INSURICA Taps AgencyKPI To Gain Deeper Insights Into Data
AgencyKPI (www.agencykpi.com), developer of the first integrated business intelligence system designed to address and manage the overabundance of data produced across the insurance industry, today announced a partnership with INSURICA.
As one of the top 40 insurance brokers in the country and the 24th largest privately-held independent agency in the United States, INSURICA contends with an enormous amount of data. For years, this mountain of data has grown in tandem with the company's expansion.
Working closely with AgencyKPI's data science team, INSURICA will implement new data standards to compile all the data produced by disparate systems and organize it into insightful and useful reports. As a result, INSURICA will not only better manage its data, but also unlock the knowledge within it to improve business planning and track performance in each of its state offices and at the corporate level.
"We're excited about our new partnership with AgencyKPI and the opportunity it will bring us to dig even deeper into our data to fortify our ability to set and achieve our goals. Until now, the idea of being able to gather actual production information for all of our offices seemed a daunting task. Through AgencyKPI, we're looking forward to no longer manually downloading reports and then trying to assemble that information into something useful. In the days ahead, we'll actually be in the business of managing information instead of just collecting it," said Kevin Wellfare, INSURICA's Vice President, Agency and Brand Development.
"This is our first relationship with an insurance broker and we could not be happier about it. While our traditional clients have been insurance networks, we're thrilled to be working with one of the largest insurance brokers in the country. This new partnership is a byproduct of the carrier producion data currently on our Harmony platform from nearly 80 carriers, and that number is set to grow as INSURICA has many relationships with carriers that will benefit from being on our Harmony platform as well," said Trent Richmond, Co-Founder of AgencyKPI.
AgencyKPI Leaps Out of the Gate in First Quarter of 2022
In just the first quarter of 2022, AgencyKPI has grown 30% due to increases in its network and broker client base. Recently, AgencyKPI updated the tote board on its website to read: "Today, our Network and Broker clients have $29.5 billion in written premium from over 11,704 affiliated agencies on our Harmony platform." The new numbers are an increase from $25.4 billion in written premium from over 9,266 affiliated agencies.
"The addition of INSURICA to our family of partners is further confirmation that the insurance industry wants to enable better collaboration through a deeper understanding of their data. In the next weeks, we aim to announce our Series B round of funding and continue to bring our vision to fruition," said Bobby Billman, Co-Founder of AgencyKPI.
Placing over $1 billion in annual premiums for our clients, INSURICA is among the 40 largest insurance brokers in the United States and is currently the 24th largest privately held independent agency in the country.
INSURICA employs more than 600 colleagues in 33 offices located throughout Oklahoma, Texas, Arkansas, Kansas, Colorado, Arizona, California, Mississippi, Alabama, and Florida. We are constantly looking to expand our network with partners who bring additional value and expertise to the enterprise and our clients. Our focus on finding quality and experienced partners, coupled with the resources of Assurex Global positions INSURICA as one of the preeminent insurance brokerages in the country and further emphasizes our customer pledge that we "Specialize in You."
For more information, visit www.insurica.com.
AgencyKPI is developing the first integrated business intelligence platform designed to address and manage the overabundance of data produced across the insurance industry. AgencyKPI holds a fundamental belief that insurance agencies, networks, carriers, brokers, and wholesalers desire to deepen their relationships through mutual understanding, and the harmonizing and balancing of their collective efforts. During a time when most Insurtech companies claim that disruption is the path to the future, AgencyKPI is developing software platforms that support Harmony, Understanding and Balance between all partners and vendors in the insurance industry.
AgencyKPI is founded by Trent Richmond and Bobby Billman. Richmond is a veteran of the insurance industry and is the former CEO of Combined Agents of America, and also the former president and chairman of the board of Bridges Group Insurance. Billman is a former vice president at Motorola Mobility, a Google company, where he was responsible for global products and go-to-market strategies. Over his career, Billman has held executive leadership positions at Samsung Mobile, Dell, Dish Network and Nokia Mobile.
For more about AgencyKPI, Inc. go to www.agencykpi.com.