Mentors Challenge.

“You won’t ever change it.”

In 2004, I was in the middle of a company-wide system implementation project for a regional mutual insurance company. It ended up being one of the most challenging and rewarding experiences of my career for many reasons, mostly because I was surrounded by some of the best leaders in the business who had a vision and knew how to assemble a team and culture to achieve it.

During that time, I had the opportunity to visit various independent insurance agencies in the distribution channel to understand better how they were using technology to grow and operate their agency. After every visit, I felt defeated and disappointed. It was clear that the distribution channel was being left behind in the adoption and utilization of technology. 

One morning, after returning from some agency visits, I expressed disappointment with our CIO about what I had witnessed. I was adamant that there had to be a better way and began ideating about value-added solutions we could offer independent agents. After much rambling, he said, “You won’t ever change it.”

Now, the CIO was a mentor to me, and he was always encouraging, especially when we were trying to solve for a better outcome that aligned with our mission, vision, and values. So I was more than surprised when I heard “You won’t ever…” come out of his mouth. To this day, I don’t know if he said those words to challenge and inspire me or if he was simply trying to keep my focus on implementing the full-suite policy administration system project on time and within budget. Probably both. The CIO was Todd Albert, and while he’s no longer with us, I know he would be smiling while reading this post. He taught me a great deal and believed in me like no other. 

Ironically, it’s 2025, and those “You won’t ever…” words still inspire me in a slightly different way. 

As we meet with agencies and brokers, we hear statements from like…

• “I just hope I can retire before implementing a new AMS.” 

• “I fear that my employee of 15 years will leave me if we change systems.”

• “We know we have to do something, but…”

The doubt and fears of adopting new technology are as strong as ever. But here is the good news…some agencies are doing what others say can’t be done, and it's working for them, and others are noticing. Our industry is evolving, and agencies are proving they can transform processes, people, and technology to serve clients better. They are raising the bar for others.

So, if you need inspiration to combat the “You won’t ever…” moments in your agency, just let me know. I’d love to introduce you to the agencies that now say, “Yes, you can.”

Regardless of what you do with technology, maybe the best takeaway is to mentor someone in our industry and challenge them to achieve what they think can’t be done.

Kevin Rall

Co-Founder, borrowedtyme

The Power of Alignment

www.borrowedtyme.com

In the book Leaders Eat Last, Simon Sinek explores why some teams pull together and some pull apart.  He reminded us that confronting the threats we face in the world is best done together, and he used a storytelling approach to explain the crucial role leadership plays in creating a culture of trust that results in more pull-together moments.

Over the past few years at borrowedtyme, we’ve had the opportunity to watch how technology is helping agency principals streamline operations, improve team collaborations, and align teams to achieve results. 

In this article, we seek to highlight some of the “pulling together” benefits that agency principals have realized by taking the leap in simplifying their technology stack and aligning their operations around a single platform.  The following outcomes not only bring agency teams together, but it allows agency principals to scale operations, drive efficiency, enhance teamwork, and increase revenue per employee.

1. Bringing Sales and Service Teams Together

The traditional silos between sales and service teams in insurance agencies can be a significant barrier to achieving optimal performance. Sales teams are focused on acquiring new business, while service teams are focused on managing existing client relationships. This division, although necessary at times, can lead to inefficiencies and missed opportunities for better customer experiences.

By consolidating both sales and service functions into a single platform, agencies can bridge this gap. When both teams have access to the same client data and tools in real time, they can collaborate more effectively. Sales leaders can quickly see client interactions, claims history, and policy changes that impact their ability to know their clients and increase trust. Similarly, service teams can view opportunities for upselling or cross-selling during customer service calls. This collaborative approach fosters a unified strategy, where everyone is working towards the same goals of enhancing the customer journey and driving growth.

2. Improved Data Integrity: The Benefits of Unified Financial Accounting

One of the most critical aspects of an insurance agency’s success is maintaining accurate and up-to-date financial data. However, when financial accounting systems are disconnected from client management or sales platforms, it can lead to discrepancies, inefficiencies, and costly errors. Whether it’s duplicate data entry, missed transactions, or mismatched invoices, managing your financials on a separate system creates room for costly mistakes.

Aligning your sales, service, and financial accounting functions within a single platform resolves these issues. With all teams working from the same source of truth, data integrity is dramatically improved. Payment processing, commissions, and policy renewals are accurately tracked and updated in real time. This ensures that financial reporting is accurate, transactions are seamless, and your team doesn’t waste time reconciling data across multiple systems. The end result is a smoother workflow, less risk for errors, and improved cash flow management.

3. Operational Efficiency: Say Goodbye to Data Merging

In the past, agencies had to rely on exporting, importing, and merging data from multiple platforms to get a full picture of their operations. This often meant navigating between a CRM, marketing systems, AMS software, financial accounting systems, and more. Not only was this time-consuming, but it also left ample room for data inconsistencies, delayed insights, and frustrated employees.

By operating all functions from a unified platform, you eliminate the need to merge data from disparate systems. The platform approach automatically integrates sales, service, accounting, and operational data, providing a single point of access for everyone in your agency. As a result, operational workflows become faster, insights are more readily available, and managers can make informed decisions without waiting for data from multiple sources. This boost in operational efficiency can be a differentiator and enable teams to think differently and focus on growth rather than administrative overhead.

4. Better Insights and Decision-Making

With all your agency’s data on a single platform, you gain a comprehensive view of key metrics—sales performance, customer service trends, financial health, and operational efficiency. This centralized approach to data allows you to spot trends, identify bottlenecks, and make more informed decisions across all levels of your agency. Whether you’re analyzing customer behavior, reviewing agent performance, or planning strategic growth initiatives, you’ll have accurate and up-to-date information at your fingertips.

Advanced reporting tools embedded in a unified platform can even automate the generation of custom reports, saving you valuable time. With data from all areas of your business combined in one place, you can identify opportunities for growth, assess risk, and make data-driven decisions that have a direct impact on your agency’s profitability and customer satisfaction.

5. Enhanced Client Experience

At the heart of every insurance agency is the client. By aligning your entire operation on a single platform, you not only improve internal processes but also elevate the customer experience. Sales and service teams will have a 360-degree view of client interactions, policies, and claims, enabling them to offer faster and more personalized service.

One “pulling together” moment for agencies that move to a single-platform architecture is when their P&C and Employee Benefit divisions have a view into a common customer.  Far too often, these divisions operated separately, and clients were left feeling like they were working with two different organizations.  Not exactly the target experiences the agency was seeking to deliver to their clients.

When your teams have the tools they need to provide timely responses and proactive service, your clients will feel valued and supported. A seamless, connected experience can be a key differentiator for your agency in a crowded market, helping you build stronger relationships and increase client retention.

6. Preparing Your Agency for the Future of AI

As artificial intelligence (AI) continues to gain traction in the insurance industry, agencies that align on a single platform are better positioned to harness the full potential of this transformative technology. AI thrives on data, and having your agency’s operations consolidated on one platform ensures that the data AI needs is clean, accurate, and readily available.

For example, AI-powered tools can analyze client data to predict their future needs, helping agents to cross-sell or up-sell products with precision. Additionally, AI can be used to automate routine tasks like claims processing, policy renewals, and customer queries—freeing up your team to focus on more complex, strategic efforts.

When your data is already integrated and aligned, it’s much easier to implement AI solutions that work seamlessly within your agency’s workflow. AI can identify inefficiencies, optimize workflows, and provide actionable insights in real time. As a result, agencies can not only improve operational efficiency but also deliver more personalized and responsive customer service.

In short, aligning your agency on a single platform doesn’t just streamline your operations today—it builds the foundation for a future where AI and automation play a key role in driving growth, innovation, and client satisfaction.

Conclusion: Unlocking the Future of Your Insurance Agency

Aligning your insurance agency on a single platform isn’t just about technology; it’s about transforming the way your team collaborates, operates, and delivers value to clients. By bringing sales, service, and financial accounting together, you create a more efficient, accurate, and cohesive business that’s poised to thrive in a rapidly changing industry.

In today’s competitive environment, the agencies that succeed will be the ones who leverage integrated platforms to streamline operations, improve data integrity, and deliver superior service. As the industry continues to evolve, agencies that embrace digital transformation and pull their teams together will have a distinct advantage in creating a more agile, efficient, and client-centric business model.

Simon Sinek’s advice is more relevant than ever.  Leaders that find ways to bring their teams together will excel and the benefits of pulling together with technology are clear: streamlined processes, better collaboration, fewer errors, and ultimately, more satisfied clients. If you are struggling to pull your teams together, consider starting by simplifying your technology stack.  There is much to gain.

borrowedtyme delivers AI prompt experience for insurance eDocs, powered by Centro

10/22/2024, Columbus, OH — borrowedtyme, a consortium of independent agents and brokers focused on validating innovative solutions for the insurance industry, is excited to announce its progress with Centro to deliver AI-enabled chat with insurance policy documents, such as carrier eDocs. This collaboration aims to transform how insurance agents and brokers access and interpret insurance policies by offering a seamless, AI-powered experience.

Through this partnership, borrowedtyme and Centro deliver an AI prompt experience within Salesforce Financial Services Cloud for insurance professionals to ask policy and coverage questions and quickly receive AI-enabled responses. Powered by Centro’s advanced AI capabilities, the new service will help brokers and agents save time, reduce manual efforts, and scale their operations by utilizing AI to support day-to-day service activities.

“We are thrilled with the work being done with Centro to help agency leaders prove the use of AI and strengthen the independent agent and broker distribution channel,” said Kevin Rall, Co-Founder at borrowedtyme. “The agencies leading this charge are demonstrating to their peers and insurance carrier partners how to utilize AI to enhance client experiences and build trust. Centro’s team has delivered similar capabilities in industries outside of insurance, and it’s exciting to watch how those learnings can be applied to insurance. It’s also a lot of fun!”

Centro’s AI solution, combined with borrowedtyme’s AMS capabilities, provides an intuitive interface where users can ask questions about policy documents in real-time and receive clear, concise answers. Whether clarifying policy terms, understanding coverage specifics, or resolving any ambiguities, this service is designed to enhance productivity and decision-making across the insurance landscape.  

“Centro is known for creating clean and intuitive experiences that delight customers, and the AI work we are doing with borrowedtyme for insurance perfectly aligns with our vision to create magical innovations in every industry,” said Ryan Hitchler, CEO & Co-Founder at Centro. “By leveraging AI, we’re empowering insurance professionals with the tools they need to navigate complex policies effortlessly, ensuring better service for their clients and improved outcomes for their businesses.”

The Centro AI service is available now to all users of borrowedtyme’s transformational agency management system, known as btcore, with more enhancements planned for the future as both companies continue to evolve their AI offerings running on Salesforce Financial Services Cloud.

About borrowedtyme

borrowedtyme exists to harness the innovative ideas of independent insurance agents and brokerages, and deliver core operational capabilities on world-class platforms like Salesforce.

In 2023, borrowedtyme introduced btcore, a full-suite agency management solution for P&C and employee benefit capabilities running on Salesforce Financial Services Cloud.  With btcore, agencies and brokers can run their entire operations - sales, service, and financial accounting - on a single platform. To learn more about btcore capabilities, visit btcorecloud.com.

About Centro

Centro is the world leading Slack and Salesforce integration for customized solutions to meet complex and unique business needs. Founded in 2020, Centro’s customers create bespoke solutions in Slack and Salesforce.

In 2021, Centro began adopting generative AI solutions into their product lines, including case deflection, channel and record summaries, and bespoke AI solutions with the launch of Centro AI in 2024. To learn more about, visit http://www.centro.rocks/ - btpr