Saving time and the cost of labor are two key benefits of using 1Quote, but we wanted to know what this actually looks like inside the day-to-day operations for our clients. We recently sat down for a question and answer session to find out how using the 1Quote system has impacted one client’s agency.
What were some of your challenges before using 1Quote?
The small group quoting process was so time-consuming! Not every carrier offers an online portal for self-service for quoting, so we would have to submit the quote requests to the carrier, and sometimes it would take them days to get back to us. It just depended on their workload and how quickly they could turn around that quote request.
One of the other things that I found really time-consuming before 1Quote was the fact that even though I may have access to an online portal with the carrier, each carrier has its own specific census template that you have to use to upload into their system. So, I was copying and pasting into multiple versions of a census template with the same exact information. It was a lot of doing the same thing over and over again, just to be able to get a small group quote. And, it could be a group with only two people or up to 50, which means more copying and pasting depending on the size of the group.
The third biggest time consumer before 1Quote was creating that side-by-side benefit comparison. I would have to pull information from the carrier, the benefit summaries, then populate that information into an Excel document to show how each benefit compared across the board with different carriers — it could literally take days to create just one side-by-side comparison for a small group in Michigan.
You never want to make a client wait that long because your competitor may come in and be able to produce something rather quickly. Speed is definitely a necessity.
How has the move to 1Quote impacted your business?
The time savings has been huge! Previously it could sometimes take about 4.5 hours to quote just one group. Even longer if I have to quote a carrier that doesn’t offer an online portal. By using 1Quote, it now only takes maybe 10 minutes to generate a side-by-side comparison, and it even includes a census, age rate tables, and shows a percentage of difference between the plans.
The time savings has definitely helped us reduce our labor costs. Last year we were able to save roughly $22,966.67 in labor costs by streamlining our small group quoting process with the move to 1Quote. It also allowed us to focus on other areas of our business to increase revenue. We’re always looking for ways to be more efficient without sacrificing quality or service, and this system helps us achieve that goal.
The amount of money that we pay is minimal for access to the system, compared to how much labor time we have saved just by using it. Plus, the exported comparison is easy for our clients to read; which helps them make a decision quicker. Another time-saver!
Download our free worksheet to calculate your potential cost savings with 1Quote!
What are the aspects of 1Quote that help you the most?
Besides saving me time and being easy to use, I would say the reliability of the system. I’m able to trust that the system is accurate, that GRA really pays close attention to quarterly submissions to make sure that the rate that I’m going in and pulling from the 1Quote system is accurate and up-to-date, that the benefit information is accurate and up-to-date; I know I can trust that.
There have been instances where a renewal sent from a carrier to a group was actually incorrect — and we were able to catch that with 1Quote. It turns out, the carriers had inadvertently provided a renewal rate that was significantly higher than what it should have been because they used the wrong rating area when they created the renewal. If I wouldn’t have had the 1Quote system to compare my renewal, it would never have been brought to my attention, and the group either could have left the carrier or gone to a different agent with less expensive options. But I was able to contact the carrier, provide the information to show them the error and they regenerated the renewal with the correct renewal rates, which were significantly less. The group was really happy that we were able to catch that for them. So reliability and trusting the system are key.
How has using 1Quote changed your renewal process?
Saving time allows us to be able to focus on some of the other things that we need to do to be more proactive. We are able to prepare and plan ahead, especially before fourth quarter. We know which groups we’re going to be renewing for January, and so we’re able to get the census prepared and ready. We can upload the census into 1Quote and have that ready to go. Once the January 2022 rates are active and available, all I need to do is just go into the comparison, select the plans and then export it. So this gives me more time to be able to plan, to focus on sales, retention, and service.
Especially since I don’t have to create multiple censuses, now I don’t have to go to multiple locations just to pull the information; it’s a one-stop-shop. Having that ability takes some of the stress off of the fourth-quarter process — it’s been a lifesaver!
What is your favorite feature of the 1Quote system?
Being able to make changes quickly and easily! Let’s say we’ve just presented a comparison to a group and then they come back and say, ‘Hey, Bob left. We would really like to have you redo the comparison so that we can see a true total without his premium.’ Or, let’s say they want to add a person and they want us to regenerate the numbers. With 1Quote, instead of having to go in and redo the entire process — uploading a new census, recreate all of the comparisons that I just already completed — all I have to do is open up the census that we originally uploaded, make the change to the census, and that automatically updates any comparison that I’ve created that’s linked to the census. After updating the census, all I need to do is go in and re-export the comparison and send that over to the group. It’s super quick and easy!
How does 1Quote compare to other options?
We have looked at other options in the past and cost was a huge factor. Plus, some companies charge thousands of dollars and lock you into a contract before knowing if the system will be easy to use or fit our specific needs. 1Quote was relatively inexpensive and we didn’t have to commit to an annual contract. It’s only $99 a month. So, it’s cost-effective, in addition to being the most user-friendly system that we have tried.
Another important difference is that some of those other systems we looked at didn’t include all of the carriers that are available in Michigan. We only quote Michigan businesses, so it is really important that we have access to all of the carriers that are available for our clients. We don’t want to be limited.
Would you recommend 1Quote?
Definitely! If you want to save time and get through the fourth quarter with less stress, then you definitely want to take a look at 1Quote.