Time-consuming processes and the need to innovate operations
Hall & Company needed a more efficient method of tracking new business and client retention percentages, which was time-consuming with the current legacy system. Staff required a modern, paperless solution to automate daily processes, decrease operating expenses, and customize operations to better serve its niche clientele. The less time required to search, file, forward and sort through client policy data, the more time revenue producers would have to focus on client service and sales.
The switch to a single, integrated system and customer self-service software
Applied Epic, the fastest growing and most widely used management system in the world, provides Hall & Company a single, integrated system to manage all customer relationships, policy administration and financial accounting more efficiently. Additionally, Hall & Company chose Applied CSR24, the leading cloud-based customer self-service software, to provide service to its clients and reduce manual administrative tasks for staff.
Client connectivity: closing new accounts and building customer loyalty
Since implementing Applied Epic and Applied CSR24, Hall & Co. has the customization it requires to serve its specialized client niche. The agency found that Applied Epic not only automated workflows for better productivity, but it provided the reports to measure business growth. “To be successful, we must have the ability to gather, evaluate, and leverage client information,” said Michael Hall, president, Hall & Company. “Applied Epic delivers tighter data that allows us to measure success rates more accurately, while eliminating redundancy and manual entry.”
Data processing in Applied Epic enables producers and CSRs to reduce time required to file, organize and submit information from 50 to 15 percent in labor hours, allowing the agency to spend more time serving clients and increasing sales. Success metrics are more easily tracked, enabling Hall & Company to measure sales and retention data as well. “Since implementing Applied technology, our new business hit rate has increased from 30 to nearly 50 percent, and client retention has increased to 93 percent,” said Hall. “Not only are we closing new larger accounts, we’re building loyalty with our current client base.”
Applied CSR24 enables clients to access and print certificates anytime at their convenience without agent assistance, allowing the company to reduce two full-time processing positions to one part-time role. Employees were reallocated to revenue generating positions, and Hall & Company has saved approximately $70,000 in COI labor, printing and postage expenses annually. Leveraging Applied software has enabled Hall & Company to begin their digital transformation and experience exponential business growth.
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