Insurance Agencies Look for Easy Solution to Technological Challenges

Technological challenges faced by insurance agencies are creating opportunities for new companies in the industry.

According to Future One and the Independent Insurance Agents & Brokers of America’s biennial Agency Universe Study, technology poses one of the top challenges for insurance agencies; 21 percent of survey respondents ranked it as their biggest challenge, and 46 percent placed it among their main three challenges.

These challenges have created opportunities for growth among companies that help agencies use technology effectively. EZLynx is one such company. Founded in 2003, EZLynx ranked among the top comparative raters and agency management systems in the study — little more than 10 years after the company was started. According to the study, more than one-third of agencies that use a comparative rater rely on EZLynx, and the company ranks among the four most popular management systems.

When asked about the specific types of technological challenges they face, agencies repeatedly mentioned two: dealing with multiple carrier interfaces and effectively marketing on the Internet. Providing real-time quotes for auto and homeowners insurance was also mentioned by 12 percent of respondents. Although a minority of agents cited providing real-time quotes as a significant technological challenge, this marked the first time real-time quotes registered above 10 percent in the study.

These findings help explain the rapid growth of EZLynx. As a comparative rater, EZLynx helps agencies market themselves online using real-time quotes. The study found that 52 percent of agencies use comparative raters for just this reason, but this is not all that EZLynx does. The comparative raters that are able to add additional value through other online marketing efforts are the ones that have grown to the top in recent years. By complementing its real-time quotes with other services, EZLynx has established itself as the most prominent comparative rater. Of the agencies that use a comparative rater, 36.5 percent work with EZLynx.

Brady Polansky of EZLynx reflected on the study’s findings: “We’re proud that two-thirds [67 percent] of the study’s respondents rated EZLynx as either ‘very valuable’ or ‘extremely valuable.’ That shows that we are truly helping agencies through our comprehensive, web-based solution.”

EZLynx also holds a commanding position among insurance agency management systems, ranking among the top four in market share as the fastest growing management system of 2014. Polansky explains why adding a management system to EZLynx was a natural step: “We’re a technology company that works with insurance agencies. Agencies said they were struggling with the lack of innovation and bloated cost of their existing management systems, and we thought we could develop a solution that was far superior. We already had a relationship with these agencies through our hard earned success with comparative rating, and we had the expertise to solve the problem, too.”

The study found that growth among insurance agencies from 2012 to 2014 was stagnant, but technological advancements created opportunities for other companies in the insurance industry. No company has met agencies’ changing technological needs as well as EZLynx, which is why it has achieved unparalleled growth among comparative raters and agency management system providers.

To learn more about the solutions EZLynx offers, contact EZLynx at 877-932-2382 or email [email protected].

If you’d like to learn more about the study, please email Brady Polansky at [email protected].

You can also leave a comment below and someone will respond as quickly as possible.

About EZLynx

EZLynx® develops industry-leading cloud-based software for the insurance industry. Our software has helped independent agents operate their businesses more effectively for over ten years.

EZLynx is proud to be the innovator of several products that previously the insurance industry had never seen, including: Real-time rating, Agency Pulse™, Policy Sync, eSignature integration, and a unified rating and management system.


Survey Says: EZLynx Most Popular Rating Engine and Fastest Growing Management System

Survey SaysThe results of the biennial Future One and Independent Insurance Agents & Brokers of America’s Agency Universe Study are in, and EZLynx is the most popular Comparative Rater.

However rating penetration is only half the story. We are now the fastest growing Agency Management System. As a premier technology vendor who pioneered real time rating, we are extremely gratified to see our name now in the top ranks for agency management systems.

Having only begun selling EZLynx Management System in 2012, to reach this position so quickly speaks to the trust that our customers place in us. A huge thanks to all those who have made this decision and the many agents across the country who have actively collaborated with us in providing valuable insights to our development team.

These are agents who not only help better an important product for the industry, but also share a common philosophy with us of empowering agents with powerful, innovative tools that help improve both their bottom-line and top-line.

Single PlatformEZLynx Management System is built on top of EZLynx Rating Engine, combining perfectly to create a seamless integration of features, rather than separate products that merely “integrate”.

Integration is an afterthought, single platform is innovation

Those agents who use our management system will continue to be amazed at our product offerings in 2015. We have some exciting new features under wraps that will be released for general availability in early 2015 which will dramatically change the way you run your agency!

The assurance we have in increasing our penetration comes from the confidence in our team’s ability to listen to our customers and find solutions that are practical, cost effective, and efficient.

A simple example would be our Agency Pulse report that we send free of charge to every agency principal who has enabled our management system. It is truly a report that no savvy business owner should be deprived of.

Notwithstanding the facts that EZLynx is the fastest growing management system and more agents rely on EZLynx for comparative rating, there is a lot of other exciting news for agents in the report findings.

Seventy percent of the agencies experienced revenue growth of 19% over the past 2 years.  This is up 17% from the sixty percent number in the prior survey.  The trend of growth is continuing since the economic downturn in 2008-10.  Both commercial lines and personal lines agencies experienced growth with only 15% reporting decreases in revenue. In other areas of growth, EZLynx Management System is recognized as the fastest growing management system in the industry.

EZLynx Most Popular RaterOnce again, dealing with multiple carrier interfaces (re-keying data) is the biggest technological challenge for agents.  With respects to using comparative rates in personal lines, more agents use EZLynx than any other rating system.  EZLynx is in 58.3% more agencies than the closest competitor.

We have built our management system into our comparative rater as a single product. There is a reason why EZLynx Rating Engine remains the most popular comparative rater, and EZLynx Management System is the fastest growing management system of the year – it’s because they are one and the same. A single product, a single system to learn, and a single platform that can help your agency manage the complete lifecycle of your customers.

Learn More


To order a full copy of the report, please visit
http://www.independentagent.com/Resources/Research/AgencyUniverseStudy/agency-universe.aspx



Insurance Industry Veteran Brady Polansky joins the EZLynx Family

EZLynx, the leading provider of insurance industry workflow solutions, is excited to announce that Brady Polansky, CPCU, has joined the EZLynx family as VP, Agency Solutions. Polansky’s resume boasts an impressive career spanning over 23 years of service in the insurance industry.

Previously, Polansky was president and chief executive officer of NetVU, the largest technology trade association for the insurance industry, representing more than 150,000 independent agency owners and professionals who produced over $115 billion in annual premiums.

With more than 23 years in the business—including 15 successful years as an independent agent—Polansky is recognized as an expert in the independent agency distribution industry. He is an active speaker and panelist for national insurance forums, including IIABA, ACORD, and IVANS.

“Brady will be a tremendous asset to our organization,” said Nag Rao, President of EZLynx. “We are excited to have him work with us to increase the value of our agency solutions and help push the independent insurance industry forward. His unique perspective, experience, and integrity will be incredible assets to us and, more importantly, our customers.”

Polansky lives in Southlake, Texas, with his wife and their children. In his spare time, he works as an audio engineer for the major professional sports leagues. Sports fans who have watched a broadcast of the Super Bowl, Stanley Cup Finals, World Series, or NBA Finals in the last several years have likely seen him near the bench and heard his work over the television.

About WEBCETERA

WEBCETERA, creator of EZLynx and AgentInsure, is a leading technology vendor in the insurance industry. Founded in Texas in 2003, WEBCETERA specializes in real-time software solutions for the insurance industry and insurance consumers. The company’s technology is used by leading insurance carriers, financial institutions, and thousands of independent agencies across the country.