The life of an independent insurance agent can be a hectic and complicated one.
Benefits that set agents apart from those working for big-name corporate brands can also be limitations, as managing accounts and adding a personal touch invariably means more paperwork to deal with and more details to be tracked in a complex industry.
“It’s the only internal platform that helps independent agents save time and increase revenue by providing a workflow centralization system,” Yang says.
As a web-based software, Agent Ave serves as a digital tool for managing underwriting guidelines, storing and accessing contact information, tracking IDs and passwords, cataloguing reports, and more. It’s handy for the individual agent but its power is really unlocked when being utilized amongst a collective, where disparate team members can easily communicate and share data through the platform’s secure and private cloud.
“All the day-to-day things are wrapped up in one place, so you can just grab the data and go,” Tou explains. “We’re simplifying a lot of tedious daily activities.”
The Agent Ave operation is fairly small at this point, with Yang running the show along with a technical cofounder and a few part-time developers, advisers and writers. That company has bootstrapped for funds up to this point and launched the paid version of its product about three months ago. Subscriptions to the service cost $12.99 per month for each agent using it, so there are substantial revenue opportunities if Agent Ave is adopted by an entire company, with those recurring fees being multiplied several times over.
Yang says that currently Agent Ave’s user total is in the hundreds, and as the company gains momentum he’s confident that the solution will be embraced as agents begin to see how much time (and money) they can save.
“A lot of independent agents are in the dinosaur age when it comes to using technology for their day-to-day workflow.”
If true, that should make the convenience and efficiency of Agent Ave an easy sell.