BindHQ vs. Vertafore ReferenceConnect

This is a tough question as there have been zero scenarios in my work day/experience where I would say it was not suited for the situation.

Vertafore ReferenceConnect is well suited within an organization with many users, who are trying to turn out policy submissions and gain information quickly. It is also well suited for individuals who are trying to learn more specifically about classes of business, what types of insurance coverage is recommended, and what the policies are based on. It opened my eyes to a lot of exposures for class codes that I was not particularly aware of, due to the fact that I am a new agent, and I would recommend this be used for agents who have less than 5 years experience.

Incentivized

• UX - User friendly layout in particular the search feature – BHQ offers a modern 21st century take on an insurance system with users quickly and intuitively picking up the key functions of BHQ. I particularly love the robust search function. I use it daily to track down accounting information such as check #’s, vendors, & memos.
• Bank Reconciliation – The bank reconciliation module has saved me tremendous time (no excel recs!), plus it is super simple. Just select the bank account, the date, and final balance then it is point & click for the reconciled items. I particularly appreciate pulling a .csv file to review those large cumbersome deposits that have over 100+ entries to them.
• Bill Payment – It is quick and easy to handle bill payments to vendors from selecting the vendor to choosing your expense GL and finally payment options. It is simple & clean.

• It provides a variety of descriptions that allows for correct selection.
• It provides information not readily available like what a rate is based on.
• Gives market appetites with some carriers.

Incentivized

• The system is relatively young and accommodates basic reporting features at the moment. For example, currently, I'm not able to produce agency-level and account level data using reporting tool, which makes reviewing an individual agency partners performance a little more challenging. However, the support desk willl send me custom reports if I communicate what I need.
• In the past, the support team has been less than responsive but they have improved over the last 6 months.

• Sometimes the site navigation is not the most fluid.
• Sometimes I get logged into a particular carrier's section and have to log out and log back in - not sure the reasoning.
• It does not always recognize my description so finding the class code is sometimes harder than expected.

Incentivized

BHQ is a user friendly, lightweight program that runs anywhere you have internet access! I use it at home, the office, or even at a nearby coffeeshop. It's hard to beat that kind of mobile work lifestyle particularly in the current world climate

It was hit-or-miss in the past but they seem to have taken steps to improve this. As of the past 6 months, they've been pretty quick to patch bugs and fix issues when we report them

I have not had to use the support for Vertafore ReferenceConnect.

Incentivized

When comparing these to BindHQ, without a doubt, it is MUCH easier to navigate through AR and AP modules, applying cash, issuing checks, viewing policies, working remotely (no remote desktop), Gmail features with attaching emails to policies. But the main takeaway with what outshines than any other agency management system out there is the smooth transition from moving from AR to AP modules. You just can’t find that anywhere.

Unfortunately, I have not used any additional software programs like Vertafore ReferenceConnect so I am unable to compare them. I do know that my insurance agency likes the capabilities that it has and is not looking for alternatives at this point - this can only speak to the benefit to the organization.

Incentivized

• Positive - By streamlining our workflow processes it has allowed our production teams to focus more on production and generating more business and not on backend data entry and time wasting functions that we had with previous systems.
• Positive - Production teams are now able to work together seamlessly on a single account regardless of employee location allowing for remote working to function without any time restraints

• Positive impact on rounding out accounts with additional lines of coverage.
• Positive impact on correctly classifying an account.
• Positive impact on learning as a new agent.

Incentivized