Founded in 1955, Texas-based independent insurance broker Roach, Howard, Smith and Barton is a leading provider of insurance products to commercial clients in the technology, manufacturing, real estate and healthcare industries. In addition to this, the Assurex Global Partner and Tech Assure Partner provide specialty divisions for high net-worth personal lines clients and employee benefits.
In 2005, the agency chose the Nexsure Agency Management System to replace their aging legacy management system. Like many progressive agencies, Roach, Howard, Smith and Barton saw benefits in the 100% cloud-based system, offering CRM, Policy Servicing, Accounting and Reporting capabilities. Additionally the agency reduced infrastructure costs by leveraging the economies of scale found in pure cloud-based offerings.
One of their critical processing components in the policy life cycle revolves around the processing of carrier Direct Bill commission statements. The Nexsure Agency Management System offers licensed users with the ability to process Direct Bill commissions via invoice creation from the carrier statement - a process called Statement Entry - as well as the ability to download commission statements from carriers that support the process. Layering onto these features, Nexsure also allows agencies the ability to import a Microsoft Excel spreadsheet of commission data which in turn acts like a commission download.
As part of the completed solution, Roach, Howard, Smith and Barton uses a combination of these methods, depending on the size and complexity of the commission statement to process. Today the company has realized a significant return on investment (ROI) in this single area of Nexsure. Chief Information Officer Karen Bitzer states, “prior to selecting Nexsure, two employees would spend approximately 40 hours per month processing 3,000-3,200 individual invoices. We now see the same number of invoices completed by one employee in 12 hours. This is a significant reduction in cost-to-process and our invoicing errors are almost non-existent.”
XDimensional Technologies' Chief Operating Officer Patrick Espeland adds, “we continue to collaborate with agency partners to understand the specific challenges they face. Direct Bill processing is one of these areas where we worked with our agency partners to program features to assist them in processing their Direct Bill commission statements more efficiently. The end result, as seen at Roach, Howard, Smith and Barton is a considerable ROI for the agency.”
The Direct Bill processing features outlined in this case study are a significant part of the accounting functionality found in the Nexsure Agency Management System. For more information on this feature or any feature within Nexsure, please contact Nexsure Sales at email@example.com or by phone at (800)789-2567.
Founded in 1955, Roach, Howard, Smith and Barton (www.rhsb.com) is a leading provider of insurance solutions to clients in the Texas area. Their specialties include technology, manufacturing, real estate and healthcare. The agency is fiercely committed to leveraging insurance technology and was awarded the 2013 Power Broker – Technology – Risk & Insurance Management award.
XDimensional Technologies®, Inc. (www.xdimensional.com) based in Brea, CA, develops and markets Nexsure®, the Internet insurance agency and brokerage management system, that connects agents, carriers, brokers, wholesalers and policyholders, driving efficient business production, superior customer service, and insightful business management. Nexsure is a comprehensive, scalable, Cloud-based (SaaS) solution engineered for the Web.