back for taxes, you better figure out how to live on $6K.

You might want to adjust your thinking on exact figures. That's not how it works

 

[bworthey]

Uhhh....welcome to insurance sales???

Excel will work for what you are wanting. Or go for quicken?

You might want to adjust your thinking on exact figures. That's not how it works

Yeah, welcome to sales! Ha. And I get what you're saying, I know I won't have anything exact, things change. Like I said I have some things on the "books" now and I wish I knew a little more consistently what I was getting or at least what to expect than the night before. That's what I can't figure out.

Maybe I should redirect my question and ask what you do with your book of business? Do you track it or no? Am I making this too hard on myself? Right now my insurance sales is simply supplemental income so it's not that big of an issue. Just thinking ahead for when I jump in full time with it! Thanks for the feed back already!

 

[somarco]

Some use Excel or Google Sheets. There are CRM packages available that track clients, policies, anniversaries, X dates, etc. if you want to really stay on top of things.

Unfortunately, I am not that organized. I do use Sheets for some things and Google Calendar for reminders. Beyond that I rely on Quicken for most everything. Some use Quick Books but my accountant is satisfied with the reports I can run on Quicken.

Quicken allows me to keep business & personal accounts separate. I suggest a business bank account (your name, company name or DBA if allowed in your state) and a separate personal account. Both my accounts are at the same bank so I can transfer funds from business to personal on an as needed basis.

I run monthly and quarterly reports for tax purposes as well as year end tallies. Quicken allows me to see how much revenue comes in every month and I can spot check cash flow to see if I am making a profit or not.

Quicken forces me to stay on top of things vs manual entry. You can export information in PDF or XLS format.

 

[bworthey]

Somarco - thanks for that info.

 

[storageman]

for CRM there are two technical choices.
1. Web Based like saledforce.com
2. "local" CRM. I have been using ACT! for CRM but not 100%, Just became licensed and need to spend more time getting up to speed with the latest version that has all kinds of good stuff like social, email marketing and reminders.
What shocks me is that no one else has posted software names besides XLS

3. Personal note. I do NOT like anything "cloud" based except backup. If internet capability is missing, you are dead in the water. With a decent crm, you can use your PC AND you smart phone for (at a minimum) contact information.
ACT! allows syncing my desk/lap and my phone.