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Veruna : Agency Management For The Digital Age

Jennifer Carroll, CEO, VerunaJennifer Carroll, CEO customer centricity has become the key to success for any organization. In today’s digitally enabled world, customers are spoiled for choice with customization, customer service, and personalized recommendations, all served on a platter. This means it is a tough market to penetrate for any seller. In the insurance industry, where agents are already struggling to sell an intangible product, it becomes tougher to reach customers with the right kind of aplomb to convince them to purchase the right policies in the given market landscape. To create an impactful strategy to attract new customers, cross-sell and retain customers, insurance agents need to first tackle their back-end challenges.

Insurance agents need to manage a slew of policy holders’ account information, sales pipeline statuses, insurance policy package details, and compliance reports—leaving no room for error— to ensure that their agency is addressing and anticipating its customers’ needs. To keep up with such workf low, more often than not, insurance agencies or individual agents make use of an agency management system (AMS). Many default to legacy AMSs, which often have some brand recognition based on being around for decades, but may have limited capabilities and unhelpful features that are obsolete in today’s times. As the legacy AMSs do not provide agents with accurate reporting and relevant insights to understand their customers and business, agents cannot identify productive techniques and cross-sell or upsell opportunities. Moreover, legacy AMSs are not easily customizable for each agency, which further leads to stagnation and poor data retention. The main issue here is that these systems are not adaptable to changing times These were the very factors that spurred the inception of Veruna. The company’s vision is to revolutionize the AMS space by bringing innovation and empowering insurance agents to stay to thrive in today’s fast-paced, customer-centric environment. Veruna helps insurance agents to sell more and better retain customers. Veruna AMS leverages Salesforce—with full access to business apps on the Salesforce AppExchange—to deliver detailed reporting and analytics, efficient agency management tools, and customizable back-end processes enabling agents to offer a best-of-breed experience to their customers. Simply stated, the platform enables agencies to better know their businesses, so they can grow their businesses.

“With our cloud-based agency management solution built on the Salesforce platform and leading consultancy services, Veruna is more than just a better alternative to limited legacy AMSs; it is the independent agent’s opportunity to accelerate growth through technology,” says Jennifer Carroll, CEO of Veruna.

Veruna AMS gives clients unprecedented control of their agency’s information and operations, with easily configurable dashboards, actionable reporting insights and the power to customize functionality. From streamlined sales and service management to f lexible and precisereporting capabilities, to seamless integration with accounting and other apps, Veruna AMS provides all the innovative features that insurance agencies require today to succeed in the market. Veruna’s revolutionary AMS is also the only platform that is ACORD® forms endorsed. Veruna’s ACORD eForms Connector allows bilateral communication between Veruna and ACORD forms. In simple terms, this means an agent can fill out ACORD forms directly from Veruna and also retrieve data from ACORD forms for storage on Veruna’s platform.


We believe it is our flexibility integration that makes us a trailblazer in the insurance agent management space

Veruna also integrates with download engines like IVANSTM to ingest carrier data. “Our reporting, f lexibility and integration capabilities make us a trailblazer in the insurance agency management space,” says Ms. Carroll.

When it comes to executive management, Veruna provides complete visibility into each agent’s functions and activities. “Since we work with Salesforce, it is easy for clients to slice and dice into details to take a look at what their agents are doing on a daily basis, monitor workf lows, and gain a real-time view with detailed reporting.”

The other important reason why agencies prefer using Veruna AMS is executive management. Today, the agency leadersneed more visibility than just seeing what their agents are doing and how they’re doing it; they want to see the bigger picture. Veruna’s dashboards and reports let agencies configure custom reports and dashboards and see in real-time where their agents are faring well, and where they are falling behind.

A testament to the company’s AMS would be the numerous prestigious companies that have embraced the platform, including USAA Insurance Agency, which depends on Veruna to serve millions of U.S. military veterans. Veruna provides USAA with the tools its agents need to deliver a streamlined, modern, and appealing insurance experience for all its stakeholders.

The driving force behind such astounding success has always been a straightforward question for Veruna: “What can we do to enable more? While managing new business, renewals, remarket, cancellations, expirations, and billing, among others, are more or less part of any other AMS, Veruna does not just want its users only to manage policies; it wants to help them manage relationships, which are pivotal to insurance agencies because the success and failure of their work is based on trust and customer gratification,” explains Ms. Carroll.

That is also precisely the reason Veruna chose to build its platform on top of Salesforce. “Who else can bring more robust customer relationship management (CRM) capabilities than Salesforce? We leverage Salesforce’s CRM and other components like workf low management and process builder to help the insurance agents serve their customers better,” says Ms. Carroll. As Veruna leverages Salesforce, it can offer clients the required data privacy and security, while enabling them to configure individual environments for their unique needs rather than imposing the kind of rigid restrictions that are a legacy AMS staple.

Scripting Success for Diverse Needs

The company has been drawing the attention of numerous customers like aggregators, brokers, and others to help them with their insurance data management in a customized manner. In one instance, an insurance agency in the commercial trucking space started using Salesforce and Veruna to bring more efficiency to their workf lows. The company had to deal with constant requeststo addor remove drivers or vehicles on numerous commercial accounts. They configured Salesforce according to their needs and designed a consumer-facing portal through one of Veruna’smany third-party implementation partners. With this configuration, the system could easily address real-time change requests to policies and be a robust portal for agents to serve, interact with, and sell to customers. After implementing Veruna, the agency’s business grew by an astonishing 600 percent in just one year. At the same time, the quick processing time also resulted in happier customers, thereby increasing their client satisfaction and retention rates. “This is an outstanding case scenario for us, as the agency had very specific needs and aggressive goals, and no other agency management system could have helped them the way we did,” remarks Ms. Carroll In another scenario, an agencyhad one essential requirement: generating certificates based on customers filling out webforms on the company’s website. They started using Veruna, and whenever a certificate request popped up, an agent would review the documentation, prepare the certificate, and send it out.

“We immediately made the job of the agents so much simpler. It might not be a huge thing, and it doesn’t even have to be,” expresses Ms. Carroll. “The bigger deal is improving the customer relationship and enabling every interaction to contribute to long-term retention,” she adds.

In all its efforts, guiding Veruna in the right direction is its passionate and visionary CEO, who brings extensive experience advising technology startups through all life phases, from formation to venture financing to exits, including mergers and acquisitions. As a former attorney, Ms. Carroll understands the dynamics of a regulated, contract-based industry. Before being named CEO, Ms. Carroll helped the company raise more than $5 million in venture funding. With Ms. Carroll now at the helm, Veruna recently closed a $6 million dollar venture financing. Now, she is focused on optimizing operations for efficiency and scaling the company, supported by Veruna’s brilliant team of technologists, Salesforce experts, and insurance veterans. Together, the team and Ms. Carroll bring f lexibility to agency management, empowering agencies to customize and integrate tools that match their unique business focus and goals.

- Pamela Morgan
    June 01, 2021
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Top 10 Insurance Agency Management Solution Companies - 2021

Company
Veruna

Headquarters
Remote offices through the United States in over 21 states

Management
Jennifer Carroll, CEO

Description
Veruna enables independent agencies and brokers to KNOW their customers better in order to GROW their business rapidly, allowing users to customize and integrate tools to match their unique business focus and goals. By leveraging the #1 CRM – Salesforce.com – Veruna empowers agents and brokers to sell, serve, and retain like never before. Description: Veruna’s vision is to revolutionize the AMS space by bringing innovation and empowering insurance agents to stay to thrive in today’s fast-paced, customer-centric environment. Veruna helps insurance agents to sell more and better retain customers. Veruna AMS leverages Salesforce—with full access to business apps on the Salesforce AppExchange—to deliver detailed reporting and analytics, efficient agency management tools, and customizable back-end processes enabling agents to offer a best-of-breed experience to their customers. Simply stated, the platform enables agencies to better know their businesses, so they can grow the