In the fast-evolving world of insurance, efficiency, accuracy, and scalability are paramount. Platforms like Applied Epic, Guidewire, Duck Creek, and Zywave offer comprehensive solutions for managing policies, claims, and broker relationships. However, as your business grows, these off-the-shelf systems might begin to feel more like obstacles than solutions.
Let’s explore these popular platforms in detail, highlighting their strengths and limitations, and understand why investing in a custom-built software solution may be the key to future-proofing your insurance operations.
Applied Epic – Agency Management Platform
Applied Epic is a leading agency management platform used by insurance firms to streamline operations, manage client relationships, and maintain compliance. Key features include:
- Policy and client management
- Integration with carrier systems and accounting software
- Reporting and analytics for insights into business performance
- Document management and workflow automation
- Cloud-based access for mobile and remote teams
Applied Epic is well-suited for insurance agencies looking for an integrated, easy-to-use platform for managing customer data and internal workflows.
Limitations:
While Applied Epic provides a unified solution, its rigidity can make customising processes difficult. Some users find the system lacks flexibility in reporting, and its reliance on third-party integrations can lead to costly additional modules and maintenance.
Guidewire – Insurance Core Systems
Guidewire is an industry-leading suite of insurance core systems designed for larger insurance companies. Its modules cover:
- Policy administration
- Claims management
- Billing and payments
- Underwriting and pricing
- Reporting and analytics
Guidewire is designed to handle the complex needs of large insurance providers with sophisticated back-end systems.
Limitations:
While Guidewire offers deep functionality, it’s an expensive and resource-intensive solution, best suited for larger organisations. Smaller insurers may find it overly complex and costly to implement and maintain. Customisation can also be challenging, often requiring third-party developers for tailored solutions.
Duck Creek – Policy and Claims Software
Duck Creek is a cloud-based platform offering solutions for managing policies, claims, billing, and reinsurance. Key features include:
- Comprehensive policy lifecycle management
- Claims management with built-in fraud detection
- Cloud-native architecture for flexibility and scalability
- Integration with core systems and third-party applications
- Real-time data analytics for business intelligence
Duck Creek’s scalability makes it a solid choice for mid-to-large insurers looking to modernise their operations.
Limitations:
Duck Creek offers strong out-of-the-box functionality, but as with other large systems, it may require significant configuration and customisation to meet the specific needs of a business. The system’s complexity can also result in high implementation and training costs.
Zywave – Broker Management and Sales Automation
Zywave is a powerful platform for insurance brokers, providing tools for managing clients, sales, and compliance. Features include:
- CRM for managing client relationships
- Sales automation and tracking tools
- Compliance and regulatory support
- Document management and secure data sharing
- Integration with other software like Applied Epic and Duck Creek
Zywave is ideal for brokers and smaller agencies looking for a user-friendly interface to support client communication and sales growth.
Limitations:
Zywave excels at streamlining broker operations but is less suited for large-scale insurance providers with more complex policy and claims management needs. Its focus on brokerage rather than policy administration can lead to challenges for businesses looking for an all-in-one solution.
Why Custom Insurance Software Could Be the Answer
While these off-the-shelf insurance platforms provide valuable features, they often fail to address the unique requirements of many insurance providers. Here are some signs that your current solution might not be enough:
- Systems that don’t integrate seamlessly with each other
- Reporting tools that don’t meet your specific KPIs or metrics
- A lack of customisation in workflows, data collection, or policy management
- Scalability issues as your business grows or expands into new markets
- Expensive licensing fees, maintenance costs, or reliance on third-party consultants for customisations
If your software is holding your team back from its full potential, a custom-built insurance platform might be the right solution.
Shoothill: Tailored Insurance Software Built for Your Needs
At Shoothill, we specialise in developing custom software solutions for the insurance industry, designed to meet the exact needs of your business. Whether you’re managing claims, policies, underwriting, or broker relationships, we build solutions that are tailored to how you work.
With a bespoke solution from Shoothill, you can:
- Streamline complex insurance workflows, from policy issuance to claims resolution
- Create a fully integrated platform that connects claims, billing, and customer service
- Ensure compliance and automation with tailored reporting and audit trails
- Enhance customer satisfaction with custom portals for claims tracking and policy management
- Future-proof your business with scalable, flexible solutions built for your specific needs
Don’t Let Off-the-Shelf Software Limit Your Potential
Your business is unique, and so are your software needs. Off-the-shelf platforms are often designed to serve a wide range of businesses, but they can’t provide the precision and flexibility you need to stay competitive in today’s market.
Get in touch with Shoothill today and discover how a custom insurance software solution can optimise your operations, improve customer satisfaction, and drive business growth.
